Arnault Says LVMH Has No Plan to Relocate After Remarks Draw Ire

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,” Arnault said in a post on the company’s X account Friday. When he voiced discontent with France at an earnings presentation on Tuesday he only wanted to sound an alarm over tax measures that he deems will be “counter productive,” he added.

“What I said is that the tax measures that are being considered are an incentive to relocate, since ...