President Donald Trump and Ivanka Trump Will Be Present at LVMH Ribbon-Cutting in Texas
LVMH is opening a new Texas leather goods factory - and with a lot of fanfare.
The French luxury group will hold a ribbon cutting ceremony tomorrow at its Louis Vuitton Rochambeau Ranch in Keene, Texas, senior White House advisor Ivanka Trump confirmed today via Twitter. President Donald Trump and Ivanka both will be present for the event. LVMH chairman Bernard Arnault and other senior LVMH execs, including Louis Vuitton chairman and CEO Michael Burke, are also expected to attend.
Thanks to the Trump Admin's economic policies @LVMH will open Louis Vuitton Rochambeau in Texas. Along with this investment, LVMH CEO Bernard Arnault Pledged for 1,000 NEW opportunities for local artisans & leather craftsmen. https://t.co/tTY3zUwex1
- Ivanka Trump (@IvankaTrump) October 16, 2019
At present, Louis Vuitton operates 24 workshops worldwide, most of which are in Europe. Two facilities are located stateside, in California. LVMH plans to create 1,000 jobs at the Texas factory within the next five years.
The job creation is part of Trump's Pledge to America's Workers initiative, which is aimed at expanding education and training opportunities for American students and employees. Over 350 companies have signed onto the initiative, with 14,000,000-plus opportunities pledged over the next five years.
Throughout Trump's candidacy and presidency, he has emphasized the importance of job creation - speaking of his intent to bring positions back to the states from overseas. In 2019, the manufacturing sector is adding an average of 5,000 jobs per month, according to the U.S. Bureau of Labor Statistics, down from an average of 22,000 jobs added monthly in 2018. The U.S. unemployment rate has hit its lowest number since 1969, dropping to just 3.5%.Want more?
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