Mr. Bernard Arnault was born on March 5, 1949, into an industrial family in Roubaix, France. He attended the Roubaix lycée as well as the Faidherbe lycée in Lille. He continued his studies at the Ecole polytechnique after that.
That year, he started working for the Ferret-Savinel construction business as an engineer. He was subsequently advanced to executive management roles, and in 1978, he was made chairman.
Up until 1984, when he started the Financière Agache holding company’s reorganization, Mr. Arnault stayed there. He started a plan to become the most successful luxury goods company in the world while also bringing the corporation back to profitability. In the process, he gave Christian Dior fresh life as the foundation of the fledgling company.
When Mr. Arnault acquired a majority stake in LVMH Moët Hennessy – Louis Vuitton in 1989, the world’s preeminent luxury goods conglomerate was formed. Since then, Mr. Arnault has served as the company’s chairman and CEO.
In addition, Mr. Arnault serves as President of the Board of Directors of Groupe Arnault S.E., the holding company for his family.
After being married, Mr. Arnault had five kids.
He has been awarded the honorary titles of Grand Officier of la Légion d’Honneur and Commandeur des Arts et des Lettres.
Bernard Arnault Biography
| NAME | BERNARD JEAN ETIENNE ARNAULT |
|---|---|
| Born | 5 March 1949 |
| Birthplace | Roubaix, France |
| Age | 73 |
| Nationality | French |
| Education | Ecole Polytechnique, Palaiseau |
| Profession | Businessman; Media proprietor; Art Collector |
| Position | Chairman & CEO at LVMH; Chairman of Christian Dior SE |
| Net worth | $180.6 billion (Forbes 2022) |
| Father | Jean Leon Arnault |
| Mother | Marie-Josephe Savinel |
| Spouse | Anne Dewavrin (1973-1990); Helene Mercier (since 1991) |
| Children | 5- Frédéric Arnault, Alexandre Arnault, Antoine Arnault, Delphine Arnault, Jean Arnault |
Net Worth
| Estimated Net Worth | 188 Billion US Doller |
| Income Source | 94.7% Christian Dior Share Holding LVMH |
Bernard Arnault – Personal Life
Bernard was born in France, in Roubaix. Jean Leon Arnault, his father, was a manufacturer. Marie-Joseph Savinel, his mother, was fascinated with the Dior line. In 1973, he wed Annie Dewavrin, and the two of them had two kids, Antoine and Delphine. He wed Canadian concert pianist Helene Mercier following his divorce. The family currently resides in Paris, France, and they had three children.
Bernard Arnault Childhood & Early Life
The son of Jean Leon Arnault, he was born on March 5, 1949, as Bernard Jean Etienne Arnault in Roubaix, France. His father was a manufacturer and the owner of Ferret-Savinel, a civil engineering firm.
He attended Maxence Van Der Meersch High School in Roubaix. Following his education, he enrolled at the prestigious Ecole Polythenique, where he earned an engineering degree in 1971.
Bernard Arnault – Education
Bernard studied at Lycee Maxence Van Der Meersch in Roubaix. He was later enrolled in Lycee Faidherbe in Lille. He completed his graduation from the leading school of France Ecole Polytechnique in 1971.
Bernard Arnault – Professional Life
After he finished his education, Bernard began his professional career. He began working with Ferret Savinel, his father’s business, in 1973. From 1978 till 1984, he presided over the business as its president. From 2010 to 2013, he served on the Malaysian 1MDB fund’s Board of Advisors.
He bought a number of businesses, such as Guerlain, Loewe, Kenzo, Berluti, and Celine. He also bought Les Echos and La Tribune, two French economic publications.
He is a fantastic Investor as well. Major corporations like Zebank, Boo.com, Libertysurf, Netflix, Colony Capital, Carrefour, Princess Yachts, and Royal van Lent were among the businesses he had invested in. He and his family promised to donate €200 million as philanthropists to help rebuild Notre Dame Cathedral following a fire. He and his son completed a €100 million donation in 2019.
Bernard Arnault Career
- Bernard became involved in his father’s business after graduating from college, and he planned for the company to expand its horizons and become involved in other more profitable businesses.
- His first action within the company was to convince his father to disband the construction division and reap the benefits. After the construction was dissolved, the family began investing in real estate and became quite successful in doing so.
- Bernard was quickly moving up the ranks in the company and was the director of development in the year 1974, CEO in 1977, and surpassed his father by becoming president in 1979.
