The Great State of Texas is now home to one of the world’s most valuable luxury brands; LVMH and President Trump will be on hand to celebrate with CEO Bernard Arnault.
The parent company of Louis Vuitton is set to open a handbag factory in Rochambeau Ranch in Johnson County, Texas. “The plan is to create 1,000 jobs in the next five years…By doing so, Louis Vuitton is making good on its support of the Pledge to America’s Workers, the educational training program that was launched last year,” Women’s Wear Daily reported.
Arnault was an early supporter of Trump visiting Trump Tower in midtown Manhattan, a stone’s throw from his offices, in January 2017. At the time Arnault eluded to expanding Louis Vuitton manufacturing with another U.S. factory.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LVMH | n.a. | n.a. | n.a. | n.a. |
“We are going to expand because of the success of the product and we are going to do that in Carolinas or Texas,” he said while speaking to reporters with Trump.
.@LVMH CEO Bernard Arnault meets with President-elect @realDonaldTrump. pic.twitter.com/sc7Lag1E41
— FOX Business (@FoxBusiness) January 9, 2017
The bags were spotted being carted to Marine One from the White House lawn as Trump and First Lady Melania prepared for a trip to Texas to tour the devastation caused by Hurricane Harvey.
On Thursday, U.S. Energy Secretary Rick Perry, who is also the former governor of the state, will join the entourage and U.S. Ambassador to France, Jamie McCourt, is also expected to attend, FOX Business has learned.
Arnault, according to Forbes, is the world’s fourth richest person with a net worth of $100 billion. Louis Vuitton is one of 70 brands controlled by LVMH, which also includes Sephora and champagne Moet Hennessy.
Louis Vuitton bags are a classic staple, with the brown and tan initials and icon. Small bags can start as low as $400, with luggage costing well into the thousands.
