LVMH to supply millions of face masks to France
Luxury goods group LVMH has secured an order for around 40 million face masks from a supplier in China that it will distribute across France.
To secure the order, CEO Bernard Arnault arranged for LVMH to finance the first week’s deliveries (10 million masks), costing around €5 million.
The group - which owns leathergoods and shoe brands including Loewe and Berluti – will assume management of the supply chain, delivery and custom clearance for subsequent deliveries.
It said: “LVMH should be in a position to dispatch the first masks to French health authorities this week as a result of the additional funding and the group’s ability to rapidly deploy its network.”
The group has already retooled its perfumes and cosmetics production units to manufacture and distribute large quantities of hydroalcoholic gel free of charge as the country tries to halt the spread of coronavirus.
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