It’s become Europe’s first company to reach a market capitalization of 400 billion dollars. French luxury group LVMH reports its full-year earnings tonight (Thursday) after market close. The recent management reshuffles at the helm of the luxury empire has also fueled speculation about billionaire Bernard Arnault’s succession plan.
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There’s no better place than Cannes on the French Riviera to talk about luxury and its biggest empire, LVMH. The group’s fashion brands Christian Dior Louis Vuitton and Givenchy are regulars on the red carpet. Along with jewelry makers.= Bulgari and Chaumet. While Moet or Dom Perignon champagnes are
Often flowing behind the scenes. In total, LVMH count seventy five luxury brands. The founder and CEO of the French conglomerate, Benard Arnault, became the world’s richest man last month after the net wealth of Tesla’s Elon Musk tumbled. Bernard Arnault can stay at the helm of his luxury powerhouse until he’s 80, after
The company lifted the maximum age of its CEO. But over the past few years, he’s been carefully crafting his succession plan, slowly elevating his five children to bigger roles. His only daughter, Delphine, has just been named CEO of the couture brand Dior.
His eldest son, Antoine, now runs the Christian Dior Family Holding, which controls LVMH. The third child, Alexandre has been a vice president, a jeweler, Tiffany, which his father acquired during the pandemic for 16 billion dollars in the most high profile luxury M&A saga. Then you’ve got Frederic, who runs the Swiss watchmaker Tag
Heuer. And the youngest one, Jean, 24 years old, is developing Louis Vuitton watches. All five of the billionaire’s heirs are vying to take over their dad’s luxury empire and incidentally, Europe’s most valuable company.
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Must be nice