Bernard Arnault chairman of luxury conglomerate LVMH for decades, will have to make possibly one of the most difficult decisions of his life.
Richest in the world after ousting Elon Musk from the top in December 2022, the Frenchman has an estimated fortune of US$ 184.7 billion and the responsibility of running a luxury conglomerate that includes the fashion brands Louis Vuitton and Christian Dior, the wine and sparkling wine producer Moët & Chandon and watch company TAG Heuer.
About to turn 73, Bernard has a challenge ahead of him: choosing who of the five children will take over the conglomerate after his retirement, according to Fortune.
Does the story sound familiar? The dispute for power and fortune between the sons of Arnault resembles one of the greatest series of the moment: “Succession”, on HBO.
See who are the five children of the richest man on the planet and possible candidates for the leadership position of LVMH:
Arnault’s eldest daughter, the French businesswoman is 47 years old and is vice-president of Louis Vuitton.
She began her career at McKinsey in Paris, where she worked as a consultant for two years. She gained experience in the fashion industry while working for stylist John Galliano in 2000, helping with the development of the brand.
Between 2001 and 2013, she started working in Christian Dior’s footwear department and rose to the position of deputy director of the executive committee.
During that time, she led one of the brand’s most successful periods, driving the growth of leather goods, accessories and communications strategies.
Currently, Delphine is Executive Vice President of Louis Vuitton and responsible for overseeing activities related to the brand’s products.
Now 45, Bernard Arnault’s second-eldest son rose through the ranks at age 25, when he founded an internet startup and joined the marketing team at LVMH.
Years later, Antoine was named director of communications for Louis Vuitton. In that capacity, he launched the “Core Values” campaign, which featured global icons such as Muhammad Ali, Angelina Jolie and Bono.
Today, Antoine is the head of communication and image at LVMH, being in charge of managing the public image of the conglomerate. He is also chairman of retailer Loro Piana and chief executive of menswear maker Berluti.
At 30, Alexandre Arnault is an innovation and technology expert, and currently serves as Executive Vice President of Products and Communications at Tiffany & Co.
Among his main professional experiences, Bernard’s third son took over from his father in 2019 on the board of directors of Carrefour, a French supermarket chain.
Alexandre has also accumulated the leadership role of luxury luggage maker Rimowa, after LVMH acquired an 80% stake in the company.
Bernard’s second youngest son, 27, is the chief executive of TAG Heuer, a luxury watch brand.
Before taking over the company, Frédéric ran an online payment startup with a friend, which they later sold to European bank BNP.
At the age of 25 he was named CEO of TAG Heuer, promoting several changes in the company. His main management focus is e-commerce, which grew 329% in 2020.
In 2021, the company reported revenue of $7.1 billion in its watches and jewelry sector in the third quarter.
The youngest son, aged 24, is currently marketing and development director for Louis Vuitton watches.
Jean’s interest in watches was influenced by Fréderic, CEO of TAG Heuer, after his brother showed him how the company works.
In an interview with the Financial Times, Jean Arnault said he sees enormous potential in mechanical watches, noting that the more society connects with digital devices, they also want something purely mechanical, simple.
Source: CNN Brasil
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