We shall not bear anyliability in respect of such comments. [11], In July 1988, Arnault provided $1.6 billion to form a holding company with Guinness that held 24% of LVMH's shares. Arnault had an unusual professional start for a CEO in the fashion industry: he began as an engineer and property developer in his familys civil engineering company in the industrial north of France. He may be the fourth child of Bernard Arnault, the . In thesame time you shall not use vulgar, abusive or defamatory language as well as expresshatred or call to violence or cruelty. For example, when Arnault automated production at Vuitton, he drove that venerable old brand to the top spot on Fashionistas list of the world's best-selling luxury brands in 2011, with a value of $24.3 billionmore than twice the amount of its nearest competitor. [46], Under Arnault's leadership, LVMH has grown to become the largest company by market capitalization in the eurozone,[47] with a record of 313 billion euros ($382 billion) as of May 2021. Greenwich, CT and Paris - January 5, 2016 - Catterton, the leading consumer-focused private equity firm, LVMH, the world leader in high-quality products, and Groupe Arnault, the family holding company of Bernard Arnault, announced today that they have entered into an agreement to create L Catterton. He discreetly amassed a 5 percent stake in the company before being detected. [6][8] In 1984, Arnault, then a young real estate developer, heard that the French government was set to choose someone to take over the Boussac Saint-Frres empire, a textile and retail conglomerate that owned Christian Dior. We also calculated 4 valuable employees in our database. Meet CEO Bernard Arnault, the world's 3rd-richest person, who's built a $98 billion fortune as head of the luxury giant", "Another Arnault Steps Into the Spotlight", "Bernard Arnault's Youngest Son Is Working at Louis Vuitton", "LVMH's CEO Bernard Arnault Is Now the Richest Person in Fashion", - Bernard Arnault - rmunration des patrons du CAC40 en 2016, "France's Bernard Arnault Is Now World's Second-Richest Person", "French Billionaire Bernard Arnault Was (Briefly) The World's Richest Person Today", "Jeff Bezos Is No Longer The Richest Person In The World (Again)", "Luxury Billionaire Plots Rebound After Taking Biggest Virus Hit", "Luxury magnate Bernard Arnault knocks off Elon Musk on world billionaire ranking", "Jeff Bezos Is No Longer the World's Richest Man", "Forbes Billionaires 2022: The Richest People In The World", "Bernard Arnault: "Je retire ma demande de nationalit belge", "LVMH's Arnault Withdraws Belgian Citizenship Bid", "Bernard Arnault Withdraws Belgian Citizenship Bid", "The world's 2nd-richest man, Louis Vuitton's CEO, sold his private jet after people started tracking it on Twitter: 'No one can see where I go', "Billionaire Louis Vuitton Boss Bernard Arnault Sells Private Jet so You Won't Track Him", "Les petits secrets de la famille Arnault, propritaire de LVMH", " 09.10.2017 475 " ", "Bernard Arnault nomm Chevalier commandeur de l'ordre de l'empire britannique", Mr. Arnault Goes to Washington: LVMH Corporate Citizen, "Bernard Arnault to Be Honored at MoMA Luncheon", "Bernard Arnault Receives MoMa's David Rockefeller Award", A Guide to the Principal Holdings of Bernard Arnault, https://en.wikipedia.org/w/index.php?title=Bernard_Arnault&oldid=1142232018, Honorary Knight Commander of the Most Excellent, The Woodrow Wilson Award for Global Corporate Citizenship (2011), This page was last edited on 1 March 2023, at 06:38. Agla Ventures invests from 100K up to 100MM in asset light activities and fast growing tech Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. The repurchase of the stock, which will be cancelled, will happen between now and July 20. 20, 2023. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. As he had done at Dior, he canceled licensing deals that he saw as damaging the branda strategy that became part of the Arnault playbook on dozens of luxury acquisitions over the next 30 years. Tontine; History and Possible Resurgence of Controversial Insurance, Amancio Ortega: Chairman of Zara, Richest Person in Spain, The $100 Billion Man: How Bernard Arnault Stitched Together the Worlds Third Biggest Fortune, Bernard Arnault, Chairman and Chief Executive Officer, LVMH Surges as Shoppers Snapping Up Couture Lift Sales to Record, Bernard Arnault: Frances Wolf-in-Cashmere Billionaire, Bernard Arnault: I Always Liked Being Number One, Arnault Family to Take Full Control of Christian Dior in $13 Billion Deal, The Perfect Paradox of Star Brands: An Interview with Bernard Arnault of LVMH, 100 Great Business Leaders: Bernard Arnault, The World's Ten Most Powerful Luxury Brands2011 Edition, The Story of How Givenchy Ended up Under the Umbrella of LVMH, Louis Vuitton Rises, Gucci Slips in Brand-Valuation Study, Luxury Giant LVMH to Buy Tiffany for $16.2 Billion, Tiffany Deal Is a Signature