Jean-Christophe Babin, the new CEO of LVMH Watches, whose brands include Hublot, Tag Heuer, and Zenith, says the luxury group will seek to clarify how the US calculates its tariff rates before taking action.
”It is not possible to comment or take any action until we understand what it is,” Babin said briefly at Watches and Wonders in Geneva. “We are a big group. We are the world luxury leader, so we have a lot of tax experts who are connected and will try to clarify the content of the calculation so that the Swiss government can also understand better,” said Babin.
Ever since Trump’s tariff threats against various trading partners began, ”the first round has been very high, and then there are discussions. So we will see,” he added.