- In the year 1981, the French Socialists forced the family to relocate to America, and even there, they continued to flourish by branch out their real estate to the US.
- Arnault returned to France in the year 1983 and saw a golden opportunity to expand into the textile industry when the firm Boussac Saint-Freres was bankrupt. He co-operated with Antonie Bernheim, a managing partner who worked for an investment firm called Lazard Freres to fund his purchase of Boussac.
- After acquiring the business, Arnault sold the majority of the stock, retaining only the Christian Dior name and the Le Bon Marche department store. He was Dior’s CEO by 1985.
- When Arnault received an invitation to invest in the LVMH company in 1987, he ultimately decided to purchase a joint share with the Guinness PLC.
- He would keep making investments and gaining additional ownership in the business throughout the ensuing years. By 1989, he held 43.5% of the company’s shares, and he started replacing the old, mediocre personnel with new hires who would go above and above his standards right away.
- He continued to buy a few additional businesses, such as “Marc Jacobs,” “Sephora,” and “Guerlain,” among a few others, as part of his aim to work and create new enterprises.
- Bernard Arnault has a $70 billion net worth as of 2020.
LVMH creation
Wealth History
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In 1987, LVMH chairman Henri Racamier pushed Arnault to become a shareholder. Two storied French businesses, Louis Vuitton, which made leather goods, and Mot Hennessy, which made cognac and champagne, came together to form LVMH. Arnault became LVMH’s largest owner after investing in a joint venture with Guinness PLC. In 1990, he took Racamier’s place as LVMH’s chairman and CEO. Then he started to build his luxury empire by buying up dozens of brands, such as Bulgari (an Italian jewelry brand), Tiffany & Co., Sephora (a beauty retailer), Fendi (an Italian fashion house), Givenchy, Kenzo, Loewe, Céline, Berluti, Fred Joailler, and DFS Group (the largest duty-free chain in the world).
Bernard Arnault Philanthropic Works
Bernard Arnault’s company LMVH is engaged in a number of philanthropic activities. It supports humanitarian, medical research and scientific organizations, such as Save the Children, the Foundation for Hospitals in Paris, and the Princess Grace of Monaco Foundation.
Bernard Arnault – Chairman of Christian Dior
Lazard Freres assisted Bernard in 1984 when he bought a luxury products company. Following the acquisition, he was appointed CEO of Financiere Agache.
He gradually came to be in charge of Boussac Saint-Freres, the textile company that was the owner of Peaudoce, Le Bon Marche, Conforama, and Christian Dior. He retained only the Christian Dior brand and the Le Bon Marche department store, selling off all other corporate assets.
In 2022, the Dior brand was valued approximately at $8.9 billion whereas, the brand’s valuation was roughly $4.6 billion in 2017.
Bernard Arnault – Chairman & CEO of LVMH
| COMPANY NAME | MOËT HENNESSY LOUIS VUITTON (LVMH GROUP) |
|---|---|
| Founders | Bernard Arnault, Alain Chevalier, and Henry Racamier |
| Founded in | June 3, 1987 |
| Headquarters | Paris, France |
| Industry | Luxury goods |
| Valuation | $371.47 Bn (2022) |
Bernard invested $1.5 billion to create a holding company that held a 24% stake in LVMH alongside Guinness. Once more, he contributed $600 million to purchase an additional 13.5% of LVMH, making him the company’s greatest stakeholder. He eventually obtained 35% of the voting rights and 43.5% of the company’s shares. According to a document submitted to the French market regulator, the Arnault family possesses 47.99% of LVMH and 63.5% of the voting rights within the organization.
On January 13, 1989, LVMH’s chairman was chosen unanimously. He has made a major impact on it, making it one of the biggest luxury groups globally. Sales and profits at the company increased during his direction by a factor of five and fifteen times LVMH’s market value.
The corporation employed more than 175,000 people from 179 different countries in 2021, and its sales was $68.54 billion. It oversees 75 esteemed brands and boasts a global retail network including more than 5,500 outlets.
In comparison to the same period in 2021, LVMH’s revenue increased by 28% to $60.33 billion in the first nine months of 2022. As per Forbes, it had $75.9 billion in revenue in 2022. There was a 20% gain in organic revenue.
Bernard Arnault – Art Collector
When Bernard was a young fashion designer, he enjoyed collecting artwork. Picasso, Yves Klien, Henry Moore, and Andy Warhol are among the artists in his collection. His passion for collecting art elevated LVMH to prominence as a French art patron. He established a global competition that is available to students attending fine arts colleges. Each year, the winner receives a grant and a year of mentorship to help with the development of the designer’s label.