Move by the Sun Tzu of Luxury, Vuitton Plans a Gehry-Designed Arts Center in Paris, LVMH Announces Launch of New Luxury Maison by Rihanna. In July 1988, Arnault acquired Cline. Analytical cookies are used to understand how visitors interact with the website. Katrina vila Munichiello is an experienced editor, writer, fact-checker, and proofreader with more than fourteen years of experience working with print and online publications. [12], After assuming leadership, Arnault led the company through an ambitious development plan, transforming it into one of the largest luxury groups in the world, alongside Swiss luxury giant Richemont and French-based Kering. Bernard Arnault, the chairman of French luxury goods giant LVMH, has just become the first European to top Bloomberg's list of the world's richest people, relegating Elon Musk to second place. [26] He subsequently took control of Royal van Lent for an almost identical amount. Investopedia does not include all offers available in the marketplace. His 2017 acquisition simplified the business structure and gave LVMHs minority shareholders full exposure to Dior. A leading art collector and patron of the arts, Arnaults private collection ranges from Monet to Yves Klein, Chris Burden, Takashi Murakami, Doug Aitken, Matthew Barney, and Richard Serra. Our Group has backed Airbnb, Lyft, Netflix, Slack, or Spotify and many others. As of April 21, 2022, Arnault had a net worth of $146 billion, which made him the third richest person in the world (after Elon Musk and Jeff Bezos), according to the Bloomberg Billionaires Index. [10], He worked with Alain Chevalier, CEO of Mot Hennessy, and Henry Racamier, president of Louis Vuitton, to form LVMH in 1987. Win whats next. Alexandre Arnault, LVMH's Digital Scion How the 25-year-old third child of the mastermind behind the $130 billion luxury goods empire joined the family business, became co-CEO of Rimowa and emerged as LVMH's secret digital weapon. LVMH chief Bernard Arnault holds more than two dozen Luxembourg-based entities with $1.6 billion in private investments as of December 2020. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Groupe Arnault is a principal investment firm owned and controlled by Arnault himself. In the decade after Arnaults takeover, as he built a portfolio of the most exclusive assets in luxury, the value of LVMH multiplied fifteen times over and sales and profit increased fivefold.. These cookies will be stored in your browser only with your consent. [70] His current 101.5m (333ft) yacht Symphony was built in the Netherlands by Feadship. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. As a result of these measures, brands under the LVMH umbrella such as Tiffany are still viewed as independent firms with their history. The highly effectivebut ruthlessmethods he used to turn around Boussac, which had collapsed in the largest bankruptcy in postwar French history, made Arnault known as "a force to reckon with in French business.". Investment Consultants Fund and Transaction Services Consulting and Corporate Advisory Services . Established in 1978, Groupe Arnault SAS, was the family office of billionaire Bernard Arnault that controls luxury goods group LVMH. [71] Arnault and his family have an estimated net worth of US$206.7 billion as of February 2023 according to Forbes,[72] making him the richest person in the world, surpassing Elon Musk. [4], Bernard Jean tienne Arnault was born on 5 March 1949 in Roubaix. 04. Taboola is an AI-powered content discovery platform that connects people with content on the web that suits their interests. Following the acquisition of a textile company and relocation of its headquarters, the company renamed the real estate branch to the George V Group. Total number of diversity investments made by an investor, Total number of employee profiles an organization has on Crunchbase, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. These cookies will be stored in your browser only with your consent. To his critics, he was the wolf in cashmere, who brought an Anglo-Saxon ruthlessness to the genteel world of 1980s French businessno more than a corporate raider dismantling centuries of tradition.. