Bernard Arnault hopes for luxury turnaround
Bernard Arnault is hoping for a turnaround when his luxury empire updates investors.
The wealth of the Frenchman (pictured with Ivanka Trump), whose empire includes Louis Vuitton and Dior, has fallen by more than £15billion this year. But he is still one of the world’s richest men – worth £116billion despite a 26 per cent slide in LVMH shares.
On Thursday LVMH, whose sales fell earlier this year, announces its second-quarter figures.
Putting on a brave face: The wealth of Bernard Arnault, pictured with Ivanka Trump, has fallen by more than £15billion this year
Arnault, who attended Donald Trump’s inauguration, hoped rich Americans splashing out would offset a slowdown in China. But demand has been hit by trade war tension between the US and China.
Its alcohol brands, such as Moet champagne, have also been hit hard by tariffs and waning demand.
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