BY AGENCY REPORTER
ARNAULT was born in France into the world of business and began his lucrative luxury career in 1971, working for the family real estate company Ferret-Savinel.
He was promoted to chairman in 1978, and remained in that role until 1984 when he was tasked with restructuring the Financière Agache holding company.
Within this role, the father-of-five strategised on developing leading luxury brands, acquiring Christian Dior as the spearhead of the new business.
LVMH was formed in 1987 under the merger of Louis Vuitton and champagne producer Moët Hennessy.
In 1989 Arnault became the majority shareholder of Moët Hennessy Louis Vuitton, a role he has held ever since.
His prestigious portfolio includes fashion labels such as Givenchy, Marc Jacobs and FENTY, luxury wines and spirits and champagne and wine brands, and perfumes and cosmetics.
LVHM owns 70+ brands and spent $3.2billion in 2019 on luxury hospitality group Belmond and acquired Tiffany & Co. for $15.8billion in January.
The company website says the LVHM model is ‘based on a long-term vision’ which ‘stimulates creativity and excellence.’
The company has around 163,000 employees and reported more than $58billion-worth of revenue in 2019.
The billionaire is married to pianist Hélène Mercier, who he shares children Alexandre, 29, and Frédéric, 26, and Jean, 23, with.
He was previously wed to Anne Dewavrin, 71, until 1990, and the pair share two children – Antoine, 43, and Delphine, 46.
– DAILY MAIL
