The reshuffle comes at a critical juncture for LVMH in China. In its full-year 2025 results, the group reported revenue of 80.81 billion euros, down 4.6% year on year. Recurring operating profit fell 9% to 17.76 billion euros, while net profit declined 13% to 10.88 billion euros.
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And increased development will only exacerbate flooding – concreting over surfaces for housing or car parks prevents rain being absorbed and instead it runs off into drains and rivers which can become overwhelmed and breach defences.
It was ordered after a letter, understood to have been written by a former Wembley employee, raised concerns about safety measures.