The trade war has hurt the Louis Vuitton Moët Hennessy luxury empire. Bernard Arnault, head of the company, said a failure to strike a deal with President Trump would be “the fault of Brussels.”

For Bernard Arnault, France’s richest man and head of the LVMH Moët Hennessy Louis Vuitton luxury goods empire, the year started off brightly. His friend President Trump extended a personal invitation to the inauguration on Jan. 20. Consumers in the United States, one of LVMH’s biggest markets, were snapping up the company’s Dior dresses and Tiffany jewelry.

Then came Mr. Trump’s tariffs — and a substantial plunge in the company’s share price.

“Until the end of February, everything was going very well,” Mr. Arnault told a packed auditorium of anxious shareholders Thursday at the LVMH annual general meeting in the Louvre Museum in Paris. “Then we came up against a global economic geopolitical situation that was turned upside down

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