{"id":3386,"date":"2020-12-04T09:29:48","date_gmt":"2020-12-04T09:29:48","guid":{"rendered":"http:\/\/doerlife.com\/?p=3305"},"modified":"2020-12-04T10:21:01","modified_gmt":"2020-12-04T10:21:01","slug":"bernard-arnault-establishing-the-louis-vuitton-empire-of-79-luxury-brands","status":"publish","type":"post","link":"https:\/\/celebglory.com\/doerlife.com\/bernard-arnault-establishing-the-louis-vuitton-empire-of-79-luxury-brands\/","title":{"rendered":"Bernard Arnault – Establishing the Louis Vuitton Empire of 79 luxury brands"},"content":{"rendered":"\n

French businessman Bernard Arnault the well-known chairman and CEO of the Parisian conglomerate LVMH Mo\u00ebt Hennessy Louis Vuitton SA, oversees 79 luxury products including Louis Vuitton, Christian Dior, and Sephora. Called the \u2018Pope of Fashion\u2019, and \u2018The Wolf in the Cashmere Coat\u2019, Bernard Arnault is known for establishing the empire of Louis Vuitton and luxury brands. Bernard Arnault, the world\u2019s 2nd<\/sup> richest person in 2019, lost USD 30 billion owing to the COVID19 pandemic. Today despite the demand for luxury goods has come crashing down, Arnault remains among the top 5 rich and famous persons in the world with a net worth of USD 86.4 billion<\/a>, and 4590 shops in 68 countries.<\/p>\n\n\n\n

Starting in the Family Business<\/strong><\/h4>\n\n\n\n

Bernard Arnault born on March 5, 1949, belonged to an industrial family of Roubaix, France. He attended the Roubaix lyc\u00e9e and the Faidherbe lyc\u00e9e in Lille and later studied Engineering at the prestigious Ecole Polytechnique. In 1971, upon getting the engineering degree he joined Ferret-Savinel, his father\u2019s construction company. Here he learned the nuances of the business and took up challenging responsibilities to rise in various executive management positions of the firm. From 1978 to 1984, Bernard Arnault served as the President of Ferret-Savinel. In 1978, when he took over as President, he changed the company name from Ferret-Savinel to F\u00e9rinel Inc. and also included real estate which he envisioned would be a lucrative business in the 80s.<\/p>\n\n\n\n

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Image credits: Forbes India<\/figcaption><\/figure>\n\n\n\n

Bernard Arnault, the opportunist and sharp businessman<\/strong><\/h4>\n\n\n\n

Bernard Arnault having learned the ropes of the business from his father, had become a sharp businessman himself seeking new opportunities. He entered the luxury goods business in 1985 by putting up USD 15 million from his real estate business to buy the fashion house Christian Dior with co-investor Antoine Bernheim, managing partner of the French bank Lazard Fr\u00e8res and Co. Together the two investors raised the USD 80 million and bought the bankrupt textile company Boussac Saint-Fr\u00e8res, that owned the brand Christian Dior. \u00a0<\/p>\n\n\n\n

In 1984, Antoine Bernheim, a senior partner of Lazard Fr\u00e8res, helped Arnault to acquire Financi\u00e8re Agache, another luxury goods company where Arnault later became the CEO.<\/p>\n\n\n\n

In 1987, Henri Racamier, Chairman LVMH Mo\u00ebt Hennessy Louis Vuitton invited Arnault to invest in the company through a joint venture with Guinness PLC. Arnault invested USD 1.5 billion in 1988. He invested another USD 1,100 million which got him a stake of 43.5% in LVMH shares and 35% in voting rights. On January 13, 1989, he was elected chairman of the executive management board. \u00a0Since then, Bernard Arnault has led the company through an ambitious development plan, transforming the name LVMH and especially Louis Vuitton into a global luxury brand.<\/p>\n\n\n\n

LVMH acquired many luxury goods companies. Some of the well-known names include fashion companies Dior, Christian Lacroix, Givenchy, and Kenzo; leather goods companies Loewe, C\u00e9line, and Berluti; jeweler Fred Joailler; duty-free chain DFS group; Champagne Dom Perignon, watches TAG Heuer, and beauty retailer Sephora. Today the LVMH empire houses 79 brands. <\/a><\/p>\n\n\n\n

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President Donald Trump at the opening of LVMH factory in Texas. Image credits: Yahoo News<\/figcaption><\/figure>\n\n\n\n

The growing curve<\/strong><\/h4>\n\n\n\n

Bernard Arnault acquired more companies\/brands over the next few years. Some of his acquisitions include,<\/p>\n\n\n\n