LVMH Got Rid of Its Corporate Jet
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FLIGHT PATHS: LVMH Moët Hennessy Louis Vuitton has sold its private jet, and its chairman and chief executive officer Bernard Arnault will now rent one when necessary.
The French luxury titan made the disclosure Monday in an interview broadcast on Radio Classique, saying “now no one will know where I go.” He and his son Antoine Arnault, head of communications and image at LVMH, had been convened to talk about the fifth edition of the Journées Particulières, the massive event that attracted more than 200,000 visitors to ateliers in 57 of LVMH’s luxury maisons.
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Journalist Guillaume Durand brought up the subject of LVMH’s private plane, which became a hot topic over the summer in France when Twitter accounts sprung up tracking Arnault’s every takeoff and landing, critical of the carbon footprint. Some politicians seized on what they perceived as negative public sentiment and threatened to tax or ban private jets, which many large corporations use as a business tool.
Antoine Arnault noted that such tracking accounts were a concern in the face of the group’s competitors: “It’s a question of confidentiality and security.” He noted the group uses high-speed trains where possible, but airplanes are a necessity to reach certain locales.
Radio Classique is among LVMH’s media holdings.
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