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Bernard Arnault, chairman and CEO of LVMH Moët Hennessy Louis Vuitton SA, has expressed concerns over France's newly proposed tax measures. He said that these measures incentivize offshoring by taxing domestic production while leaving outsourced companies unaffected. The statement was made via LVMH Presse on X on January 31.
"the proposed tax measures serve as an incentive for offshoring, as they tax Made in France products," said Arnault. "As for Mr. Leclerc, since he appears eager to defend French SMEs, I suggest that he sell more French products in his supermarkets. and stop squeezing French suppliers to the point of endangering them by constantly pushing for lower prices."
In response to Michel-Édouard Leclerc’s comments regarding his remarks about the proposed French tax measures, Arnault denied any intention to relocate LVMH. However, he argued that the tax policies themselves encourage relocation by penalizing domestic production while sparing outsourced companies. He also challenged Leclerc to demonstrate support for French businesses by prioritizing local products in his supermarkets instead of pressuring suppliers for lower prices, according to Entrevue.fr.
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