Bernard Arnault news and archive

LVMH CEO Bernard Arnault was briefly the wealthiest person in the world

Bernard Arnault was briefly the wealthiest person in the world on Monday. In the hours before the New York Stock Exchange opened the president and CEO of French luxury giant LVMH surpassed Amazon founder Jeff Bezos in Forbes’ latest ranking. His fortune was valued at 186.3 billion dollars (about 152 billion euros), 300 million above Bezos (186...

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LVMH appoints Frédéric Arnault as CEO of Tag Heuer

LVMH has announced the appointment of Frédéric Arnault as Tag Heuer’s CEO, effective from July 1. 25-year-old Arnault, son of LVMH chairman and chief executive officer Bernard Arnault, joined Tag Heuer in 2017 to manage its smartwatch activities. Previously piloting the design phase of the latest Connected watch, he will now, as head of the...

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LVMH chairman Bernard Arnault buys stake in Lagardere holding company

LVMH chairman Bernard Arnault is to buy a stake in the holding company of French billionaire Arnaud Lagardere, the owner of his eponymous and indebted publishing house, Lagardere. It will amount to around 25 percent of the share capital, according to a joint press release from Lagardere Capital & Management and Groupe Arnault. It comes as the...

Fashion Featured

Following her first Paris parade, McCartney calls for 'fashion to save the planet'

British designer Stella McCartney pleaded for fashion to "wake up" and help save the planet Monday after her first Paris show as part of the industry's biggest luxury conglomerate. "The world is crying out for change and it is our responsibility to act now," said the creator, whose label is a pioneer of ethical fashion. "We aren't perfect... and...

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LVMH's Bernard Arnault crticized for Thunberg attack

Vivienne Westwood designer Andreas Kronthaler hit out Saturday at fashion's most powerful man Bernard Arnault for attacking Greta Thunberg. The French billionaire and head of the LVMH conglomerate that owns labels like Louis Vuitton, Dior, Givenchy, and pop idol Rihanna's new brand Fenty, said the teenage climate activist was "surrendering to...

Fashion

LVMH donates 10 million euros to fight Amazon wildfires, Brazil rejects G7 aid

LVMH has pledged 10 million euros (9.1 million pounds) to help efforts to fight ongoing wildfires in the Amazon, but donations have since been rejected by the Brazilian government. LVMH’s announcement was made in a joint statement on the French luxury brand’s website by chairman and CEO Bernard Arnault (pictured) and member of the LVMH board of...

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Bernard Arnault (LVMH) becomes the world's latest centibillionaire

Bernard Arnault, chairman of French luxury conglomerate LVMH, is the world’s latest centibillionaire, according to Bloomberg. Arnault’s fortune reached 100 billion US dollars last week, when LVMH climbed 2.9 percent to 368.80 euros (approximately 420 dollars) a share. His net worth increased 32 billion US dollars this year, more than any other...

BusinessFeatured

Lyst confirms LVMH funding round

London - LVMH has successfully led a new round of financing for Lyst, as the global fashion search platform aims to expand its presence online. The announcement confirms weeks of speculation that the luxury group was raising fresh capital for Lyst and sees LVMH's head of digital, Ian Rogers, join the board at Lyst. The investment will be used to...

Business

Belgian prosecutors close investigation into Bernard Arnault

Belgian prosecutors said on June, 22 they have closed an investigation into a 2.9 billion euro capital increase in a Belgian company owned by billionaire and chief executive of LVMH (LVMH.PA) Bernard Arnault. According to the court report, prosecutors in charge of the case concluded that Arnault has accepted a deal to end the case opened in 2012...

Business|INTERACTIVE MAP Featured

Rich List: Top 10 Billionaires in Fashion 2017

The fashion industry is an ever-changing sector where anything goes. One year, your brand could be the most coveted and desirable it-brand, the next year it could be on the brink of bankruptcy. However, there are a few famed fashion houses and retailers who have fought against the odds and continue to deliver designs that satisfy their consumers...

Business|OPINION Featured

What Donald Trump Can Learn from LVMH’s Bernard Arnault

“What I love is to win. What I love is being number one…Business is very exciting. That moment when you’re about to do a huge deal and you’re not sure if it’s going to happen or not…” You might think these words were lifted straight out of Trump’s 1987 book “The Art of the Deal” but they were spoken by Bernard Arnault in a 2015 interview with...

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Interactive Chart: Top 10 Richest People in Fashion of 2016

London - As the end of the year draws ever closer, FashionUnited takes a moment to reflect back on 2016. Fashion has always been a big business, but this year saw some of the richest individuals working in fashion become even richer, in spite of economical and political uncertainties sweeping across the globe. Unsurprisingly, the title of the...