Last week, Bernard Arnault, the Chief Executive Officer of LVMH, the French conglomerate that owns many luxury brands, including the Hennessy line of cognacs, meet with President-Elect Donald Trump.
After the meeting at Trump Tower, Messr. Arnault hinted at the possibility of opening more manufacturing capacity in the United States.
JUST IN: Trump speaks to reporters in Trump Tower lobby again after meeting with the chief executive of luxury goods company LVMH. pic.twitter.com/ZsJ3VMo1b9
— CNBC Now (@CNBCnow) January 9, 2017
In addition, to eyeing manufacturing opportunities in the United States, LVMH must also be excited about the prospect of a potential Trump “Cognac Effect“ that may boost sales of luxury goods, including cognac, if Mr.Trump’s proposed tax cuts are implemented, leaving wealthy consumer with more discretionary cash to purchase LVHM goods like Christian Dior, Givenchy and Guerlain perfumes, Louis Vuitton and Fendi leather goods and Hennessy cognacs.