Attack on the French government was launched by luxury colossus CEO, LVMH, Bernard Arno, while leaving open the possibility of transporting most of its production to the United States.

This, following the French government’s proposal to increase taxation that will hit the country’s big businesses.

“It’s incredible. Returning to France and find that taxes will increase by 40% for businesses they produce in the country. It’s the ideal way to push companies into the creation of offshore ” The billionaire said.

On the contrary, Arno praised US President -friendly policy -makers, Donald Trump, who has announced that he will proceed with a massive reduction in taxes and bureaucracy to release “American energy”. “Taxes in America will be reduced to 15% and many states are funding production facilities. The market is growing there quickly.”

Asked if he will carry his production abroad; Arno replied that it is something that is “seriously examined” because of the attractive offer by the US authorities.

It is noted that the 75 -year -old Arno, who is the richest man in Europe, attended the swearing -in of the US president.

“I just got back from America where a wind of optimism blows. And returning to France is like a cold shower. ”

The French MPs will begin tomorrow, Thursday, discussions on the 2025 budget proposed by the country’s Prime Minister Francois Bairou, which includes tax increases of 53 billion euros and a reduction in spending, with the aim of reducing the dizzying public deficit. The measures include a 40% increase in business tax for groups with profits of more than € 1 billion.

French Finance Minister Eric Lobar said it was an extraordinary measure that will have a single year in force, but Arno is challenging it. “No one believes it,” he said on the sidelines of the press conference on the occasion of the announcement of the group’s financial results. “When you have increased taxes by 40%. Who will reduce them?”

The French government spokesman said on Wednesday that the LVMH group is the pride of France and that the government is understanding Mr Arno’s anger about taxes. The same spokesman added that taxes would be temporary and that the government of the country remains in favor of business and businesses.

The results

LVMH luxury colossus (produces the Louis Vuitton brand, as well as Moët Hennessy champagne, while its portfolio includes brands Christian Dior Couture, Givenchy, Fendi, Celine, Kenzo, Tiffany, Bulgari, Loewee, Tag Heuer, Marc Jacobs, Marc Jacobs, Stella McCartney, Sephora and Loro Piana) announced the third sales better than analysts’ estimates. Specifically, turnover exceeded 84.68 billion euros for 2024, with analysts awaiting 84.38 billion.

And at a quarter of 2024 sales exceeded average estimates, while growth came mainly from Europe, the US and Japan, with the group continuing to record “weak pace in the wider Asian market.

In terms of profits, they fell 17% to € 12.55 billion.