For the first time in a long time, LVMH boss and controlling shareholder Bernard Arnault did not take part in the luxury goods group’s annual results presentation on Tues. Jan. 26. Luxury market analysts traditionally weighed every one of the luxury king’s words in his opening remarks at this time of year because they contained useful insights and predictions about the industry.
As the world is still fighting the Covid-19 pandemic, the absence of the 70-year-old luxury magnate sent a strange message. It would have made sense for the leader of the industry’s biggest luxury group to reassure its 166,000 staff and hundreds of thousands of partners and clients. Arnault could have said a few words about how LVMH was in fighting form and well positioned to benefit from the expected rebound once the world got vaccinated against the coronavirus. LVMH did not give an explanation for Arnault’s no show, pointing to the fact that this year, exceptionally, there was no physical news conference for him to attend as usual.
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