Arnault was an openly fan of Trump plans to waken the manufacturers and criticized the French government and the European Union to increase taxes respectively and promulgate regulations which, in its words, “penalize our economic sectors”.
French President Emmanuel Macron had urged European companies to freeze investments in the United States in response to Trump prices.
The French luxury sector is particularly exposed to the current trade war because it depends strongly on exports. But while LVMH recorded a drop in sales in the first quarter of 2025, Hermès sales increased during the same period, according to profits published last week.
In the midst of investors’ concerns concerning the LVMH crisis, Hermès last week exceeded the conglomerate belonging to Arnault as the most precious luxury house in France and the largest company listed on the French CAC40. The two positions exchanged the following days.
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