{"id":244430,"date":"2025-05-17T01:55:36","date_gmt":"2025-05-17T01:55:36","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/arnaults-work-extension\/"},"modified":"2025-05-17T01:55:36","modified_gmt":"2025-05-17T01:55:36","slug":"arnaults-work-extension","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=244430","title":{"rendered":"Arnault\u2019s Work Extension"},"content":{"rendered":"<p> <br \/>\n<br \/><span class=\"wp-block-paragraph\"><\/p>\n<p>Bernard Arnault, the French billionaire, CEO and chair of LVMH, has just been confirmed at the helm of the world\u2019s largest luxury brand for the next 10 years.<\/p>\n<p><\/span><\/p>\n<p><span class=\"wp-block-paragraph\"><\/p>\n<p>Shareholders voted last month to amend its bylaws, raising the retirement age for its CEO to 85, handing Arnault the reins for the better part of the next decade.<\/p>\n<p><\/span><\/p>\n<p><span class=\"wp-block-paragraph\"><\/p>\n<p>With a personal fortune of some $150 billion, Arnault has been sole chair of LVMH since 1989. He is also the majority shareholder of the luxury conglomerate, which he controls together with his five children, all of whom hold senior leadership positions.<\/p>\n<p><\/span><\/p>\n<p><span class=\"wp-block-paragraph\"><\/p>\n<p>Renowned for his dealmaking skills, Arnault eyed the deal of his life in 1984. In his mid-thirties and after just a few years working in his family\u2019s real estate business, he acquired for just one symbolic franc the Boussac Saint-Fr\u00e8res retail conglomerate, parent company of Christian Dior, then on the brink of bankruptcy. Arnault swiftly dismantled it, keeping only the Dior brand. Three years later, he engaged with Luis Vuitton and Mo\u00ebt Hennessy to join the two firms, thus co-founding LVMH. He gained control of the company in a matter of months and took sole leadership in early 1989.<\/p>\n<p><\/span><\/p>\n<p><span class=\"wp-block-paragraph\"><\/p>\n<p>Thanks to a long series of strategic deals and acquisitions, Arnault has built the most powerful multinational in luxury retail and the largest by market capitalization. Currently worth some $364 billion, his empire includes not only fashion but wine and spirits, watches, hotels, and jewelry. Most of LVMH\u2019s famous fashion brands, such as Celine, Kenzo, Fendi, DKNY, and Marc Jacobs, were acquired in the early\u201990s. The company then expanded into the jewelry business, first with the buyout of Italy\u2019s Bulgari for $5.2 billion in 2011 and then with the purchase of US jeweler Tiffany for $16 billion in 2021.<\/p>\n<p><\/span><\/p>\n<p><span class=\"wp-block-paragraph\"><\/p>\n<p>The Arnault family currently owns 49% of LVMH share capital and 64.8% of the voting rights. With the recent approval of the bylaws amendment, it looks like its collection of storied brands will remain in the family for the foreseeable future.<\/p>\n<p><\/span><\/p>\n<p>The post <a href=\"https:\/\/gfmag.com\/capital-raising-corporate-finance\/arnault-work-extension-lvmh\/\">Arnault\u2019s Work Extension<\/a> appeared first on <a href=\"https:\/\/gfmag.com\">Global Finance Magazine<\/a>.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>Bernard Arnault, the French billionaire, CEO and chair of LVMH, has just been confirmed at the helm of the world\u2019s largest luxury brand for the next 10 years. Shareholders voted last month to amend its bylaws, raising the retirement age for its CEO to 85, handing Arnault the reins for the better part of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":231211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[89742,8471,418],"dealstore":[],"offerexpiration":[],"class_list":["post-244430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-arnaults","tag-extension","tag-work"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Arnault\u2019s Work Extension - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=244430\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arnault\u2019s Work Extension - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Bernard Arnault, the French billionaire, CEO and chair of LVMH, has just been confirmed at the helm of the world\u2019s largest luxury brand for the next 10 years. 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