French luxury conglomerate LVMH saw its stock slide by more than 6% following the Tuesday evening reveal of its 2024 annual results.
"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.
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.
PARIS (Reuters) - 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.
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Bernard Arnault lost a spot in the billionaire rankings after LVMH Moet Hennessy posted results that weren’t as strong as some luxury-goods rivals.
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