Discover the future leader of the prestigious LVMH luxury empire
BERNARD ARNAULT proudly refers to LVMH as une affaire de famille. The world’s wealthiest man affectionately calls the €400bn ($425bn) luxury giant, where he holds key positions, “a family affair”. All five of his children are actively involved in the business. At the recent LVMH annual general meeting, two of his sons (Alexandre and Frédéric) are set to join Delphine and Antoine, his eldest children from his first marriage, on the board. The youngest, 26-year-old Jean, is yet to secure a board seat.
Arnault père is set to lead LVMH for another five years. Shareholders, recognizing his success in growing their wealth alongside his own, extended the CEO’s mandatory retirement age from 75 to 80 in 2022. Known as the “wolf in cashmere” for his sharp dealmaking skills, the billionaire shows no signs of slowing down. However, recent boardroom changes and strategic job placements hint at the grooming of his successors.
Delphine assumed leadership of Christian Dior last year, the renowned fashion house that is LVMH’s second-largest brand. Antoine now heads the family holding company overseeing LVMH. Alexandre plays a key role at Tiffany & Co, a prestigious jeweler. Frédéric and Jean are actively involved in the group’s watch division.
2024-04-18 07:59:29
Originally published on www.economist.com