From 1998 to 2003, he was the owner of Philips de Pury & Company, an auction house. In addition, he purchased Tajan, the first French auctioneer. He unveiled a project in 2006 that was devoted to the production of modern art. The Louis Vuitton Foundation was the project’s name, and the building opened for business on October 20, 2014.
Brand Collaboration & Innovation
Cross-brand collaborations and sharing of expertise among acquired companies can foster innovation and unique product offerings, enhancing the appeal of LVMH’s luxury brands.
LVMH Growth And Expansion (1989 – 2001)
After becoming Chairman, Arnault led the company to become the biggest luxury brand group in the world as it is now. In 1988, he started acquiring different luxury brands like Celine, Christian Lacroix, Berluti, and Kenzo.
In 1996, he bought Loewe, Marc Jacobs, and Sephora. Next year, another five brands joined the group Thomas Pink, Emilio Pucci, Fendi, DKNY, and La Samaritaine.
Increase In Success And Profit (2001 – Present)
Few years back in 2011; Bernard Arnault claimed that he bought 50.4% of Bulgari. In 2017, Arnault bought Dior haute couture, ready-to-wear, and footwear once more. In 2018, Arnault led the business to a record-breaking 42.6 billion Euro sale.
Bernard Arnault declared in November 2019 that he intended to purchase Tiffany & Co. By June 2020, the acquisition was expected to be finalized. But Arnault canceled the agreement because of a clause that wasn’t followed. Arnault declared that Tiffany’s commercial practices during COVID-19 were to blame.
However, following a lengthy court battle, Tiffany and Arnault reached a consensus and accepted the original terms of the deal. However, the cost is now only $16 billion as opposed to $16.2 billion.
Bernard Arnault – Honors & Awards
- On 10 February 2007, he received Commandeur de la Legion d’Honneur
- On 14 July 2011, he was conferred with the Grand Officer de la Legion d’Honneur
- In 2011, he received the Woodrow Wilson Award for Global Corporate Citizenship
- In 2012, he was awarded the Honorary Knight Commander of the Most Excellent Order of the British Empire
- In March 2014, he received the Museum of Modern Art‘s David Rockefeller Award
About Bernard Arnault & family
- Bernard Arnault oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora.
- LVMH acquired American jeweler Tiffany & Co in 2021 for $15.8 billion, believed to be the biggest luxury brand acquisition ever.
- Arnault’s holding company Agache backs venture capital firm Aglaé Ventures, which has investments in businesses such as Netflix and TikTok parent company ByteDance.
- His father made a small fortune in construction; Arnault got his start by putting up $15 million from that business to buy Christian Dior in 1984.
- Arnault’s five children all work at LVMH; in July 2022, he proposed a reorganization of his holding company Agache to give them equal stakes.
Some Popular Achievements Of Bernard Arnault
There are some of the popular achievements of Bernard Arnault that most of us are unaware of. You must know about it to have a clear insights about the achievements of his life. You need to take care of the realities while attaining your goals with ease.
- Building LVMH
Bernard Arnault is best known for his role in building and leading LVMH (Moët Hennessy Louis Vuitton), one of the world’s largest luxury conglomerates. LVMH comprises numerous prestigious brands, including Louis Vuitton, Dior, Fendi, Givenchy, Moët & Chandon, Hennessy, and many more. Under his leadership, LVMH has become a global powerhouse in the luxury goods industry.
- World’s Wealthiest
Based on Forbes’ Billionaires List, Bernard Arnault has continuously ranked among the world’s wealthiest people. He has frequently been regarded as the richest person in the world. His business ideas have made him one of the wealthiest guy in the world right now. Hard effort and creative ideas are the keys to a man’s success, and Arnault is excelling in both areas.
- Acquisition & Expansion
Arnault is known for acquiring iconic luxury brands to add to LVMH’s portfolio. His strategic acquisitions have included brands like Christian Dior, Bulgari, and Tiffany & Co. These moves have solidified LVMH’s position as a dominant force in the luxury market.You need to get through the complete process that can make things easier for you in attaining your needs with complete. You should not make things too complex from your end while you want to make things work for you in all possible manners.
- Sustainable Practices
Under Arnault’s leadership, LVMH has made commitments to sustainability and environmental responsibility. The company has taken steps to reduce its environmental footprint and promote ethical practices in the luxury industry.
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