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  • LVMH and Christian Dior: the dirty business of luxury goods

    With no published Groupe Arnault accounts and the Carrefour share continuing its descent, the stability of the holding structure that contains over 90 (at the latest count) subsidiaries or holding companies remains in question. Article L123-5-1 of the French commercial code allows a third party to appeal to the President of the Tribunal de Commerce to compel a company to file its annual accounts. Dior and LVMH directors when asked simply stated that Groupe Arnault was a private company and so they has no obligation to communicate. That does not quite gel with what the EC considers: