As stock prices of LVMH, the French fashion conglomerate, rose to a record high yesterday (+4.6%), hundreds of thousands of people stormed the company’s headquarters on Champs-Élysées. Across the country, citizens are protesting new government plans of increasing the retirement age from 62 to 64.
LVMH, which owns fashion favourites Dior, Louis Vuitton, Tiffany & Co. and several more is the most valuable company in Europe, reporting a 17% increase in revenues in the last quarter. Chairman Bernard Arnault was also recently named the richest person alive, outnumbering Elon Musk, with a net worth of about $233 billion.
“If Macron wants to find money to finance the pension system, he should come here to find it,” a union leader told CNN at the time of the protests.
This is only one in a series of protests that have been sparked throughout the country. For further updates, stay tuned.
