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☆ The world's richest person just put 2 more of his kids on the board of his $430 billion company
▼ + stars: | 2024-04-18 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Bernard Arnault has appointed two more of his children to LVMH's board. Alexandre Arnault is a vice president at Tiffany & Co. and Frédéric Arnault heads LVMH's watches division. AdvertisementThe French luxury-goods billionaire Bernard Arnault, who's the world's richest person, has appointed two more of his children to LVMH's board. Only Jean Arnault, Bernard Arnault's youngest son, doesn't sit on the company's board. Bernard Arnault is the world's richest person, with a net worth of about $221 billion, according to estimates by Bloomberg.

Persons: Bernard Arnault, Alexandre Arnault, Frédéric, Bernard Arnault's, —, Frédéric Arnault, Delphine Arnault, Dior Couture, Antoine Arnault, LVMH, Jean Arnault, doesn't, Louis Vuitton's, Louis Vuitton, Dior, Marc Jacobs, Givenchy Organizations: Tiffany, Service, Christian Dior, Bloomberg

☆ Bernard Arnault, the world's 3rd-richest person, is set to appoint 2 more of his children to the LVMH board
▼ + stars: | 2024-01-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewBernard Arnault, the world's third-richest person, is set to appoint two more of his children to LVMH's board, France's La Lettre first reported. The French billionaire plans to propose his sons Alexandre Arnault, 31, and Frédéric Arnault, 29, as board members, the reports say, quoting unnamed sources. Four of Arnault's five children will sit on the LVMH board if their appointments are confirmed. Arnault cofounded LVMH in the 1980s and is its CEO and chairman. In May 2023, he became the third person to be worth more than $200 billion, according to the Bloomberg Billionaires Index.

Persons: —, Bernard Arnault, France's, Alexandre Arnault, Frédéric Arnault, Delphine, Bernard's, Antoine, It's, Arnault hasn't, LVMH, Alexandre, Vianney Le Caer, Louis Vuitton, Dior, Marc Jacobs, LVMH didn't, Donald Trump, he'd, Frédéric, Delphie, Dior Couture, Jean, Louis Vuitton's, Arnault, Elon Musk, Jeff Bezos Organizations: Service, Bloomberg, The Financial Times, Business, Novo Nordisk, Tiffany, New York Times, Mar, TAG, Christian Dior, Elon Locations: French, Danish, Swiss, LVMH

☆ The Birkenstock brothers are worth $3.4 billion, even after the shoemaker's shares tanked at its IPO
▼ + stars: | 2023-10-12 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Two heirs of Birkenstock are now worth $3.4 billion after the company's IPO, Bloomberg reported. Birkenstock listed in New York on Wednesday, but shares opened at 11% below their offer price. AdvertisementAdvertisementTwo of the heirs of German sandal maker Birkenstock are now worth a combined $3.4 billion after the company went public, Bloomberg reported. The nearly 250-year-old company listed on the New York Stock Exchange via an IPO, trading under the ticker "BIRK" and pushing up the fortunes of Alex and Christian Birkenstock. The brothers netted more than €3 billion ($3.2 billion) from that transaction, Bloomberg reported.

Persons: Birkenstock, —, Alex, Christian Birkenstock, Christian, Stephan, Karl Birkenstock, Alex Birkenstock, Bernard, Alexandre Arnault, Charles Dolan, Kendall Jenner, Barbie, boomers, Xers, Gen Zers, Greta Gerwig's, Emma Chamberlain Organizations: Bloomberg, Service, New York Stock Exchange, Warner Bros Locations: New York, Germany, Americas, Europe ., Boston, Barbieland

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. Birkenstock is the latest high-profile listing to put investor focus on the initial public offering (IPO) market, which is gradually reopening after two relatively quiet years and a burst of activity in September. Due to recent price hikes, worldwide footwear sales are expected to rise just 2.9% over 2022, according to market research firm Euromonitor International. AllBirds (BIRD.O), Dr Martens (DOCS.L), and On Running (ONON.N) have all seen their market value fall since their IPOs in 2021. "When you look at the trend of other shoe companies that have IPO-ed, it doesn't give a great outlook for Birkenstock," Valechha said.

Persons: Fabrizio Bensch, Birkenstock, Kellogg, Mamta, Cheviot, Valechha, Johann Adam Birkenstock, Barbie, Margot Robbie, Jessica Ramirez, Jane Hali, Siobhan Gehin, Roland Berger, Thomas Hayes, sneaker, Dr Martens, Allbirds, Alexandre Arnault, LVMH, Bernard Arnault, Matt Oguz, Iris, L, Ananya Mariam Rajesh, Helen Reid, Emma, Victoria Farr, Echo Wang, Abigail Summerville, Deepa Babington Organizations: REUTERS, LVMH, New York Stock Exchange, Euromonitor, Associates, Dick's Sporting, Reuters, Partners, Norges Bank Investment Management, Thomson Locations: Berlin, Germany, New York, London, Neustadt, United States, U.S, Cannes, Silicon Valley

ImageFamily dramaHBO will release its last episode of “Succession” on Sunday. The fictional Roy family in “Succession” bears an uncanny resemblance to the Murdoch family. On the other was Wellington’s nephew, Tim Mara. Show credits could feature the Venetian blind that reportedly divided their stadium luxury suites at the height of their tension. The series would end in 1995 when Tim Mara, lacking any other recourse, sold his stake in the team.

