Bernard Arnault Bio, Wiki, Age, height, Education, Networth, Family and More

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Bernard Arnault is a French business magnate, investor, and art collector. He is the founder, chairman, and CEO of LVMH Moët Hennessy Louis Vuitton, the world's largest luxury goods company.

Image of Bernard Arnault

How old is Bernard Arnault?

He is 75 years 1 Month(s) 20 day(s) old.

How tall is Bernard Arnault?

He is In feet: 6 feet 1 inch, In meter: 1.854m, In centimeter: 185.52cm and In inch: 73 inches tall.

Bernard Arnault Biography and Wiki:

He is a professional French Businessman, investor and art collector. His nickname is Bernard. Do you know? What is the Date of birth of Bernard Arnault? Where was born Bernard Arnault? He was born in Roubaix, France on 05 May, 1949 (Thursday) . Everybody want to know that how much age of Bernard Arnault? Age of Bernard Arnault is 75 years 1 Month(s) 20 day(s) old. Every person searched that what is the Country, Nationality and Continent of Bernard Arnault? His Country name is France, Nationality is French and Europe Continent. Always came question from mind that What religion does Bernard Arnault belong to? He belong to Christian Religion.

Bernard Arnault Height , Weight and Physical Stats:

Do you want to know about Physical Stats of Bernard Arnault? Then here is the right information for you. The Height of Bernard Arnault is In feet: 6 feet 1 inch, In meter: 1.854m, In centimeter: 185.52cm and In inch: 73 inches & Weight is 81 Kg. Also His eye color is Blue. & hair color is Grey.

Bernard Arnault Education:

Most of the people search on google for Where studied Bernard Arnault? Bernard Arnault studied from college- École Polytechnique & Lycée Faidherbe ; . What is Educational Qualification of Bernard Arnault? So for your kind information, His Educational Qualification is Graduated.

Bernard Arnault Family & Relationship status:

As a Celebrity, many people search on google for His family information. So His father name is Jean Arnault & mother name is Marie-Josèphe Savinel. and sister(s) name Dominique Watine-Arnault. If you need to know marital status of Bernard Arnault, He got married . His wife name is Anne Dewavrin (m. 1973; div. 1990), Hélène Mercier (m. 1991). Also Bernard Arnault son(s) name is Frederic Arnault, Alexandre Arnault, Antoine Arnault and daughter(s) name is Delphine Arnault.

Bernard Arnault Net worth & Luxury:

The most valuable thing, which you must need to know the Bernard Arnault Net Worth & Luxury information. According to our analysis, Wikipedia, Forbes & Business Insider: The Net Worth of Bernard Arnault is around $208 Billion USD that means 208k Million US dollars. Check the below table for more details about His Luxury information.

Career

He was educated at the Lycée Maxence Van Der Meersch in Roubaix and the Lycée Faidherbe in Lille. In 1971, he graduated from the École Polytechnique, France's leading engineering school, and began work for his father's company. Three years later, after he convinced his father to shift the focus of the company to real estate, Ferret-Savinel sold the industrial construction division and was renamed Ferinel. Following the acquisition of a textile company and relocation of its headquarters, the company renamed the real estate branch to the George V Group. The real estate assets were later sold to Compagnie Générale des Eaux (CGE), eventually becoming Nexity.

1971–1987: Professional start

He began his career in 1971, at Ferret-Savinel, and was its president from 1978 to 1984. In 1984, Arnault, then a young real estate developer, heard that the French government was set to choose someone to take over the Boussac Saint-Frères empire, a textile and retail conglomerate that owned Christian Dior.

With the help of Antoine Bernheim, a senior partner of Lazard Frères, Arnault acquired the Financière Agache, a luxury goods company.[12] He became the CEO of Financière Agache and subsequently won the bidding war for Boussac Saint-Frères, buying the group for a ceremonial one franc and effectively took control of Boussac Saint-Frères. Along with Christian Dior, Boussac's assets included the department store Le Bon Marché, the retail shop Conforama, and the nappy manufacturer Peaudouce.

After Arnault bought Boussac, he laid off 9,000 workers in two years, after which he acquired the nickname "The Terminator".[11] He then sold nearly all of the company's assets, keeping only the Christian Dior brand and Le Bon Marché department store.[citation needed] By 1987, the company was profitable again and booked earnings of $112 million on a revenue stream of $1.9 billion.[12]

1987–1989: Co-founding and acquisition of LVMH

He worked with Alain Chevalier, CEO of Moët Hennessy, and Henry Racamier, president of Louis Vuitton, to form LVMH in 1987.

