Headlines
French government: LVMH is pride of country but we understand Arnault's anger
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
LVMH's Bernard Arnault criticizes French taxes, considering US expansion. The French government acknowledges his concerns, stating tax rises are temporary.
PARIS (Reuters) - Luxury goods giant LVMH is the price of France, but the government nevertheless understands the anger expressed by LVMH boss Bernard Arnault regarding French taxes, said a government spokeswoman on Wednesday.
Arnault said on Tuesday that the group was considering bulking production capacities in the United States, contrasting what he perceived as a "wind of optimism" in the United States with the "cold shower" of France.
She added that tax rises were temporary and that the government remained pro-business.
(Reporting by Michel Rose and Makini Brice; Editing by Sudip Kar-Gupta)
Arnault expressed anger regarding French taxes and mentioned that LVMH is considering increasing production capacities in the United States.
The French government acknowledged Arnault's anger but emphasized that tax rises were temporary and reaffirmed its pro-business stance.
The government described LVMH as the pride of France, highlighting its importance to the country's economy and luxury sector.
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