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Source: AFP
Luxury elephantine LVMH saw income autumn 2 percent to 20.3 cardinal euros ($23 billion) successful the archetypal 4th of 2025 arsenic US President Donald Trump's tariffs shook the planetary economy, the institution said connected Monday.
The shaper of Louis Vuitton bags and Dom Perignon champagne, owned by Europe's richest antheral Bernard Arnault, generates a 4th of its gross successful the United States.
Despite putting up decent numbers successful fashion, watches and jewellery successful the country, LVMH saw a "slight decline" successful wide US sales, the steadfast said successful a connection -- without giving a fig for that fall.
In his alleged April 2 "Liberation Day" Trump announced a slew of tariffs connected trading partners crossed the world, including a 20-percent work connected European Union goods, earlier backtracking and suspending their implementation for 90 days.
"We each request to... enactment precise calm due to the fact that we are successful chartless territories," LVMH's main fiscal serviceman Cecile Cabanis told analysts.
"The worst is ne'er certain."
Arnault and 2 of his children were among salient figures astatine Trump's inauguration successful January. He said successful February that helium did not privation to talk about tariffs and would "prefer to effort and enactment calmly."
Arnault did admit that LVMH had been "heavily solicited" to measurement up its accumulation beingness successful the United States and this was being "seriously considered".
Since tariffs were announced by Trump however, French President Emmanuel Macron has called connected French businesses to suspend concern successful the United States.
Cabanis said that the radical could measurement up accumulation of Louis Vuitton and Tiffany goods successful the United States, wherever astir a 3rd of request was locally produced. But she indicated determination could besides beryllium terms increases for consumers.
She said LVMH hoped that the suspension of tariffs would "enable immoderate dialog and bring immoderate ... affirmative outcome."
Wine and spirits was the worst-affected assemblage for the shaper of Moet & Chandon champagne and Hennessy, plummeting 8 percent crossed the world, dragged down successful peculiar by the cognac market.
In 2024, the United States accounted for 34 percent of LVMH's vino and spirits income of 5.86 cardinal euros.
"Cognac was held backmost by weaker request successful China and the United States," LVMH acknowledged.
The radical down Loewe and Dior likewise saw its worldwide manner and leather goods gross autumn by 4 percent successful the archetypal 4th to 10.1 cardinal euros.
However perfumes and cosmetics gross held dependable astatine 2.17 cardinal euros, arsenic did its watches and jewellery concern astatine 2.48 cardinal euros.
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Source: AFP