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. Over the next three decades, as he brought the best luxury brands in fashion, cosmetics, and beverages under the LVMH umbrella, Arnault proceeded to make a series of brilliant business decisions that can only be called masterful. Even his critics were impressed by his ability to manage creativity for the sake of profit and growth. Industry observers frequently credit his outstanding success in a highly competitive industry to the fact thatunlike other global CEOsArnault understands both the creative and the financial aspects of running a luxury business. In his first role out of university, Arnault displayed the boldness and business acumen that would later make him famousincluding persuading his father to sell off the construction business and ramp up investment in real estate. Equity investments - $220 billion (39.70% of Berkshire's current market cap) Bloomberg valued Arnault's fortune at $185 billion. Which industries has this organization most actively invested in? You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Other non-traditional Arnault hires included installing 27-year-old Alexander McQueen (another British designer) at Givenchy and Marc Jacobs at Louis Vuitton, where he gave the American designer a mandate to challenge LVMHs competitors, Prada and Gucci. Agla Ventures |Terms & legal information. Nathan Laine/Bloomberg The 2019 Financial Times article also cited "first-mover advantage" as a driver of Arnaults remarkable track record, notably in China, where (he) is given a head of states welcome when he visits. The first Louis Vuitton in mainland China opened in Beijing in the basement of the Palace Hotel in 1992, just as market-economy reforms were kicking offand there was no hot water in the hotel and bicycles instead of cars on the roads, according to Arnault. [44] In late October 2020, Tiffany and LVMH agreed to the original takeover plan, though at a slightly reduced price of nearly $16 billion, a minor reduction of 2.6% from the aforementioned deal. After selling off most of the other assets, he reinvested the cash into his next luxury targets: Mot Hennessy and Louis Vuitton, two iconic French companies that merged into LVMH in 1987. ", SmartWeek. 08/11/2022. Arnault has his hands in a lot of different things besides LVMH. When government officials said that he had promised to preserve jobs and assets, Arnault claimed that his only pledge was to make the company profitable. The high activity for fund was in 2015. The offers that appear in this table are from partnerships from which Investopedia receives compensation. These mass layoffs earned him the nickname Terminatorbut admirers congratulated him for leapfrogging from his family's $15 million-a-year business to a company 20 times as large. While commenting, you are under the rule of our websites terms of use and privacypolicy. Catterton, the leading consumer-focused private equity firm, LVMH, the world leader in high-quality products, and Groupe Arnault, the family holding company of Bernard Arnault, created L Catterton in 2016. Armada Investment Group Kusnacht, Switzerland Family Represented: Daniel S. Aegerter Investment Areas: Technology, Venture Capital Notable Investments: TRADEX (Merged with Ariba in 2000 and later sold to SAP in 2012) 19. This category only includes cookies that ensures basic functionalities and security features of the website. In the latest twist of a saga involving well-known French businessmen and their personal loyalties, Arnault's investment vehicle Groupe Arnault said Thursday it has reinforced is holdings. Bernard Arnault's wealth is around $203 billion. Does the Arnault family have a Single Family Office? In addition to meeting LVMHs high bar for exclusivity, Arnault said that he was attracted to an unusual aspect of the Tiffany profile: Its the only brand (he) know(s) that owns a color.. When the investment is from Groupe Arnault the average startup value is more than 1 billion dollars. Arnault has an estimated net worth of US$181.6 billion as of February 2023, according to Forbes, making him . To his critics, Arnault said that talent has no nationality., To protect the brand image of quality and exclusivity over quantity and accessibilityanother element that Arnault considered essential to the Dior cachethe worked with his new team to cut the number of Dior licensees and franchised boutiques by half: from 280 in 1989 to less than 150 by 1992.. Alexandre is the EVP of Tiffany & Co, Frdric is the CEO of TAG Heuer, and Jean is the Director of Marketing and Development at Louis Vuitton. This website uses cookies to improve your experience while you navigate through the website. But opting out of some of these cookies may have an effect on your browsing experience. 03. The history of LVHM: a series of acquisitions It all started in 1984, when a then 35-year-old Bernard Arnault noticed that the luxury company Christian Dior was for sale. Upon being noticed, Arnault upped his stake to 34.4 percent while insisting he wanted to be a supportive and unassertive stakeholder. Groupe Arnault is the family holding company of LVMH's CEO Bernard Arnault and the controlling shareholder in LVMH. The strongest performing brand in the portfolio remains Louis Vuitton and in watches TAG Heuer with a 4% market share in the luxury watch market. CNP makes long-term investments, alongside talented management teams, in leading European listed and non-listed companies. , brands under the rule of our websites terms of use and.., will happen between now and July 20 private investments as of 2023. 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