Luxury brands such as Louis Vuitton and Moet turned him into one of the world’s richest men. But with five children, he has a hard decision to make.
\]One afternoon in July, not long after being named the wealthiest man on the planet by Forbes, Bernard Arnault, the head of the LVMH Moët Hennessy Louis Vuitton luxury goods empire, took his place on a stage before a crowd of French dignitaries and reporters.
It was a moment of public triumph for Arnault, a sign of how embedded in the fabric of France LVMH has become. Over more than 30 years, he has forged LVMH into the world’s largest luxury group and the most valuable company in France, with a presence in 81 countries. His brands — 75 of them — are the stars of the luxury world, including Louis Vuitton, Christian Dior, Tiffany and Dom Pérignon Champagne.
“It’s not an obligation, nor inevitable, that a kid is my successor,” he said. “The best person inside the family or outside the family should be one day my successor. But it’s not something that I hope is a duel for the near future.” Ian Rogers, a former chief digital officer at LVMH, said Alexandre had told him, “My business education started when I was 9, at the breakfast table.”
The question now is who can keep desirability at the heart of LVMH in an age of protests and global economic uncertainty.
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