Bernard Arnault, CEO of LVMH, has firmly stated that the luxury group has no intention of relocating, despite facing backlash after his criticism of potential tax increases on French firms. He clarified that these tax proposals, aimed at locally produced products, create incentives for businesses to relocate, contradicting France's economic strategy. Arnault's sentiments contrasted sharply with the optimistic business outlook he perceives in the US post-Trump's return. His remarks incited criticism from French labor leaders, highlighting tensions around corporate taxation and economic policy in France.
"I never said that we were going to relocate the LVMH group. This statement is false," Arnault said in a statement posted on the company's X account on Friday.
"What I said is that the tax measures envisaged are an incentive for relocation, since they tax Made in France products, but not relocated French companies," he added.
Collection
[
|
...
]