☆ There's a real-life 'Succession' drama playing out among the children of Bernard Arnault, the world's richest person and head of luxury behemoth LVMH
▼ + stars: | 2023-05-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

But there's a similar legacy battle going on inside LVMH, the French luxury house run by Bernard Arnault. The children of the world's richest man are vying for influence within LVMH in a "Darwinian" fight. Showrunner Jesse Armstrong says his fictional Roy family is inspired by several famous dynasties, such as the Hearsts — the family behind Hearst Communications — and the Redstones — the controlling influence behind Paramount Global. There's still plenty of rivalry between the progeny of Bernard Arnault, CEO of luxury goods behemoth LVMH and world's richest person. The Roy family of "Succession."

☆ LVMH chief Bernard Arnault ordered a makeover for Tiffany's Fifth Avenue store after getting lost inside
▼ + stars: | 2023-04-29 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

LVMH's CEO ordered a makeover of Tiffany's flagship Fifth Avenue store after getting lost in it. The Tiffany flagship store on Fifth Avenue pictured in 1995. Since the acquisition, LVMH has overhauled the design of Tiffany's flagship store, which reopened Wednesday after being closed since 2019. Tiffany & Co. brand ambassador Gal Gadot, Alexandre Arnault (left) and Tiffany CEO Anthony Ledru open the revamped Fifth Avenue store on April 26. When asked about that figure, Arnault told the Journal: "You cannot dream when you talk numbers.

☆ Tiffany unveils revamped New York flagship, showcasing new look
▼ + stars: | 2023-04-26 | by ( Mimosa Spencer | ) www.reuters.com time to read: +3 min

Global Brand Ambassador Gal Gadot along with Anthony Ledru, President and Chief Executive officer of Tiffany & Co attend a ribbon cutting ceremony for reopening of the Tiffany flagship store on 5th Avenue in Manhattan in New York City, New York, U.S., April 26, 2023. REUTERS/Brendan McDermidNEW YORK, April 26 (Reuters) - Tiffany & Co. lifted the lid on its newly renovated New York city flagship on Wednesday, the centerpiece of a broad brand reset orchestrated by its owner, the world's biggest luxury group LVMH. Alexandre Arnault spearheaded the label's initial reset with an advertising campaign starring Beyonce -- wearing the famous yellow Tiffany diamond -- and Jay-Z. Now the priority will be on renovating the label's retail network, essential for Tiffany to bridge the gap with Cartier, the world's largest jewelry label, which belongs to Richemont(CFR.S), Ledru said. Tiffany sales came to 5.1 billion euros ($5.63 billion) in 2022 and are forecast to reach 7.4 billion in 2025, according to HSBC.

☆ The New Tiffany, Unboxed
▼ + stars: | 2023-04-20 | by ( Alex Vadukul | ) www.nytimes.com time to read: +1 min

For nearly four years, the Tiffany & Company flagship store on the corner of Fifth Avenue and East 57th Street was shrouded in scaffolding while it underwent a full-bore renovation. In the days before the reopening, set for April 28, a Tiffany executive vice president, Alexandre Arnault, and the company’s chief executive, Anthony Ledru, monitored final preparations as they whispered to each other in French. Display cases glittered with Tiffany pieces — heart tag bracelets, Elsa Peretti Bone cuffs and Paloma Picasso necklaces. Digital screens encircling the room showed an animation of a diamond-encrusted bird fluttering across the New York City skyline. We decided to do both.”He gestured toward the digitized bird, noting that it was based on a design by the noted Tiffany jewelry artist Jean Schlumberger.

☆ Son of Bernard Arnault, World’s Richest Person, Buys Manhattan Penthouse for About $18 Million
▼ + stars: | 2023-03-19 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Alexandre Arnault , son of the world’s richest man, Bernard Arnault, has purchased a penthouse apartment in downtown Manhattan for close to $18 million, according to a person familiar with the situation.

☆ Donald Trump is cozying up to the son of the world's richest man, hosting Alexandre Arnault at Mar-a-Lago and calling him 'a young man on the move'
▼ + stars: | 2023-02-16 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Donald Trump hosted Alexandre Arnault and his wife at his Mar-a-Lago resort in Florida. He called Arnault a "young man on the move" and lauded his father, LVMH chief Bernard Arnault. "It was great having Alex Arnault of LVMH, and his wonderful wife, Géraldine, for dinner at Mar-a-Lago," Trump posted on Truth Social on Wednesday. "He is a young man on the move, the son of one of the great businessmen and leaders in Europe, and in the World," Trump wrote of Arnault, who is 30. It is unclear why Trump decided to host Arnault and his wife at Mar-a-Lago this week, or why they went.

