While LVMH isn’t universally adored, it is broadly respected. Efforts by the group’s brands like Louis Vuitton and Dior to become more culturally relevant, particularly among young consumers, hardly hurt: Today, for every social media post and protest placard denouncing the mega-rich, there are just as many venerating their lifestyle and offering tips for how to attain it. Plenty of French people are proud that Europe’s biggest company, and the world’s richest person, are French.

Should the winds of policy ever really swing against rising inequality, LVMH will, of course, be a prime target no matter how many times they’ve opened their ateliers. But the days feel like a distant memory when, in 2011, a leading French newspaper put Arnault on its cover with the phrase “Casse toi, riche con” (politely translated as “Get lost, rich jerk”) or when François Ruffin made a national hit with his 2015 documentary “Merci, Patron!” (“Thank, Boss!”) — a political satire that featured hidden-camera footage of LVMH fixers attempting to buy off a disgruntled former worker and pressuring left-wing activists.

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