World’s biggest luxury goods company LVMH’s CEO Bernard Arnault (left) and his son Antoine visit the world leader for the production of Cognac Hennessy’s new bottling plant in Salles-d’Angles, in October 2017. Photo: AFP
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https://scmp.com/magazines/style/luxury/article/3202967/will-bernard-arnaults-son-antoine-succeed-his-dad-lvmh-billionaire-heir-replaces-christian-dior-se Luxury
Will Bernard Arnault’s son Antoine succeed his dad at LVMH? The billionaire heir replaces Christian Dior SE CEO Sidney Toledano and helmed a recent ad with Cristiano Ronaldo and Lionel Messi
- LVMH billionaire Bernard Arnault, who’s challenging Elon Musk for the world’s richest man title, has elevated his eldest son Antoine to CEO and vice-chairman of Christian Dior SE
- Arnault has four other kids – Delphine, Alexandre, Frédéric and Jean – who also have roles at the company that runs Louis Vuitton, Dom Perignon, Tag Heuer, Tiffany & Co., Celine and Loewe
LVMH’s CEO Bernard Arnault (left) just elevated his son Antoine to a bigger role, prompting discussion about succession plans. Photo: AFP
Billionaire Bernard Arnault elevated his eldest son, Antoine, to a broader role within the world’s largest luxury conglomerate in a move that will spark fresh speculation about succession at LVMH.
Antoine Arnault, 45, is replacing Sidney Toledano, 71, as chief executive officer and vice-chairman of Christian Dior SE, the holding company through which the family controls LVMH.
Here’s what you need to know …
Europe’s most valuable company
A chocolate factory, ephemeral restaurants, cafes and even, perhaps, a hotel: the world’s leading luxury brand Louis Vuitton, which wants to be “more than a fashion brand, a culture brand”, is accelerating its diversification to better “extend its territory”. Photo: AFP
The move gives Antoine an increasingly prominent role within Europe’s most valuable company, with a market capitalisation of US$384 billion (364 billion euros) and a sprawling portfolio of high-end brands ranging from Louis Vuitton to Dom Perignon Champagne.
Antoine Arnault, CEO of Berluti, attends the autumn/winter 2019-2020 collection show for fashion house Berluti during Men’s Fashion Week in Paris, France, in January 2019. Photo: Reuters
It’ll also revive one of the favourite parlour games in Paris – talk of which of Bernard’s five children will succeed the 73-year-old LVMH chief once he hands over the reins of the empire he began building more than three decades ago.
“The appointment of Antoine Arnault exemplifies a planned transition in a spirit of fair process around the succession of Bernard Arnault,” said Philippe Pelé-Clamour, an expert on the governance of family firms at business school HEC Paris.
Bernard Arnault isn’t going anywhere any time soon
French luxury group LVMH chairman and chief executive Bernard Arnault as he attends an LVMH event at the Vivatech technology start-ups and innovation fair in Paris, on June 16. Photo: AFP
There’s no indication that he’s going anywhere any time soon. LVMH recently lifted the age limit of its chief executive officer, allowing the family patriarch to stay at the helm until he’s 80.
Head of French multinational corporation LVMH Bernard Arnault (centre) and his wife Helene (second from right), surrounded by their children (from left) Frederic, Delphine, Antoine and Alexandre pose during attend a ceremony marking Paris’ iconic department store La Samaritaine reopening after 16 years of closure in Paris, in June 2021. Photo: AFP
Still, the appointment shows how Bernard has been moving to cement family control once he’s no longer in charge. All five of the younger generation, including Antoine, work at LVMH or one of its brands.
It’s a family business
Head of LVMH luxury group, Bernard Arnault (centre), his daughter Louis Vuitton executive vice-president Delphine Arnault (left) and his son LVMH communications head Antoine Arnault (right) arrive to open the exhibition of The Morozov Collection, Icons of Modern Art at Fondation Louis Vuitton in Paris, in September 2021. Photo: AFP
Daughter Delphine, Bernard’s eldest child from his first marriage to Anne Dewavrin, is a senior executive who oversees products at Louis Vuitton, the group’s biggest brand.
Alexandre Arnault with father Bernard, mother Hélène Mercier and brother Frédéric. Photo: @alexandrearnault/Instagram
The younger sons from Bernard’s second marriage to Helene Mercier, a Canadian concert pianist, are also involved. Alexandre has been in charge of products and communications at Tiffany & Co. for almost two years. Frédéric runs Swiss watchmaker Tag Heuer while Jean is working to develop the watch category at Louis Vuitton.
Bernard is challenging Elon Musk for the title of world’s richest person
A Louis Vuitton store at the Somerset Collection Mall on Black Friday in Troy, Michigan, US, on November 22. Photo: Bloomberg
The company has been steaming ahead, posting big sales gains as wealthy consumers remain unaffected by the global cost-of-living crisis. Bernard is currently challenging Elon Musk for the title of world’s richest person, according to the Bloomberg Billionaires Index.
Bernard Arnault, chairman of LVMH Moët Hennessy Louis Vuitton, attends the LVMH Innovation Award ceremony at the Viva Technology conference dedicated to innovation and start-ups at the Porte de Versailles exhibition centre in Paris, France, on June 16. Photo: Reuters
Antoine is keeping his other responsibilities within the group, notably running image and communications for LVMH Moët Hennessy Louis Vuitton SE and managing shoemaker Berluti. He’s also non-executive chairman of Loro Piana. Pietro Beccari is keeping his CEO role of Christian Dior Couture.
Toledano is keeping his role as CEO of LVMH’s fashion business, overseeing brands such as Celine and Loewe.
Antoine was recently behind an ad campaign for Louis Vuitton
Antoine Arnault is getting more and more involved in LVMH operations. Photo: @antoinearnault/Instagram
Antoine was born in Roubaix in 1977. He graduated from HEC Montreal and holds an MBA from business school INSEAD. He was recently behind an ad campaign for Louis Vuitton that featured Cristiano Ronaldo and Lionel Messi facing off in a chess game photographed by Annie Leibovitz.
Antoine Arnault is the son of LVMH’s Bernard Arnault. Photo: @natasupernova/Instagram
The Arnault family own about 48 per cent of the shares of LVMH, with 64 per cent of the voting rights, according to its annual report. Most of that shareholding is via Christian Dior SE.