When questioned about Emmanuel Macron’s call for economic patriotism in response to US tariffs, the CEO of LVMH strongly distanced himself from his counterpart at Kering, François-Henri Pinault. While the latter ruled out manufacturing his Gucci bags in the United States, Bernard Arnault made no promises. He urged Europe to negotiate better with Donald Trump to avoid a “catastrophe.”
LVMH is not Kering; Bernard Arnault does not think like François-Henri Pinault, and vice versa…
The relatively frosty relations between the two French luxury groups are well known.
In 1999, Bernard Arnault was not pleased to see Gucci snapped up by the PPR (Pinault-Printemps-la Redoute) group, founded and headed by François-Pinault, which at the time was focused on mass market distribution.
A long-standing rivalry
But we know how the story unfolded, and PPR, since renamed Kering and now headed by François-Henri Pinault, the founder’s son, has transformed itself into a pure-play luxury goods company. Today, it is facing well-known difficulties in reviving its former gem, Gucci.
Discover our plans Subscribe for 1€ Become an active member of the community of luxury leaders.
To continue reading this article, subscribe or log in to your account
Read also > Kering: Faced with US trade pressure, the group rules out any relocation plans
Featured photo: © Public Sénat
