Protestors against the French government’s proposal to raise the retirement age from 62 to 64 briefly stormed the LVMH headquarters.
Lewis Joly/AP Photo
Protestors opposing France’s plans to raise the retirement age stormed LVMH headquarters.
Top executives, including LVMH CEO and world’s richest man Bernard Arnault, have offices in the building.
LVMH’s stock price recently reached a record high due to China’s reopening and high demand elsewhere.
Protestors opposed to the French government’s proposal to raise the retirement age to 64 from 62 stormed the headquarters of LVMH Thursday where the world’s richest man, LVMH CEO Bernard Arnault, has offices.
Photos show protestors entering the building with flags and flares, but people in the building told The Wall Street Journal the protestors did not stay for long.
Striking railway workers entered LVMH’s headquarters to protest the French government’s proposal to raise France’s retirement age.
Lewis Joly/AP Photo
French President Emmanuel Macron proposed raising France’s retirement age to 64 by 2030, saying that France’s pension system needs the reform to be able to support future generations of retirees. In March, Macron invoked a constitutional power to force the bill through without a parliamentary vote. The country’s constitutional council is set to decide on the bill on Friday.
“Apparently our government is struggling to finance our social security and pension system, so money needs to be found where it is, which is in billions in companies like LVMH,” Fabien Villedieu, a union leader for Sud-Rail, told French news channel BFM TV, outside the building.
Protestors inside LVMH’s headquarters in Paris.
Lewis Joly/AP Photo
Arnault is currently the richest person in the world, and recently saw his net worth cross over $200 billion.
LVMH, the world’s largest luxury group and home to Louis Vuitton and Moët, saw its shares reach a record high due to China’s reopening and high demand in Europe and Japan, the WSJ reported.
Protestors entering LVMH headquarters on the Rue Montaigne in Paris.
Lewis Joly/AP Photo