Tip News

November 21, 2019

Fashion statement: Trump inaugurates new Louis Vuitton US site - Tip News

Fashion statement: Trump inaugurates new Louis Vuitton US site

Fashion statement: Trump inaugurates new Louis Vuitton US site
'Chief Executive of LVMH Bernard Arnault (R), CEO of Louis Vuitton Michael Burke (C) and US President Donald Trump visit the new Louis Vuitton factory in Alvarado Texas, October 17, 2019' - By: AFP Nicholas Kamm

President Donald Trump attended the opening of a new production site in Texas for the posh handbag maker Louis Vuitton on Thursday, drawing the French luxury powerhouse into the US leader's job-creation pitch as he gears up for next year's re-election campaign.

The event presented a rare chance for a meeting between Trump and a foreign business leader, as Bernard Arnault, head of the LVMH conglomerate that owns the leathergoods brand, also attended the event at the "Rochambeau Ranch" near Dallas.

"We proudly celebrate the opening of the brand new Louis Vuitton -- a name I know very well. Cost me a lot of money over the years," the US president said, applauding their $50 million investment.

"This investment in job creation reflects the strengths of our US business, which continues to grow," said Arnault, whom Forbes magazine has ranked as the third-richest person in the world.

"I always believed in the fact that America is a land of opportunity," he said.

Rochambeau Ranch, near the small city of Alvarado, is named for the general who led French troops alongside the 13 colonies in the American Revolution.

It is expected to employ about a thousand skilled workers within five years, according to Arnault.

Arnault was one of the first high-profile French business leaders to meet with Trump in January 2017, just weeks after his election, when he suggested he would consider expanding Louis Vuitton in the United States.

The American market generates a quarter of LVMH's sales overall, and it already has two US production sites in California for Louis Vuitton, whose handbags can cost thousands of dollars.

The company has said half the Louis Vuitton workers it hires have no previous experience in leathercraft, and receive intensive in-house training before being allowed to cut or sew.

The brand first opened in 1859 in Asnieres, France. Overall, the LVMH group and its 70 brands saw a record-breaking 2018, with 46 billion euros ($51 billion) in profits.

Trump, who is fending off an impeachment inquiry, is seeking to mobilize supporters at a campaign rally nearby in Dallas Thursday night.

Short link: https://tipnews.com/u/MTExMDU2

See also:

Related articles

Israeli PM Netanyahu defiant after corruption indictment

Israeli PM Netanyahu defiant after corruption indictment

Israel's Benjamin Netanyahu on Thursday became the country's first prime minister to be indicted in office, on corruption charges, but defiantly condemned the "coup" against him and vowed to hold onto power.The shock announcement compounded the political c

Calls to abolish death penalty in Japan as Francis visit looms

Calls to abolish death penalty in Japan as Francis visit looms

On the eve of a visit by Pope Francis to Japan, activists called Friday on the government to declare a moratorium on executions as part of an Olympic truce to mark Tokyo 2020.The pope is expected to shine a spotlight on the death penalty in Japan, where it enj

Protesters say 'real independence' close as Lebanon turns 76

Protesters say 'real independence' close as Lebanon turns 76

Lebanon was marking 76 years of self-rule on Friday, but protesters say that only this year are its people experiencing "real independence".An unprecedented protest movement has gripped the small Mediterranean country since October 17, demanding the complete



HELLO, PLEASE TAKE A MOMENT TO RATE THIS POST Fashion statement: Trump inaugurates new Louis Vuitton US site

Sending comment Close