Bernard Arnault news and archive

Bernard Arnault's L Catterton snaps up stake in Polène

The leather goods brand Polène is no longer part of the portfolio of Otium Capital, the investment company of Pierre-Édouard Stérin, the far-right billionaire. Following this withdrawal, and according to the media L'Informé, L Catterton, a private-equity firm backed by LVMH, has acquired a minority stake in Polène. On July 11, the French media...

Business

LVMH and SpaceX: Could Arnault and Musk seek a collaboration?

An unexpected relationship is said to have developed between two titans of global industry: Elon Musk and Bernard Arnault. In an interview with CNBC ahead of the opening ceremonies of the Paris Olympic Games, Bernard Arnault, chairman of luxury conglomerate LVMH, recounted the key points he discussed during his exchange with Elon Musk, CEO of...

Report

LVMH CEO confirms personal stake in luxury group Richemont

Bernard Arnault, LVMH's CEO, has confirmed reports of a small personal stake in Richemont, the Swiss luxury goods company and parent of Cartier and Alaïa. Mr Arnault in an interview with US news outlet CNBC emphasised his stake is unrelated to LVMH's corporate strategy. This move comes amid challenging financial results for LVMH, with a 1...

Business

Richemont: luxury group in sights of LVMH's Arnault?

The Swiss luxury group Richemont, which owns Cartier and other jewellery brands, is regularly the subject of takeover rumours which its founder, the South African billionaire Johann Rupert, always dismisses. But Bernard Arnault, chief executive of rival LVMH, the number one in the field, is building up a stake in Richemont -- a move which so far...

Report

Bernard Arnault, LVMH chief, buys shares in Richemont

LVMH chairman and CEO Bernard Arnault has reportedly bought shares in Cartier parent Richemont, the rival luxury group based in Switzerland. Widely seen as a personal investment, Mr Arnault is thought to own a small shareholding and would not directly influence LVMH's corporate strategy or lead to immediate synergies between LVMH and Richemont....

BusinessFeatured

LVMH Innovation Award 2024: Bernard Arnault prioritises AI with FancyTech

On 23 May, at the VivaTech trade fair, the LVMH group awarded seven trophies to start-ups nominated for innovation prizes in various categories. Morgan Mao, founder of FancyTech, a Chinese company, received the grand prize from CEO Bernard Arnault himself. "Make your dream a reality" was the motto of the ceremony, which was held to a full house...

People

Macron decorates world's richest man Arnault as Beyonce, Musk look on

Paris - France's President Emmanuel Macron decorated the world's richest man Bernard Arnault at a star-studded ceremony that included pop queen Beyonce and tech billionaire Elon Musk, the presidency and a news report said Thursday. Macron awarded Arnault the country's highest honour, the Grand Cross of the Legion d'Honneur, at the event on...

PeopleFeatured

Bernard Arnault secures LVMH Group control for next 30 years

French billionaire Bernard Arnault has solidified his control over the LVMH Group for the next three decades. The transition, originally set to occur upon his passing, has now been triggered by his youngest child, Jean Arnault, turning 25, reported Italy’s ll Sole 24 Ore newspaper. Instead of control shifting to a Belgian foundation, it will...

People

French billionaire investigated in money laundering probe

Paris - French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort, according to Paris prosecutors. The probe concerns their activities in Courchevel, a ski resort in the French Alps known for being a playground for the ultra-rich, they said late...

Business

French luxury brand tycoon Bernard Arnault in China

Beijing - French billionaire and luxury brand magnate Bernard Arnault is in China this week, social media posts showed, the latest visit by a foreign executive keen to reconnect to the world's second-largest economy. The world's second-richest man after Elon Musk and chairman of LVMH group, Arnault was seen in Beijing visiting the upscale SKP...

Business

Why LVMH chief Bernard Arnault met with China's commerce minister

The photographs circulating the world’s media feature a smiling luxury magnate shaking hands with a Chinese politician. LVMH chief executive Bernard Arnault met with China’s minister of commerce, Wang Wentao, at the Dior flagship in Paris on Friday. Other senior management at LVMH, including Delphine Arnault, chairman and CEO of Christian Dior...

Business

Will Michael Burke to become CEO of LVMH Fashion Group?

Succession planning at the world’s largest luxury group has been underway for years, but owner Bernard Arnault has taken sensible steps to ensure continuity, profitability and longevity at LVMH. The 74-year-old business titan recently appointed his eldest daughter to oversee Christian Dior while his son Antoine is heading Agache, LVMH’s holding...