LVMH’s Bernard Arnault Makes Shock Go to to Beijing

SHANGHAI — Bernard Arnault, chairman and chief govt officer of LVMH Moët Hennessy Louis Vuitton, landed in Beijing on Tuesday, visiting key retail areas within the nation’s capital metropolis.

For his first post-pandemic China go to, Arnault made stops at SKP Beijing, China World Mall and WF Central in downtown Beijing and carried out retailer visits at LVMH manufacturers comparable to Dior, Tiffany & Co., Louis Vuitton, Loro Piana, Fendi and Bulgari.

In response to social media posts shared on Xiaohongshu, the social-commerce platform, Arnault was accompanied by his daughter, Delphine Arnault, chairman and CEO of Christian Dior Couture; his youngest son Jean Arnault, director of promoting and improvement, Louis Vuitton watches, and different high executives at LVMH.

In response to Xiaohongshu, Arnault spent a selected period of time at Dior boutiques. He additionally made a fast cease at Hermès‘ SKP Beijing retailer.

The Arnault entourage additionally stopped at The Espace Louis Vuitton in Beijing, an cultural and artwork area adjoining to the China World Mall that opened in 2017.

An LVMH spokesperson declined to touch upon Arnault’s China itinerary, however it’s believed the LVMH chief will journey to Chengdu, then Shanghai, each key retail hubs for the luxurious items conglomerate in China.

In April, Arnault and senior members of the LVMH administration crew met with Wang Wentao, China’s Minster of Commerce, in Paris. Arnault revealed that LVMH will take part within the sixth China Worldwide Import Expo in Shanghai later this 12 months. Wang expressed his satisfaction with the power and variety of the world’s largest luxurious group’s dedication to China, praising the “many industrial and cultural contributions” made by numerous manufacturers below the group.

Arnault’s China go to comes after a collection of high-profile journeys made by luxurious executives to the nation in current months. Final Feburary, François-Henri Pinault, chairman and CEO of Kering, grew to become the primary luxurious govt to go to China because the nation reopened final December. 

Arnault’s anticipated China go to was first reported by Reuters earlier this month. 

China’s post-COVID-19 restoration helped raise LVMH’s first quarter income by 17 %. Asia, excluding Japan, registered 14 % development within the first quarter. Regardless of a swift rebound for the primary half of 2023, an impending slowdown out there meant that luxurious gamers will proceed to court docket huge spenders in a bid to maintain the excessive degree of development seen in the course of the previous decade.

Louis Vuitton and Dior, two of the most important manufacturers at LVMH, have been revamping their present flagships and opening up unique salons to raised serve tremendous VIPs in China.