By weaving together tradition and trendiness, LVMH’s \nBernard Arnault has created the world’s largest luxury empire \nand a $100 billion fortune. Now he is ready to scale up.
Arnault often plays Chopin, his favorite composer, on this Yamaha grand in a room down the hall from his 9th floor office.
Last year, Louis Vuitton shuttered a store in Fort Lauderdale, Florida, because adjacent shops, restaurants and parking weren’t ritzy enough. Arnault visited a property on the Champs-Élysées multiple times before he approved a new Dior store near the Arc de Triomphe that opened in July, despite data showing the previous tenant had sluggish sales. “He pushes you to really be sure,” Dior chief Beccari says. “He wants to challenge you, that’s his tactic.
Mid-event, Arnault was asked to share his thoughts on young climate activists like 16-year-old Greta Thunberg. “I’m a natural optimist,” he said, “unlike Greta, who has a big problem, and that’s projecting an outrageous amount of pessimism in her messages without any real solutions.” Four of Arnault’s five children work in corners of the LVMH empire: Frédéric, Delphine, Antoine and Alexandre.
, with the pop star Rihanna, distributing the products through its retail beauty chain Sephora’s 2,600 stores. Capitalizing on Fenty’s broad-audience offerings—its foundation comes in 40 skin shades—and on its founder’s 77 million Instagram followers, the division will hit $550 million in sales this year, Arnault says. He’s betting that Fenty Fashion, the apparel collection LVMH debuted with Rihanna in May, will meet with similar success. “She brings a different vision of fashion,” Arnault says.
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