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Billionaire LVMH Owner Arnault Impressed by US Optimism Under Trump
Posted
January 29, 2025
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2:18Now PlayingLVMH’s sales of fashion and leather goods declined in the fourth quarter, casting doubt on the prospects for a quick recovery in luxury demand. Sales at the key unit, which includes the Louis Vuitton and Christian Dior brands, slipped 1% on an organic basis as holiday shoppers remained cautious. Meanwhile, billionaire owner Bernard Arnault, speaking on the sidelines of LVMH’s annual results presentation in Paris, said a wind of optimism is blowing through the US after Donald Trump’s inauguration as president, in contrast to his native France, where the government is seeking to raise corporate taxes and unemployment is increasing. Bloomberg's Angelina Rascouet reports.
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