Bernard Arnault, the French luxury goods billionaire, has divested his stake in Carrefour, just as the giant retail chain is yielding results. Arnault first invested in Carrefour with US private equity firm Colony Capital LLC, according to Edge Markets, which saw France’s wealthiest person secure a seat on the board and pushed for the retailer’s...
Sep 1, 2021
Bernard Arnault was briefly the wealthiest person in the world on Monday. In the hours before the New York Stock Exchange opened the president and CEO of French luxury giant LVMH surpassed Amazon founder Jeff Bezos in Forbes’ latest ranking. His fortune was valued at 186.3 billion dollars (about 152 billion euros), 300 million above Bezos (186...
May 25, 2021
LVMH has announced the appointment of Frédéric Arnault as Tag Heuer’s CEO, effective from July 1. 25-year-old Arnault, son of LVMH chairman and chief executive officer Bernard Arnault, joined Tag Heuer in 2017 to manage its smartwatch activities. Previously piloting the design phase of the latest Connected watch, he will now, as head of the...
Jun 5, 2020
LVMH chairman Bernard Arnault is to buy a stake in the holding company of French billionaire Arnaud Lagardere, the owner of his eponymous and indebted publishing house, Lagardere. It will amount to around 25 percent of the share capital, according to a joint press release from Lagardere Capital & Management and Groupe Arnault. It comes as the...
May 25, 2020
LVMH's recent Louis Vuitton factory opening in Texas was supposed to be a celebration of the glory of manufacturing and the jobs that the company would be bringing to the United States, however it was a celebration that didn't take too long to ruin thanks to its association with Donald Trump. As support for impeaching Trump increases and...
Oct 21, 2019
President Donald Trump attended the opening of a new production site in Texas for the posh handbag maker Louis Vuitton on Thursday, drawing the French luxury powerhouse into the US leader's job-creation pitch as he gears up for next year's re-election campaign. The event presented a rare chance for a meeting between Trump and a foreign business...
Oct 18, 2019
President Donald Trump will attend Thursday the opening of a new production site in Texas for the posh handbag maker Louis Vuitton, drawing the French luxury powerhouse into the US leader's job-creation pitch as he gears up for next year's re-election campaign. Bernard Arnault, head of the LVMH conglomerate that owns the leathergoods brand, will...
Oct 17, 2019
British designer Stella McCartney pleaded for fashion to "wake up" and help save the planet Monday after her first Paris show as part of the industry's biggest luxury conglomerate. "The world is crying out for change and it is our responsibility to act now," said the creator, whose label is a pioneer of ethical fashion. "We aren't perfect... and...
Sep 30, 2019
Vivienne Westwood designer Andreas Kronthaler hit out Saturday at fashion's most powerful man Bernard Arnault for attacking Greta Thunberg. The French billionaire and head of the LVMH conglomerate that owns labels like Louis Vuitton, Dior, Givenchy, and pop idol Rihanna's new brand Fenty, said the teenage climate activist was "surrendering to...
LVMH has pledged 10 million euros (9.1 million pounds) to help efforts to fight ongoing wildfires in the Amazon, but donations have since been rejected by the Brazilian government. LVMH’s announcement was made in a joint statement on the French luxury brand’s website by chairman and CEO Bernard Arnault (pictured) and member of the LVMH board of...
Aug 27, 2019
Retail tycoons and owners of fashion conglomerates are regularly featured in global rich lists, but for the first time LVMH Chairman Bernard Arnault is amongst the top three wealthiest individuals. Arnault is new to the club of centibillionaires, alongside Jeff Bezos, the founder of Amazon, who comes in first place, and Microsoft’s Bill Gates at...
Jul 18, 2019
Bernard Arnault, chairman of French luxury conglomerate LVMH, is the world’s latest centibillionaire, according to Bloomberg. Arnault’s fortune reached 100 billion US dollars last week, when LVMH climbed 2.9 percent to 368.80 euros (approximately 420 dollars) a share. His net worth increased 32 billion US dollars this year, more than any other...
Jun 25, 2019
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