From entrepreneur’s son to luxury king and richest man in Europe.
Nobel clothing brands like Louis Vuitton, Dior and Tiffany are world famous. Moët and Veuve Clicquot champagne flows at the rich’s parties. They are all part of the noble group LVMH.
Bernard Arnault (74), head of the empire, is the man behind the luxury. And his five children also sit at important interfaces within the group.
Arnault becomes the luxury king
After studying engineering, the Frenchman joined his father Jean’s real estate company in 1971. He was president of the company until 1984. In the same year, Arnault scored a coup.
With $15 million from the family business and some loans, he bought the struggling clothing manufacturer Dior. In 1989 he took over 45 percent of the LVMH group, including Louis Vuitton, Moët and the cognac brand Hennessy. Arnault becomes the luxury king!
In 1973 she married Anne Dewavrin (74), the marriage ended in divorce in 1990. Daughter Delphine (48) is now deputy head of Louis Vuitton and managing director of Dior. Son Antoine (46) is president of the shoe brand Berluti. In the fall he handed over management of the company.
Bernard Arnault (r.) with son Antoine, president of the shoe brand Berluti
The Nobel company’s sales exploded from four billion dollars in 1989 to 86 billion dollars in 2022. Arnault is in second place on Forbes’ current list of the richest people in the world. His fortune is therefore estimated at 185.9 billion US dollars.
And the number of LVMH luxury brands has also grown. More than 70 companies now belong to the group, including Bulgari and Dom Perignon.
Bernhard Arnault with his wife Hélène last summer
Traditional brand Birkenstock part of the empire
In 1991 Arnault married the Canadian pianist Hélène Mercier (63). The couple had sons Alexandre (31), Frédéric (29) and Jean (26). They also hold important positions in the group today. Alexandre is on the board of Birkenstock. In 2021, an LVMH investment company bought the traditional German company.
Arnault scion Frédéric was head of the luxury watch manufacturer Tag Heuer, then rose further up the ranks
Frédéric was CEO of the luxury watch manufacturer Tag Heuer from 2020, and since this year he has been boss of the parent watch division of the LVMH Group. And the youngest child, Jean, is also fully involved in the family business. Since 2021, the offspring has been head of marketing and development for Louis Vuitton watches.
And Arnault senior? He wants to continue – at least until his 80th birthday in 2029. Two years ago, at the annual general meeting, he had the maximum age of the CEO in the company statues increased from 75 to 80 years. It is unclear how he will arrange his succession and which of his children will inherit the patriarch’s position.