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\u201cImagination is more important than knowledge,\u201d LVMH chair and CEO Bernard Arnault said on Thursday, quoting Einstein at the group\u2019s annual general meeting, while sporting a Louis Vuitton Tambour Einstein watch. Held at the Carrousel du Louvre in Paris, Arnault addressed key topics including the impact of the Middle East crisis, the reception of Jonathan Anderson\u2019s first collections at Dior, and the CEO\u2019s succession plan.<\/p>\n
During the meeting, Arnault dismissed speculations about a sale of Paris department store La Samaritaine, which LVMH reopened in 2021 after 16 years of renovation<\/a> and whose footfall has been lower than expected. \u201cOf course, we want to keep it. It\u2019s an extraordinary asset and we\u2019ll make it work,\u201d he said. \u201cWith [Le Bon March\u00e9 chair and CEO, who is also leading La Samaritaine] Patrice Wagner and his team, I\u2019m sure we\u2019re going to achieve something amazing.\u201d<\/p>\n The timing of the general meeting coincided with LVMH\u2019s share price dropping around 25% since the beginning of the year. The world\u2019s largest luxury conglomerate \u2014 which generated \u20ac80.8 billion in sales in 2025, down from \u20ac84.7 billion in 2024 \u2014 is not immune to the wider luxury downturn, or global uncertainties. In Q1 2026, LVMH sales were up 1%<\/a>, while fashion and leather goods sales were down 2%. But Arnault reiterated his confidence in the luxury sector \u2014 and in his five children, who each spoke in turn about their respective fields: Jean, watch director of Louis Vuitton; Fr\u00e9d\u00e9ric, CEO of Loro Piana; Alexandre, deputy CEO of Mo\u00ebt Hennessy; Delphine, chair and CEO of Christian Dior Couture; and Antoine, LVMH director of image and environment.<\/p>\n The chief executive seemed in good spirits, telling a 25-year-old shareholder \u201ccongratulations for buying shares. It\u2019s a good time. I do it too, each at our own scale.\u201d The Arnault family raised its stake in LVMH to over 50% of the group\u2019s share capital earlier this year.<\/p>\n Here are the key takeaways.<\/p>\n\u201cEverything depends on how the Middle East crisis unfolds\u201d<\/strong><\/h2>\n