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LVMH’s Arnault Sees Signs for Gradual Luxury Recovery This Year

  • Encouraging signs for luxury giant as strict lockdowns end
  • Investors back Arnault’s 2019 pay despite some opposition
Customers wearing protective masks shop inside a Louis Vuitton store in San Francisco.
Customers wearing protective masks shop inside a Louis Vuitton store in San Francisco.Photographer: Michael Short/Bloomberg

Billionaire Bernard Arnault said his luxury conglomerate LVMH is witnessing encouraging signs of a recovery, though it will be gradual.

“The signs of recovery in June are quite vigorous in some activities,” the company’s chairman and chief executive officer said at Tuesday’s annual meeting of shareholders, which was held online only due to the pandemic.