Bernard Arnault

2023 - 1 - 11

Post cover — Image courtesy of "Financial Times"

Bernard Arnault promotes daughter Delphine in LVMH reshuffle (Financial Times)

LVMH chief executive Bernard Arnault has promoted his daughter Delphine to run fashion brand Dior as part of a reshuffle at the world's largest luxury group ...

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LVMH billionaire Bernard Arnault appoints daughter to run Dior (The Guardian)

Sibling succession battle looms after eldest daughter of world's richest person named boss of €382bn empire's second-biggest brand.

She joined the LVMH board in 2003 – becoming the first woman and youngest person to serve on it. “Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior.” Luca Solca, an analyst at investment firm Bernstein, has said Arnault is creating a “Darwinian contest” to succeed him as chief executive of LVMH, which he co-founded in 1987. “I remember very well the 100-year ceremony, in 1996. However, the contest could extend to all five of Arnault’s children. Delphine and Antoine, from his first marriage to Anne Dewavrin, now have top roles at LVMH.

Bernard Arnault Plans Succession As Daughter Given Top Job At Dior (Forbes)

LVMH chairman and CEO Bernard Arnault has reshuffled the top management and tightened his family's grip of the business with the appointment of his daughter ...

LVMH has continued to enjoy strong demand for its high-end fashion, handbags, watches and accessories despite the global economy slowing last year among growing uncertainty. Three of Bernard Arnault’s sons, Antoine, Alexandre, and Frédéric, have executive roles within the group. Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior.” She joined the LVMH board in 2003, in doing so becoming the first woman and youngest person to serve on it. That move was also seen as a way to facilitate the future governance within the family and to organise the ownership of the business in the coming decades among the five heirs and their descendants. Luxury goods billionaire Bernard Arnault has appointed his daughter Delphine to run Christian Dior, one of the key brands in a the $410bn luxury congomerate, as part of a management shake-up.

LVMH's Bernard Arnault, the world's richest man, names his ... (Euronews)

This won't stop the "nepo baby" chat... LVMH's Bernard Arnault, the world's richest man, names his daughter CEO of Dior.

Beccari is moving to replace long-time Louis Vuitton CEO Michael Burke, who is Arnault's longest-serving lieutenant and has also been chairman of jewellery label Tiffany. Sales rose 28 percent to €36.7 billion and shares in LVMH rose as much as 2% to hit new highs, as luxury companies have been boosted recently by the easing of COVID-19 restrictions in the key market: China. It refers to those whose careers have benefitted in no small way from family connections and have bagged high-ranking jobs because of them. As part of the reshuffle, Arnaud has also promoted now-former Dior CEO Pietro Beccari, who has been the head of Dior since 2018. The businesswoman is also a member of the board of directors for Moët Hennessy, Pucci (since 2007), M6 (2009), Céline (since 2011), 21st Century Fox and Havas (both since 2013), amongst others. Alexandre Arnault, 30, is an executive vice president at Tiffany & Co.; Frédéric Arnault, 28, serves as the CEO of Tag Heuer; and the youngest of the five siblings, Jean Arnault, 24, is the director of watches development and marketing at Louis Vuitton.

Billionaire owner of LVMH appoints daughter to run Dior (The Independent)

Arnault, 73, overtook Tesla founder Elon Musk as the world's richest man last year.

Arnault’s decision to elevate Delphine to Dior CEO is the being seen as the latest in a series of moves to ensure control over LVMH remains within the family when he steps down. Analyst at investment firm Bernstein, Luca Solca told The Guardian Arnault was creating a “Darwinian contest” to succeed him – prompting comparison to the Murdoch heirs or the fictitious Roy family at the centre of the hit TV show Succession. [LVMH](/topic/lvmh) chairman and the world’s richest man, [Bernard Arnault,](/topic/bernard-arnault) has appointed his daughter Delphine to the top job at [Christian Dior](/topic/christian-dior). “Under Delphine’s leadership, the desirability of Louis Vuitton products advanced significantly, enabling the brand to regularly set new sales records,” Arnault announced Delphine’s new role at LVMH, as quoted by [Elon Musk](/topic/elon-musk) as the world’s richest man last year, with an estimated [net worth of $188bn (£155bn)](http://go.redirectingat.com/?id=44681X1458326&url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Felon-musks-drop-fortunes-could-150104025.html&sref=https://www.independent.co.uk/life-style/fashion/bernard-arnault-daughter-delphine-dior-b2260709.html). Her promotion is part of a management reshuffle at Europe’s most valuable luxury company, with the 47-year-old taking over as the fashion house’s chief executive from Pietro Beccari.

LVMH owner Bernard Arnault appoints daughter to run Dior (CNN)

Luxury group LVMH's billionaire owner and the world's richest man, Bernard Arnault, has appointed his daughter Delphine as the new head of Christian Dior, ...

In a statement, Bernard Arnault commended Beccari, who has been at Dior since 2018, for his "exceptional" work at the house. Last year, the fashion house hosted a show in South Korea for the very first time. The move also comes as Dior, like the rest of the luxury fashion industry, heads into a busy season of major shows and new collections. The label has meanwhile staged increasingly ambitious shows — including a dramatic evening spectacle that used the illuminated pyramids of Giza as a backdrop for its Fall 2023 menswear collection — and expanded its presence in Asia. "Her keen insights and incomparable experience will be decisive assets in driving the ongoing development of Christian Dior." She previously spent over a decade at Dior and has been closely involved in LVMH's Prize for Young Fashion Designers.

LVMH boss Bernard Arnault made daughter Delphine the new Dior ... (Fortune)

Dior's new CEO, Delphine Arnault, is the daughter of LVMH owner Bernard Arnault, but experts warn against the practice of hiring your children.

“In a company like LVMH this is less of a problem but I see it a lot with businesses which start family-run and then need to scale. The other aspect is that the person who has been hired might have to work twice as hard to prove themselves because other people think they only got the job because they are family. “The big con is the effect it will have on other employees. She explained: “Complexities that arise within a family business tend to relate to the people issues rather than the law. [Orchestrating what analysts have called a “Darwinian contest” ](https://www.theguardian.com/business/2023/jan/11/bernard-arnault-appoints-daughter-delphine-dior-chief-executive-lvmh)is clearly working for LVMH, but would it work for any other organization? Arnault’s other four children already hold key roles in the group — [prompting questions over who is in pole position to inherit his crown in the coming years.](https://fortune.com/2022/12/07/bernard-arnault-worlds-richest-man-5-children-lvmh-real-life-succession-billionaire/)