French conglomerate LVMH was targeted after setting a share price record
Protesters in Paris have invaded the headquarters of luxury holding LVMH. The break-in happened on Thursday amid continuing mass demonstrations against a government-backed pension reform, which raises the retirement age from 62 to 64.
The rally outside of the LVMH office near the Champs Elysees gathered some 300 people with an anti-capitalist agenda, according to French media. A smaller group of people burned flares and threw smoke bombs while breaching the building, footage from the scene shows.
The surprising and brief trespass followed media reports that the fashion conglomerate enjoyed a 17% increase in sales in the first quarter, pushing the price of its shares to a record high. LVMH owns several high-profile brands, including Christian Dior, Louis Vuitton, Moet and Hennessy. Majority owner Bernard Arnault has become the world’s richest man on the back of corporate success, according to the latest Forbes ranking of billionaires.
On Thursday of last week, French protesters forced their way into the office of another prominent corporation, the US asset management and investment behemoth BlackRock.
Hundreds of thousands of people in France have been marching for weeks in opposition to the reform, which was pushed through by the government of President Emmanuel Macron. His favorite restaurant, La Rotonde, was set on fire last week by a group of some 300 rioters, who also clashed with security forces.
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This week’s demonstration comes on the eve of an expected court ruling on whether the government’s controversial passage of the reform without a vote in parliament was constitutional.
