Bernard Arnault, the billionaire CEO of LVMH, has arrived in China for a week-long visit. He is accompanied by his daughter, Delphine Arnault, who holds the position of executive vice president in the group, and Michael Burke, the CEO of Louis Vuitton.
China has become a crucial market for LVMH, with the group experiencing a 23% growth in sales in the country during the first quarter of 2023. Chinese clients now constitute the largest customer group for Louis Vuitton.
Arnault’s visit includes meetings with government officials and business leaders, as well as visits to LVMH’s stores in China.
Michael Burke emphasized the significance of Chinese clients for Louis Vuitton in an interview with WWD. He stated that the company is dedicated to further investment in China and has plans to open additional stores in the country.
The visit by Arnault and his team reflects LVMH’s confidence in the Chinese market. The group is among the luxury brands that are optimistic about China’s ongoing economic growth.
