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Transcript
00:00There is a new top dog in the world of global billionaires, and it's someone you don't really
00:04hear too much about. Bernard Arnold is the head of global fashion conglomerate LVMH,
00:09which stands for Louis Vuitton Moet Hennessy. But how can someone selling overpriced handbags and
00:14booze compete with the founders of the largest and most influential companies in the world?
00:19Companies that are changing the way we move around, do business and consume for that matter.
00:23What's more is that France is not famous for being as business friendly as the United States,
00:28for example. Well, it's because the average person is likely to spend more on handbags and
00:33expensive bottles of wine than they are on a Tesla. For every one person that buys a Tesla,
00:38there are hundreds of people buying these bags and bottles simply because these items are much more,
00:43well, affordable. When it's considered that the profit margins on luxury goods like these can be
00:48upwards of 95% and that a lot of people have been treating themselves with $1400 stimulus checks in
00:54the past few months, well, then this is just a great business to be in.
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