Son of LVMH’s Arnault in luxury big league with Tiffany appointment after roles at Fendi, Rimowa – and he’s announced he is engaged

Alexandre Arnault, 28, moves to leading jewellery brand from the much smaller suitcase maker Rimowa, and will be in charge of products and communication

His appointment to the executive vice-president role makes Alexandre a more serious contender to succeed his father Bernard, 71, as head of LVMH

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Alexandre Arnault with singer Pharrell Williams at a Rimowa pop-up store opening. The 28-year-old’s move from managing the luggage maker to a senior role with LVMH acquisition Tiffany & Co vaults the third child of the conglomerate’s founder, Bernard Arnault, into luxury’s big league. Photo: Sansho Scott/BFA.com

Published: 12:15pm, 11 Jan 2021Updated: 12:15pm, 11 Jan 2021

A chance to help run the iconic American jeweller Tiffany & Co. has catapulted Alexandre Arnault into the luxury world’s top echelons.

The 28-year-old son of French billionaire Bernard Arnault was thrust into the limelight on Thursday with a key role at Tiffany, after LVMH completed its US$16 billion on-again-off-again takeover – the luxury industry’s biggest. Alexandre was named executive vice-president for products and communication, and will help new chief executive officer Anthony Ledru oversee the company.

For the third of LVMH founder Arnault’s five children, the move marks a leap from managing a small suitcase maker for the group to work at one of the world’s best-known jewellery brands with pre-pandemic annual revenue of about US$4.4 billion. It also makes him a more serious contender to some day run the luxury empire built by his 71-year-old father.

“Bernard Arnault is building a fair process between the Arnault siblings by testing them,” said Philippe Pele-Clamour, adjunct professor at business school HEC Paris. “That will allow them to understand if they can lead such a group.”

The first son of Arnault’s second wife, Alexandre is in the line of succession to one of the world’s biggest fortunes. His father has a net worth of about US$114 billion through his holdings in luxury group LVMH and supermarket giant Carrefour, making him Europe’s richest and the world’s fourth-wealthiest person, according to the Bloomberg Billionaires Index.

Alexandre’s ascent provides fresh fodder for the chattering classes in France, which closely track the family for signs of who Arnault’s anointed successor might be. Although it may be a long while before Arnault – who remains hands on in the business – is ready to retire, the guessing game continues. Four of the five Arnault children are currently involved in the company, Europe’s second-largest by market value after Nestlé.