In July 1988, he provided $1.6 billion to form a holding company with Guinness that held 24% of LVMH's shares. In response to rumors that the Louis Vuitton group was buying LVMH's stock to form a "blocking minority", Arnault spent $600 million to buy 13.5% more of LVMH, making him LVMH's largest shareholder. LVMH had been created on the premise that the conglomerate would be too large for a single hostile raider. However, the premise failed to take into account internal takeover attempts. The fault became too large to ignore when Arnault had a differing strategic vision from Henry Racamier, Louis Vuitton's president.

In January 1989, he spent another $500 million to gain control of a total of 43.5% of LVMH's shares and 35% of its voting rights, thus reaching the "blocking minority" that he needed to stop the dismantlement of the LVMH group. He then turned on Racamier, stripped him of his power, and ousted him from the board of directors. On 13 January 1989, he was unanimously elected chairman of the executive management board.

1989–2001: LVMH Initial expansion and growth

After assuming leadership, Arnault led the company through an ambitious development plan, transforming it into one of the largest luxury groups in the world, alongside Swiss luxury giant Richemont and French-based Kering. In eleven years, annual sales and profit rose by a factor of 5, and the market value of LVMH increased by a factor of 15. In July 1988, Arnault acquired Céline. That same year, he sponsored French fashion designer Christian Lacroix to advertise the company's luxury clothing line. LVMH acquired Berluti and Kenzo in 1993, the same year Arnault bought out the French economic newspaper La Tribune.[16] La Tribune never achieved the desired success, despite his 150 million euro[citation needed] investment, and he sold it in November 2007 to buy a different French economic newspaper, Les Échos, for €240 million.

In 1994, LVMH acquired the perfume firm Guerlain. In 1996, Arnault bought out Loewe, followed by Marc Jacobs and Sephora in 1997. Five more brands were also integrated into the group: Thomas Pink in 1999, Emilio Pucci in 2000 and Fendi, DKNY and La Samaritaine in 2001.

In the 1990s, he decided to develop a center in New York to manage LVMH's presence in the United States. He chose Christian de Portzamparc to supervise this project. The result was the LVMH Tower that opened in December 1999. That same year, Arnault turned his eyes on Gucci, an Italian leather goods company, which was run by Tom Ford and Domenico De Sole. He discreetly amassed a 5 percent stake in the company before being detected. Gucci responded hostilely and called it a "creeping takeover." Upon being noticed, Arnault upped his stake to 34.4 percent while insisting he wanted to be a supportive and unassertive stakeholder. De Sole proposed that in return for board representation, Arnault would stop increasing his stake in Gucci. However, Arnault refused to accept these terms. De Sole discovered a loophole that allowed him to issue shares with only board approval, and for every share LVMH bought, he created more for his employees, diluting Arnault's stake. The fight dragged on until settlement in September 2001. After the legal ruling, LVMH sold its shares and walked away with $700 million in profit.

In 1998, with businessman Albert Frère, Arnault purchased Château Cheval Blanc in a personal capacity. LVMH acquired Arnault's share in 2009[24] to add to the group's other wine property Château d'Yquem.

From 1998 to 2001, Arnault invested in a variety of web companies such as Boo.com, Libertysurf, and Zebank through his holding Europatweb. Groupe Arnault also invested in Netflix in 1999.

2001–present: Increasing success and profitability

In 2007, Blue Capital announced that Arnault owned jointly with the California property firm Colony Capital 10.69% of France's largest supermarket retailer and the world's second-largest food distributor Carrefour.

In 2008, he entered the yacht business and bought Princess Yachts for 253 million euros. He subsequently took control of Royal van Lent for an almost identical amount.

From 2010 until 2013, Arnault was a member of the Board of Advisors of the Malaysian 1MDB fund.

On 7 March 2011, Arnault announced the acquisition of 50.4% of family-owned shares of the Italian jeweler Bulgari, to make a tender offer for the rest, which was publicly owned. The transaction was worth $5.2 billion. In 2011, Arnault invested $641 million in establishing LCapitalAsia. On 7 March 2013, National Business Daily reported that mid-priced clothing brand QDA would open stores with the assistance of Arnault's private equity firm LCapitalAsia and Chinese apparel company Xin Hee Co., Ltd. in Beijing. In February 2014, Arnault entered into a joint venture with the Italian fashion brand Marco De Vincenzo, taking a minority 45% stake in the firm. In 2016, LVMH sold DKNY to G-III Apparel Group.[38] In April 2017, Arnault announced the acquisition of Christian Dior haute couture, leather, both men and women's ready-to-wear, and footwear lines, which integrated the entire Christian Dior brand within LVMH.

