Category Archives: Bernard Arnault

Wealth tax would be deadly for French economy, says Europe’s richest man

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LVMH owner Bernard Arnault, who could take €1bn hit, says proposed 2% levy ‘aims to destroy liberal economy’

Europe’s richest man, the luxury goods magnate Bernard Arnault, has said that a wealth tax that could cost him more than €1bn (£817m) would be deadly for France’s economy.

The French founder of LVMH Moët Hennessy Louis Vuitton said in a statement to the Sunday Times that calls for a 2% wealth tax on all assets “aims to destroy the liberal economy, the only one that works for the good of all”.

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Michael Rider evolves a winning formula in debut for Celine in Paris

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The American designer balances a homage to the past with a nod to his own fashion story

After a year of musical chairs in fashion, September is gearing up to be one of its biggest show months ever: with debut collections slated from new creative directors at brands including Matthieu Blazy at Chanel and ex-Balenciaga designer Demna at Gucci.

On Sunday in Paris, Michael Rider, who recently succeeded Hedi Slimane at Celine, decided to get a head start.

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Louis Vuitton owner LVMH reports surprise sales drop amid China slowdown

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Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7%, briefly hitting two-year low

Shares in luxury goods brands slumped after Louis Vuitton’s LVMH reported an unexpected fall in third-quarter sales amid China’s economic slowdown.

Shares in LVMH, which also owns Dior, Tiffany and Moët & Chandon, fell by as much as 7% in early trading, briefly hitting a two-year low, before regaining slightly, after it warned of an “uncertain economic and geopolitical environment”,with falling sales in Asia.

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Lotus produces record 2,200 sports cars in first half of 2023

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British carmaker also gearing up for sales of new Eletre electric SUV under Chinese owner Geely’s expansion plans

The British carmaker Lotus produced a record number of sports cars in the first half of 2023, as it gears up for a huge push behind sales of a new electric SUV under its Chinese owners’ expansion plans.

Lotus, which marked its 75th anniversary this year, produced 2,200 vehicles in the first six months of the year at its factory in a former second world war bomber factory at Hethel in Norfolk.

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Elon Musk loses title of world’s richest person to Bernard Arnault

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Loss of top spot to LVMH chief executive comes after Tesla shares more than halve in value

Elon Musk has lost his crown as the world’s richest person, after further falls in the value of shares in his electric car company Tesla.

Forbes and Bloomberg, which track the wealth of billionaires, reported that Musk had lost the top spot to France’s Bernard Arnault, the chief executive of the luxury group LVMH.

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