He’s someone Trump really looks up to and wants to make happy,” a source said of LVMH CEO Bernard Arnault, the wealthiest man in France.

Jean Arnault, director of Louis Vuitton’s watch division, has to contend with a tough luxury market and stubborn young consumers.

LVMH, which is controlled by the family of multibillionaire Bernard Arnault, was a major sponsor of the Summer Games in Paris.

While millions know at this point that Melania Trump adores Dior, it seems that Ivanka has a soft spot for the European house, too. The former West Wing adviser wore a Dior dark forest green skirt suit with a thin black belt and a coordinating beret-style hat to the Inauguration ceremony at the U.

The medals were designed by a jewelry maker owned by the French luxury conglomerate, which has declined to comment on their deterioration.

Novo Nordisk has faced a massive selloff in recent months amid disappointing drug trials and U.S. pressure to cut its prices.

LVMH said on Tuesday it was "impossible" to control the final destination of products sold by third-party distributors after a report said the French luxury group's champagne reached Russia even after it halted business there.

The rest of the top ten largest companies in Europe by market cap include ASML ( ASML ), SAP SE ( SAP ), Hermès International ( OTCPK:HESAY ), Roche Holding AG ( OTCQX:RHHBY ), Accenture plc ( ACN ), Nestlé S.A ( OTCPK:NSRGY ), AstraZeneca PLC ( AZN ), and Novartis AG ( NVS ).

The U.S. market’s importance was underscored by striking models pushing watchmaking boundaries in design and technical prowess.

As part of its LVMH Watch Week presentation, Gérald Genta has debuted the new Gentissima Oursin Fire Opal timepiece. The fourth piece added to the Gentissima Oursin collection, the new watch is the brand’s most flamboyant one yet – but I don’t know how to feel about it.

Burberry Group Plc shares surged after a pickup in US demand boosted the trench-coat maker’s results, raising investor hopes for a luxury-market recovery.