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LVMH: Too Early To Discuss Succession?
LVMH founder, Bernard Arnault, is looking to appoint sons (Antoine and Frédéric) as board members.
Elvis Kachi
January 30, 2024
Alexandre and Frédéric Arnault are seen by some to be their father Bernard’s preferred heirs - Rindoff Petroff/Pierre Suu/Getty Images
“Succession is not a topic we think about today. We all have immense respect, admiration and love for our father. It’s his will and it’s also our will that he stays in charge as long as possible.”
We all love a good succession story. We have seen it play out in real time and on screens. Dynasty’s Fallon Carrington played by Elizabeth Gillies took over her father’s Carrington Atlantic at some point, while Blair Waldorf (played by Leighton Marissa Meester) of Gossip Girl briefly took over her mother’s fashion label.
With Bernard Arnault, we’re seeing this play out in real time. Right now, all his five children have stakes at the LVMH French conglomerate.
Delphine Arnault, 47, is the current chairman and CEO of Christian Dior Couture. Antoine Arnault, 46, is the current CEO of family holding company, Christian Dior SE. Alexandre Arnault, 31, is executive VP at Tiffany & Co; Frédéric Arnault, 28, serves as CEO of Tag Heuer; while Jean, 25, is the director of watches development and marketing at Louis Vuitton.
Bernard Arnault, chairman and CEO of French luxury group LVMH. ERIC PIERMONT/AFP/Getty Images
Recent reports show that the LVMH founder has nominated both Alexandre and Frédéric to be board members at LVMH. If this is pushes forward in April, they’ll be joining Delphine and Antoine, making a total of four children as part of the LVMH board—a board where they currently own about 48% shares and 64% of voting rights.
What is Arnault not telling us and why is this relevant?
In the high-stakes world of luxury fashion, only a few names resonate as powerfully as Bernard Arnault’s. As the current overseer of LVMH's ascension to industry dominance, the looming question of succession for the 73-year-old juggernaut has raised multiple eyebrows over the future of the luxury empire.