Two Cartier watches also topped their estimates at Christie’s “The Collection of Sir Elton John: Goodbye Peachtree Road” evening sale.
LVMH Producing Hand Sanitizer to Help in Coronavirus Fight
The luxury titan will use its perfume and cosmetics production sites to make and provide free hand sanitizer to French health authorities.
Paris—LVMH is lending a hand to French health authorities as the number of coronavirus cases in the country continues to rise, the Paris-based company announced in a press release Sunday.
On Monday, the perfume and cosmetics arm of the luxury conglomerate began using its production sites to make hydroalcoholic gel, or hand sanitizer.
These sites normally produce Christian Dior, Guerlain and Givenchy perfumes.
The hand sanitizer will be delivered free of charge to French health authorities and provided to Assistance Publique – Hôpitaux de Paris, the public hospital system in Paris.
“Through this initiative, LVMH intends to help address the risk of a lack of product in France and enable a greater number of people to continue to take the right action to protect themselves from the spread of the virus,” said LVMH.
Hand sanitizer must have at least 60 percent alcohol to be effective, according to the U.S. Centers for Disease Control and Prevention’s guidelines, but washing hands with soap and water may be the best way to prevent the spread of the virus.
France has had 127 coronavirus deaths and recorded 5,380 confirmed cases, the third-highest total in Europe, according to Monday’s update from the World Health Organization.
President Emmanuel Macron announced on Monday that the country will enact a 15-day lockdown to combat the spread of the virus.
LVMH said it will continue to provide hand sanitizer for as long as necessary.
The luxury titan owns a number of high-end brands, including Louis Vuitton, Christian Dior, Bulgari, TAG Heuer and Hublot.
CEO Bernard Arnault addressed the potential impact of COVID-19 in the company’s fourth-quarter results in January.
“The first reaction is: ‘Don’t panic, let’s calmly analyze the situation’,” he said, according to a Reuters report.
Arnault said he was told by Chinese authorities that the peak of the virus is expected to pass within weeks and settle down by the end of March.
The situation has changed since then, with global efforts ramping up and businesses shutting down to combat the spread of the virus.
“If it dies out in two months or two months and a half, it’s not terrible. If it takes two years, that’s a different story,” he said.
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