---
title: "French Protesters Briefly Storm LVMH Headquarters in Paris"
description: "Protesters briefly stormed the Paris headquarters of LVMH on Thursday ahead of a labor union-led march against Emmanuel Macron’s pension reform, setting off flares in the building on the chic Avenue Montaigne."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2023-04-13-french-protesters-briefly-storm-lvmh-headquarters-in-paris/"
published: "2023-04-13T17:51:31"
lang: "en-ZA"
word_count: 238
---

# French Protesters Briefly Storm LVMH Headquarters in Paris

> Protesters briefly stormed the Paris headquarters of LVMH on Thursday ahead of a labor union-led march against Emmanuel Macron’s pension reform, setting off flares in the building on the chic Avenue Montaigne.

By Bloomberg · Published 13 April 2023, 19:51 SAST

## Key points
- French protesters have taken their fight against the government's pension reform to new heights, targeting symbols of capitalism and luxury in a bid to put pressure on the wealthy. But with LVMH’s multibillionaire founder Bernard Arnault's fortune at an all-time high, it remains to be seen if their efforts will bear fruit.
- French protesters have targeted symbols of capitalism and business in response to the president's plans to raise the minimum retirement age.
- The government says raising the pension age is necessary to boost employment and halt deficits, while unions argue for higher taxes on business and the wealthy.
- LVMH reported strong first-quarter sales as Chinese shoppers splurged on luxury goods.
- Bernard Arnault, founder of LVMH, became the world’s wealthiest person last week with a fortune of $198 billion.

## Content

Opponents of the president’s plan to raise the minimum retirement age to 64 from 62 are increasingly targeting symbols of capitalism and business in France after the organized protests in recent weeks had little impact on the government’s plans.

On the morning of the previous day of strikes, small groups entered buildings housing the offices of BlackRock Inc. and Natixis SA.

“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 from the Sud-Rail unions said on BFM TV after leaving the luxury company’s building.

Macron’s government says raising the pension age is vital to boost employment rates and halt the build-up of deficits in the massive public retirement system as the population ages. Unions say changing the age thresholds to claim a full pension will disproportionately penalize the least well-off and that there are other options to balance the system, including higher taxes on business and the wealthy.

LVMH shares rose to a record on Thursday after the company reported strong first-quarter sales as Chinese shoppers emerged from the world’s strictest lockdowns and splashed out on luxury handbags and jewelry.

LVMH’s multibillionaire founder, Bernard Arnault, saw his fortune cross the symbolic $200 billion threshold last week. On Thursday, it stood at $198 billion, according to the Bloomberg Billionaires Index, making Arnault the world’s wealthiest person.