French luxury conglomerate LVMH saw its stock slide by more than 6% following the Tuesday evening reveal of its 2024 annual results.

Arnault announced that world-famous jewelers Tiffany & Co will be laying off or “promoting outwards” underperforming workers.

He’s someone Trump really looks up to and wants to make happy,” a source said of LVMH CEO Bernard Arnault, the wealthiest man in France.

Bernard Arnault is outpacing Elon Musk and Mark Zuckerberg in wealth gain this year after signs of a rebound in luxury demand boosted LVMH stock.

With the economic outlook in France looking grim, Arnault said LVMH, which owns Louis Vuitton, Dior, Fendi and Moët & Chandon, is "seriously" considering opening more factories in the United States. Such a move would help the company to avoid the tariffs Trump has promised to enact on foreign goods sold in the United States.

LVMH has made a good start to 2025, CEO Bernard Arnault said on Tuesday, after the luxury conglomerate posted a slight rise in fourth-quarter sales, though analysts cautioned it may still fall short of heightened market expectations after recent share gains.

The luxury goods group headed by Bernard Arnault ends its 2024 financial year with sales of €84.7 billion, down 2% on 2023.

The core fashion and leather goods business—which houses Louis Vuitton and Dior—recorded revenue of €11.14 billion for the quarter, surpassing analysts’ forecasts of €10.915 billion.

There’s a different mood” between the two countries, said the French billionaire. Read more at straitstimes.com.

The LVMH Moët Hennessy Louis Vuitton titan had prime seating near former Presidents Bill Clinton, George Bush and Barack Obama.

The new men’s collection from LVMH’s crown jewel came with a heavy dose of nostalgia – plus hues of pink and dustings of glitter