Industry leader LVMH has become the first major luxury group to give staff bonuses to help them cope with rampant inflation in France. Russia’s invasion of Ukraine has disrupted energy markets which in turn has brought inflation to levels not seen in forty years. Inflation in France is now at more than 6 percent on an annual basis.
LVMH, Europe’s most valuable company with a market capitalization of more than 300 billion euros, joins a growing list of blue-chip companies that have announced similar bonuses earlier this month. These include Air France and Stellantis, the car group born from the merger of Fiat Chrysler and Fiat PSA.
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