By January 2018, Arnault had led the company to record sales of €42.6 billion in 2017, 13% over the previous year, as all divisions turned in strong performances. That same year, the net profit increased by 29%.[40] In November 2019, Arnault planned to acquire Tiffany & Co. for approximately US $16.2 billion. The deal was expected to close by June 2020.[41] LVMH then stated in September 2020 indicating that the takeover would not proceed and that the deal was "invalid" because Tiffany handled the business during the COVID-19 pandemic.[42] Subsequently, Tiffany filed suit against LVMH, asking the court to compel the purchase or to assess damages against the defendant; LVMH planned to counter sue, alleging that mismanagement had invalidated the purchase agreement.[43] In mid-September 2020, a reliable source told Forbes that the reason for Arnault's decision to cancel the Tiffany purchase was purely financial: Tiffany was paying millions in dividends to shareholders despite a financial loss of US$32 million during the pandemic. Upon examination of financial records, Arnault discovered that some US$70 million had already been paid out by Tiffany, with an additional US$70 million scheduled to be paid in November 2020.[44] LVMH filed a counterclaim against the court action commenced by Tiffany; a statement issued by LVMH blamed Tiffany's mismanagement during the pandemic and claimed that it was "burning cash and reporting losses".[45] In late October 2020, Tiffany and LVMH agreed to the original takeover plan, though at a slightly reduced price of nearly $16 billion, a minor reduction of 2.6% from the aforementioned deal. The new deal reduced the amount paid per share by LVMH from the original price of $135 to $131.50.[46] LVMH completed the purchase of Tiffany in January 2021.

Under Arnault's leadership, LVMH has grown to become the largest company by market capitalization in the eurozone,[48] with a record of 313 billion euros ($382 billion) as of May 2021.[49] Arnault has promoted decisions towards decentralizing the group's brands as a business strategy. As a result of these measures, brands under the LVMH umbrella such as Tiffany are still viewed as independent firms with their history.

Art collection

His collection includes work by Picasso, Yves Klein, Henry Moore, and Andy Warhol. He was also instrumental in establishing LVMH as a significant patron of art in France.[52] The LVMH Young Fashion Designer was created as an international competition open to students from fine-arts schools. Every year, the winner is awarded a grant to support the creation of the designer's label and with a year of mentorship.

From 1999 to 2003, he owned Phillips de Pury & Company, an art auction house, and bought out the first French auctioneer, Tajan. In 2006, He started the building project of the Louis Vuitton Foundation. Dedicated to the creation and contemporary art, the building was designed by the architect Frank Gehry. The Foundation's grand opening at the Jardin d'Acclimatation Paris was held on 20 October 2014.

Awards and honours

  • Grand Officier of the Légion d'Honneur (France, 14 July 2011)
  • Commandeur of the Ordre des Arts et des Lettres (France)
  • Grand Officer of the Order of Merit of the Italian Republic (Italy, 2006)
  • Medal of Pushkin (Russia, 2017)
  • Honorary Knight Commander of the Most Excellent Order of the British Empire (UK, 2012)
  • The Woodrow Wilson Award for Global Corporate Citizenship (2011)
  • The Museum of Modern Art's David Rockefeller Award (March 2014)

Bernard Arnault Favorite Things:

Some of people want to know about Bernard Arnault's' hobbies and favorite things. Bernard Arnault's' hobbies is Reading, Listening to music favourite colors is Blue.

FAQ:

What is the profession of Bernard Arnault?

His profession is Businessman, investor and art collector.

What is the real name of Bernard Arnault?

His real name is Bernard Jean Étienne Arnault.

Where was Bernard Arnault Born?

He was born in Roubaix, France.

What is the Date of Birth of Bernard Arnault?

The date of birth is 05 May, 1949 (Thursday) of Bernard Arnault.

Who are parents of Bernard Arnault?

His parents are Jean Arnault & Marie-Josèphe Savinel

Who are siblings of Bernard Arnault?

His siblings are Dominique Watine-Arnault

Who is wife of Bernard Arnault?

His wife name is Anne Dewavrin (m. 1973; div. 1990), Hélène Mercier (m. 1991).

Who are childrens of Bernard Arnault?

His childrens are Frederic Arnault, Alexandre Arnault, Antoine Arnault & Delphine Arnault

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