Bloomberg News

LVMH Guarantees Work as Contractor Seeks to Save French Factory

February 01, 2012

Feb. 1 (Bloomberg) -- LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, offered to guarantee “several years” of work to a French factory to aid a supplier’s attempt to keep the plant open.

Sofama, based in Auvergne, France, is seeking to take over the Lejaby leather-goods factory in Yssingeaux, LVMH said today in a statement. French President Nicolas Sarkozy said in a televised interview Jan. 29 that he would find a way of saving the facility, promising to keep high-skilled workers in France.

“We are proud today to facilitate the rescue of jobs at the Yssingeaux site and to contribute to the battle for employment in France,” LVMH Chairman and Chief Executive Officer Bernard Arnault said in today’s statement.

--Editors: Paul Jarvis, Sara Marley

To contact the reporter on this story: Andrew Roberts in Paris at aroberts36@bloomberg.net

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net


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