💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadUnlock them all

LVMH chief Bernard Arnault, daughter embark on China tour

Published 06/27/2023, 12:16 PM
Updated 06/27/2023, 12:24 PM
© Reuters. FILE PHOTO: Bernard Arnault, Chairman and Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton, attends the LVMH innovation award event at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center

By Casey Hall and Mimosa Spencer

SHANGHAI/PARIS (Reuters) - LVMH chairman and CEO Bernard Arnault has touched down in China, kicking off a flurry of interest on social media in a key market for his group's sprawling luxury empire.

The executive, who was expected to make a visit this month, walked through the WF Central mall in Beijing, China on Tuesday, photos circulating on social media showed. A Beijing resident told Reuters she saw him there at around midday.

The photos showed Arnault with his daughter, Dior CEO Delphine Arnault, and son Jean Arnault, who works for Louis Vuitton, as well as Dior's China president Monika Figlewicz.

Other Beijing residents, posting on social media site Xiaohongshu, reported seeing Arnault at luxury department store SKP.

LVMH, which owns labels ranging from Hennessy cognac to fashion houses Dior and Louis Vuitton, declined to comment.

Louis Vuitton is gearing up to hold future events in the Chinese market.

"The Chinese are very important clients," Louis Vuitton CEO Pietro Beccari told Reuters in an interview last week. He said it was too soon to say when the label's creative director for menswear Pharrell Williams, who recently held his debut fashion show for the label, could hold events in China.

© Reuters. FILE PHOTO: Bernard Arnault, Chairman and Chief Executive Officer of LVMH Moet Hennessy Louis Vuitton, attends the LVMH innovation award event at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. REUTERS/Gonzalo Fuentes/File Photo

China is also a key focus for the group's global retail overhaul for Tiffany.

China is a major driver of global luxury product growth now that COVID lockdowns have been lifted. While demand in China has had a patchy recovery, wealthier shoppers have helped the luxury sector outperform other consumer categories in China.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.