LVMH orders 40 million masks from China for France

This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXMPEB280W7_M.jpg
© Reuters. © Reuters.

PARIS (Reuters) – LVMH (PA:), the world’s biggest luxury goods group, is ordering 40 million health masks from a Chinese supplier to help France cope with the coronavirus outbreak.

The first order, for a total of 10 million masks, will be delivered in coming days, LVMH said in a statement on Saturday. This initial batch will be given to the French health service for distribution to those in need early next week.

The rest of the order, on which LVMH cooperated with the French government, will be funded by the state and should be delivered in coming weeks.

LVMH, owner of brands such as Louis Vuitton and Christian Dior and controlled by France’s richest man Bernard Arnault, is already producing and delivering free-of-charge hand sanitizer to French hospitals.

“In order to secure this (mask) order during an extremely tense period and to ensure that the production begins today, Bernard Arnault arranged for LVMH to finance the whole of the first week of deliveries, amounting to 5 million euros ($5.4 million),” the group said.

Countries around the world are struggling to deal with the biggest public health crisis since the 1918 influenza pandemic, with medical supplies and protective gear in short supply.

Many health professionals in France have criticized the shortages as the country fights coronavirus and entered a unprecedented lockdown on Tuesday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment