Bernard Arnault news and archive

French luxury mogul Arnault defiant at ex-spy chief trial

Paris - France's richest man, LVMH chief Bernard Arnault, testified Thursday in the influence-peddling trial of the former head of France's domestic intelligence agency, denying any knowledge of an alleged scheme to protect the luxury group. Bernard Squarcini, the former head of the DCRI security service (since renamed the DGSI), is one of 10...

Podcast

Podcast: The Success Story of Bernard Arnault, CEO of LVMH

In this episode of the 'Success Story' podcast, its hosts discuss the story of Bernard Arnault, the 75-year-old founder, chairman and CEO of the French luxury conglomerate LVMH. Arnault plays a pivotal role in the history of luxury fashion. The podcast explores how Arnault is transforming the luxury industry. The hosts discuss the highs and lows...

BusinessFeatured

French luxury titans see wealth decline

LVMH chief Bernard Arnault is no longer the world’s wealthiest man. As the luxury sector grapples with a China slowdown, three of France’s billionaires — Bernard Arnault, L’Oréal’s Francoise Bettencourt Meyers and Kering’s Francois Pinault — are seeing their fortunes dwindle as "restraint replaces indulgence," reports Bloomberg. Their combined...

Business

Bernard Arnault's L Catterton snaps up stake in Polène

The leather goods brand Polène is no longer part of the portfolio of Otium Capital, the investment company of Pierre-Édouard Stérin, the far-right billionaire. Following this withdrawal, and according to the media L'Informé, L Catterton, a private-equity firm backed by LVMH, has acquired a minority stake in Polène. On July 11, the French media...

Business

LVMH and SpaceX: Could Arnault and Musk seek a collaboration?

An unexpected relationship is said to have developed between two titans of global industry: Elon Musk and Bernard Arnault. In an interview with CNBC ahead of the opening ceremonies of the Paris Olympic Games, Bernard Arnault, chairman of luxury conglomerate LVMH, recounted the key points he discussed during his exchange with Elon Musk, CEO of...

Business

LVMH CEO confirms personal stake in luxury group Richemont

Bernard Arnault, LVMH's CEO, has confirmed reports of a small personal stake in Richemont, the Swiss luxury goods company and parent of Cartier and Alaïa. Mr Arnault in an interview with US news outlet CNBC emphasised his stake is unrelated to LVMH's corporate strategy. This move comes amid challenging financial results for LVMH, with a 1...

Business

Richemont: luxury group in sights of LVMH's Arnault?

The Swiss luxury group Richemont, which owns Cartier and other jewellery brands, is regularly the subject of takeover rumours which its founder, the South African billionaire Johann Rupert, always dismisses. But Bernard Arnault, chief executive of rival LVMH, the number one in the field, is building up a stake in Richemont -- a move which so far...

Business

Bernard Arnault, LVMH chief, buys shares in Richemont

LVMH chairman and CEO Bernard Arnault has reportedly bought shares in Cartier parent Richemont, the rival luxury group based in Switzerland. Widely seen as a personal investment, Mr Arnault is thought to own a small shareholding and would not directly influence LVMH's corporate strategy or lead to immediate synergies between LVMH and Richemont....

BusinessFeatured

LVMH Innovation Award 2024: Bernard Arnault prioritises AI with FancyTech

On 23 May, at the VivaTech trade fair, the LVMH group awarded seven trophies to start-ups nominated for innovation prizes in various categories. Morgan Mao, founder of FancyTech, a Chinese company, received the grand prize from CEO Bernard Arnault himself. "Make your dream a reality" was the motto of the ceremony, which was held to a full house...

People

Macron decorates world's richest man Arnault as Beyonce, Musk look on

Paris - France's President Emmanuel Macron decorated the world's richest man Bernard Arnault at a star-studded ceremony that included pop queen Beyonce and tech billionaire Elon Musk, the presidency and a news report said Thursday. Macron awarded Arnault the country's highest honour, the Grand Cross of the Legion d'Honneur, at the event on...

PeopleFeatured

Bernard Arnault secures LVMH Group control for next 30 years

French billionaire Bernard Arnault has solidified his control over the LVMH Group for the next three decades. The transition, originally set to occur upon his passing, has now been triggered by his youngest child, Jean Arnault, turning 25, reported Italy’s ll Sole 24 Ore newspaper. Instead of control shifting to a Belgian foundation, it will...

People

French billionaire investigated in money laundering probe

Paris - French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort, according to Paris prosecutors. The probe concerns their activities in Courchevel, a ski resort in the French Alps known for being a playground for the ultra-rich, they said late...