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France Richest Man and Chairman of LVMH Bernard Arnault Gives Son Key Role

France Richest Man and Chairman of LVMH Bernard Arnault Gives Son Key Role

Bernard Arnault, the chairman of world’s leading luxury company LVMH and France’s richest man, has given his son Antoine Arnault a key role to manage image and communication at LVMH.  Already CEO of Berluti and chairman of Loro Piana, Antoine and his siblings are holding key roles in the publicly listed LVMH Group.

” France Richest Man and Chairman of LVMH Bernard Arnault Gives Son Key Role “

Bernard Jean Étienne Arnault, is chairman of LVMH group and France’s richest man with a personal net worth exceeding $80 billion.  30 years ago in 1988, he had acquired a large block of LVMH shares through an investment holding company.  In 1989, he acquired a large shareholding in the company and to prevent a potential breakout of LVMH group, and became the Chairman in 2017.

Today, LVMH is the world’s leading luxury products group with more than 70 brands, 42.6 billion euros ($49.95 billion) revenue in 2017, 145,000 employees and a retail network of over 4,370 stores worldwide.  LVMH group owns many leading luxury brands including brands such as Moet et Chandon, Dom Perignon, Glenmorangie, Krug, Hennessy, Veuve Clicquot,  Christian Dior, Fendi, Loewe, Marc Jacobs, Bvlgari, Hublot, TAG Heuer, Zenith, DFS and Sephora.

Born in 1949, Bernard Arnault has 5 children (1 daughter and 4 sons) from 2 marriages.  His daughter Delphine Arnault is an executive vice president at Louis Vuitton while his son Alexandre Arnault was named the co-CEO of Rimowa (German’s luggage maker) at the age of 24 in 2016.  Another son, Frederic Alexandre at age 23, had became the Head of connected technologies for Tag Heuer.

Source: BloombergLVMH

 

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