No Need to Envy Big Tech... LVMH Chairman Sits in VIP Seat at Trump Inauguration Ceremony
Bernard Arnault, chairman of Louis Vuitton Moet Hennessy (LVMH), the world's largest luxury group, attracted attention by being invited to the VIP seats at the inauguration ceremony of U.S. President Donald Trump.
According to the daily newspaper Le Monde on the 20th (local time), Arnault sat in the front VIP seats at the Rotunda (central circular hall) of the U.S. Capitol in Washington, D.C., where Trump's inauguration ceremony was held. He was seated in the same row as former U.S. Presidents Bill Clinton, George W. Bush, and Barack Obama and their spouses.
Arnault attended the event accompanied by his wife H?l?ne Mercier and two of his children: Delphine Arnault, CEO of Christian Dior, a major subsidiary of the group, and Alexandre Arnault, the second-in-command at Tiffany & Co.
The relationship between Arnault and President Trump dates back to the 1980s. After Fran?ois Mitterrand was elected president of France in 1981, Arnault left France and worked as a real estate developer in New York, USA. It is known that he met Trump, who was in the same industry, during this time.
In January 2017, just before Trump’s first term began, Arnault visited Trump Tower in New York to meet him. Two years later, in October 2019, Trump flew with Arnault and his son Alexandre on Air Force One to La Cantera, Texas, to attend the opening ceremony of a Louis Vuitton workshop, showcasing their friendship. At that time, Trump praised Arnault in front of the media, calling him "Bernard, this artist, this pioneer."
A few days later, Arnault officially announced plans to acquire Tiffany & Co., an iconic luxury brand in New York. This marked the merger of an American company with a French entrepreneur. Despite Trump's protectionist stance under the "Make America Great Again" (MAGA) policy, he tacitly approved Arnault’s acquisition of Tiffany.
Arnault’s lobbying is also considered effective in protecting champagne sales in the U.S. In early 2020, the U.S. government imposed a 25% tariff on French wine producers as retaliation against the European Union’s support for Airbus, but Mo?t & Chandon, Veuve Clicquot, and other brands under the LVMH group were exempted.
In his inauguration speech that day, President Trump repeatedly stated, "We will impose tariffs and taxes on foreign countries to make our citizens wealthy," sharply targeting trading partners. Le Monde noted that the French luxury industry was anxious about potential damage from Trump’s remarks, but Arnault was expected to be in a relatively better position than other European competitors.
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LVMH operates three Louis Vuitton factories in the U.S. and is estimated to supply goods to more than 100 stores across the country.
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