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LVMH doesn’t have the luxury of pulling back from China

Livemint · 1y

Bernard Arnault, the CEO of luxury conglomerate LVMH, remains committed to investing in China despite the country's economic slowdown and geopolitical tensions. China has been a key market for LVMH, accounting for around 20% of its global sales. While other firms have been reducing their exposure to China, Arnault believes in the potential of the Chinese market and its growing middle class. LVMH has made significant investments in China, including renovating stores and planning a shopping and entertainment complex on Hainan Island. Despite the challenges, Arnault sees China as a key market for the luxury industry's future growth.