Protesters Storm LVMH Offices in Paris --- Rage against Macron's pension overhaul spills into other facets of French establishment

"PARIS -- Protesters stormed the headquarters of luxury conglomerate LVMH Moet Hennessy Louis Vuitton SE on Thursday as the nationwide backlash against President Emmanuel Macron's pension overhaul morphed into a populist rebuke of France's establishment.

Video footage captured a crowd of men waving flares and banners as they forced their way through the entrance of the luxury group's headquarters on Paris's tony Avenue Montaigne. 

Another video clip shows the crowd proceeding up an escalator to a reception area that leads to higher floors where LVMH Chief Executive Bernard Arnault, the world's richest man, has offices along with other top executives.

People at the headquarters said the intruders didn't stay in the building for long. Protesters had cleared out of the area by the early afternoon.

Weekly protests have raged across France for months as Mr. Macron has forged ahead with plans to raise the country's retirement age to 64 from 62 by 2030. The president further inflamed protesters by using his constitutional powers to ram the legislation through Parliament without a vote. France's constitutional council is expected to rule on the legislation on Friday.

About 380,000 people demonstrated across France on Thursday, with 42,000 people marching in the French capital, according to the interior ministry. It is the third straight week the number of protesters has fallen.

The government's wielding of executive authority has fueled a debate over whether it is time to curb the powers of the French presidency, one of the most powerful among Western democracies.

Mr. Macron says he is simply trying to save France's pension system for future generations, warning that government finances can't keep up with the swelling ranks of French retirees.

Opponents of Mr. Macron, however, say he is acting as a "president of the rich" who is intent on dismantling France's social state. Since taking office he has overhauled the French economy by stripping away job protections and abolishing the country's wealth tax. His wife, Brigitte Macron, is well-known for donning Louis Vuitton outfits during state visits and other public appearances.

Mr. Arnault has become a lightning rod since the protests began in January, with protesters carrying mock "Wanted" posters featuring his face and exhorting him and other billionaires to do more for the common good. Protesters filing into LVMH's headquarters on Thursday chanted, "There is money in the pockets of billionaires."

LVMH has ridden a surge in global demand for luxury goods, boosting sales across brands ranging from fine wine and jewelry to leather goods and upscale hotels.

On Wednesday, the conglomerate reported a sharp rise in quarterly sales, driven by a rebound in China and strong demand for its clothing, handbags and jewelry in Europe and Japan.

France's wealthy elite was in sharp focus this month, when Forbes magazine released its 2023 list of world billionaires. Mr. Arnault topped the ranking and Francoise Bettencourt Meyers, the heiress of L'Oreal, was named the world's richest woman." [1]

1. World News: Protesters Storm LVMH Offices in Paris --- Rage against Macron's pension overhaul spills into other facets of French establishment
Kostov, Nick; Meichtry, Stacy.  Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]. 14 Apr 2023: A.8.