How a small export newsletter became the authoritative voice of French economic liberalism

Entertainment · Published 3 October 2026 Swipe more like this →

In short: Founded by the Servan-Schreiber brothers in 1908, Les Echos evolved from a modest monthly export bulletin into France’s premier business daily. Now owned by LVMH, the publication serves as a staunch advocate for market-driven economics, navigating decades of family feuds, foreign acquisitions, and high-stakes editorial controversies along the way.

The publication began as Les Echos de l'Exportation, a four-page monthly established in 1908. After expanding to a weekly format in 1913, it faced interruptions during both World Wars before finally transitioning into a daily newspaper in 1928. By 1937, it had cemented its status as an essential resource for economic circles. The post-war era, spanning 1945 to 1960, was defined by the Servan-Schreiber family, though internal discord eventually forced a sale in 1963 to Pierre and Jacqueline Beytout, who sought to transform it into a truly international economic daily.

The paper's ownership history reflects broader shifts in the French media landscape. In 1988, the British group Pearson PLC acquired the publication despite fierce opposition from French officials like Édouard Balladur, who questioned the foreign ownership. This era of international control ended in 2007 when the LVMH group, led by Bernard Arnault, purchased the newspaper. Under LVMH, the paper has continued its tradition of economic liberalism, explicitly defending the superiority of markets over central planning, a stance that has occasionally led to friction regarding editorial independence and political neutrality.

Editorial tensions have surfaced periodically, notably in 2017 when journalists protested the alleged censorship of an interview with politician François Ruffin. Furthermore, the paper's political leanings remain clear; it openly opposed the left-wing coalition during the 2022 French legislative elections. Arnault himself has been candid about his expectations, noting in 2022 that he would be embarrassed if the publication were to promote Marxist economic theories. Despite these pressures, the paper remains a significant force, publishing analyses from prominent economists like Joseph Stiglitz and Kenneth Rogoff.

Today, the publication is part of the Les Echos-Le Parisien Group. It has expanded its scope far beyond traditional finance, covering technology, green growth, and leadership strategy. While its circulation figures have fluctuated—reaching 728,000 in 2000 and settling at 135,196 by 2020—it remains a critical fixture in the French media ecosystem, balancing its role as a newspaper of record with the demands of its corporate ownership.

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