☆ World's richest person Bernard Arnault's fortune has increased by more than $33 billion this year
▼ + stars: | 2023-02-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The multi-billionaire tops its rankings of the world's richest people, followed by Elon Musk. The LVMH CEO and co-founder has a current net worth of $196 billion, per Bloomberg. Bernard Arnault is the CEO and co-founder of luxury goods conglomerate LVMH Moët Hennessy - Louis Vuitton, more commonly known as LVMH. The 73-year-old French billionaire is currently ranked by Bloomberg as the world's richest person, followed by Elon Musk whose net worth is valued at $175 billion. The CEO recently appointed his daughter, Delphine Arnault, CEO and chair of Dior.

☆ The Arnaults are betting big on K-Pop, and it shows the power of South Korea's luxury spending machine
▼ + stars: | 2023-01-31 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +6 min

Experts tell Insider this is a calculated move to tap into the booming South Korean market. A targeted move to win over the South Korean marketBTS member Jimin (left) and BLACKPINK singer Rosé. "Fashion trends tend to be created and adopted in South Korea, before being diffused to other markets in Asia," Dubois said. She also said South Korea is "increasingly known" for its K-Pop stars, movies, and shows in the US — which helps with promotions stateside too. Once the COVID situation settles, it is possible that Chinese tourists, with their spending power, return to Korea," Kim said.

☆ LVMH's Arnault tightens family grip as daughter becomes Dior CEO
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +2 min

The world's largest luxury group also replaced long-time Louis Vuitton CEO Michael Burke with Pietro Beccari, head of Dior since 2018. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. Burke will continue to work with Bernard Arnault, the company said in a statement. The move follows the recent appointment of Antoine Arnault, Bernard Arnault's eldest son, to head the family holding company, replacing veteran executive Sidney Toledano. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 28, is CEO of TAG Heuer - both LVMH brands.

☆ LVMH names new Louis Vuitton CEO, puts Arnault daughter in charge of Dior
▼ + stars: | 2023-01-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

Pietro Beccari, who has been the head of Dior since 2018, is moving to replace long-time Louis Vuitton CEO Michael Burke, 65. Delphine Arnault, 47, has worked at Louis Vuitton for the past decade alongside Burke and previously spent a dozen years at Dior. [1/2] Bernard Arnault, CEO of LVMH Moet Hennessy Louis Vuitton SE, and Delphine Arnault, Executive Vice President of Louis Vuitton, leave after the Spring/Summer 2020 collection show for fashion house Louis Vuitton during Men's Fashion Week in Paris, France, June 20, 2019. Alexandre Arnault, 30, is in charge of products and communication at Tiffany, while Frederic Arnault, 28, is CEO of another group brand, TAG Heuer. The youngest child, Jean Arnault, 24, heads marketing and product development for Louis Vuitton's watches division.

PARIS, Dec 9 (Reuters) - Antoine Arnault, LVMH chairman Bernard Arnault's eldest son, was on Friday named chief executive of family holding company Christian Dior SE, replacing veteran executive Sidney Toledano and stirring speculations of succession at the group. Christian Dior is a listed company that owns the bulk of the Arnault family's stake in LVMH (LVMH.PA) , the world's largest luxury group. At LVMH, Antoine Arnault, a business school graduate and a board member since 2006, oversees the group's communications and environmental issues, driving efforts to shore up its reputation. [1/4] Antoine Arnault, CEO of Berluti, attends the Fall/Winter 2019-2020 collection show for fashion house Berluti during Men's Fashion Week in Paris, France, January 18, 2019. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 27, is chief executive of TAG Heuer.

REUTERS/Gonzalo Fuentes/File PhotoPARIS, Dec 9 (Reuters) - Antoine Arnault, the eldest son of LVMH (LVMH.PA) chairman and chief executive officer Bernard Arnault, has been named chief executive of family holding company Christian Dior SE, replacing veteran LVMH executive Sidney Toledano. Christian Dior SE is a listed company that owns the bulk of the Arnault family's stake in LVMH, the world's largest luxury group. The most visible of the five, Antoine Arnault, 45, oversees the group’s communications and environmental issues, driving efforts to shore up its reputation. The fashion label was folded into the LVMH group in 2017, and Christian Dior SE now holds 41% of LVMH, corresponding to 56% of the voting rights in the group. Alexandre Arnault, 30, is an executive at Tiffany & Co. while Frederic Arnault, 27, is chief executive officer of TAG Heuer.

☆ Insider Life: Digital nomad invasion — 'Free' Botox — Tiffany revival
▼ + stars: | 2021-07-16 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

As "digital nomads" flock to far-flung destinations to set up shop, they're leaving a negative impact in their wake. Set JetAn aviation firm is giving travelers a taste of the high life by offering private-jet flights for as low as $450. For the first time in a decade, the Las Vegas Strip has a new casino — and this one is a $4.3 billion crypto-friendly resort. Resorts World Las Vegas, which opened June 24, has tech-forward amenities like "cashless wagering," and a tunnel that connects it to the Las Vegas Convention Center via Teslas. This summer, well-off travelers are turning to nature — and everything from luxury campsites to Gucci are jumping on the trend.

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