Recession for Bernard Arnault and LVMH

Bernard Arnault, CEO of the luxury goods group LVMH, is facing a challenging period as the company experiences its biggest recession in the last 36 years.

The drop in demand in the Chinese market and the potential imposition of stricter tariffs by the United States have led the 76-year-old businessman to tenth place in the global ranking of the richest people, according to Bloomberg.

LVMH, an empire worth 85 billion euros, had benefited significantly from the rise of the luxury goods market, but today faces the most difficult period since Bernard Arnault took over its management.

These challenges come at a time when questions about succession in LVMH's leadership are becoming increasingly acute.