Arnault, the billionaire CEO of the luxury conglomerate, had criticized proposed French tax hikes earlier this week.

After a year of declines, sales of watches and jewelry at luxury giant LVMH rebounded in the latest quarter and continued to shine into January, according to several of the company’s brand CEOs.

LVMH has no plans to relocate the luxury conglomerate, said Bernard Arnault, its billionaire chief executive officer, after remarks he made critical of France drew a backlash at home.“I’ve obviously never said we would relocate the LVMH group,

French luxury conglomerate LVMH saw its stock slide by more than 6% following the Tuesday evening reveal of its 2024 annual results.

British fashion designer Kim Jones is stepping down as artistic director for menswear at Christian Dior, the LVMH-owned label said on Friday, signalling a potential shift in its design approach as the brand struggles with slowing sales.

LVMH’s Q4 earnings show mixed results but resilience in key segments. Learn why LVMHF stock is a buy, with strong long-term growth despite margin pressures.

Shares in LVMH were on track for their largest drop in 14 months on Wednesday after the luxury goods group's latest sales figures disappointed investors hoping for stronger signs of a rebound at the sector bellwether.

"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault said.

While LVMH's results "challenge the sector narrative that all luxury companies have seen the acceleration" seen at Richemont and Burberry, it reinforces the idea of a quicker recovery this year than expected in October, analysts at Deutsche Bank said in a note to clients.

LVMH shares dropped as slightly better-than-expected full-year results from the world’s largest luxury company threw doubt over a broader sector recovery.

Over two days of schmoozing with executives employed by one of the most powerful groups in the industry, here are the comments that stood out.

"LVMH sees FY24 net profit slide amid economic headwinds " was originally created and published by Retail Insight Network, a GlobalData owned brand.