"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.

The business world has a history of coming up with polite terms to couch unpleasantness. In the past, when it comes to job cuts, CEOs have “let go,” “made redundant,” and “rightsized” staff, among other attempts to avoid saying “laid off” or “fired.

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He’s someone Trump really looks up to and wants to make happy,” a source said of LVMH CEO Bernard Arnault, the wealthiest man in France.

With the economic outlook in France looking grim, Arnault said LVMH, which owns Louis Vuitton, Dior, Fendi and Moët & Chandon, is "seriously" considering opening more factories in the United States. Such a move would help the company to avoid the tariffs Trump has promised to enact on foreign goods sold in the United States.

There’s a different mood” between the two countries, said the French billionaire. Read more at straitstimes.com.

The luxury goods group headed by Bernard Arnault ends its 2024 financial year with sales of €84.7 billion, down 2% on 2023.

Bernard Arnault is outpacing Elon Musk and Mark Zuckerberg in wealth gain this year after signs of a rebound in luxury demand boosted LVMH stock.

Luxury giant LVMH is "seriously considering" bulking up its production capacities in the United States, CEO Bernard Arnault said on Tuesday, praising a "wind of optimism" in the country that contrasted with the "cold shower" of potentially higher corporate taxes in France.

The LVMH Moët Hennessy Louis Vuitton titan had prime seating near former Presidents Bill Clinton, George Bush and Barack Obama.

Luxury goods giant LVMH is the pride of France, but the government nevertheless understands the anger expressed by LVMH boss Bernard Arnault regarding French taxes, said a government spokeswoman on Wednesday.