daily economic news
2023-01-14 00:34:25
Edited by Cheng Peng Du Yu Yi Qijiang
According to Jimu News, citing a BBC report on January 12, Bernard Arnault, CEO of the luxury goods industry giant LVMH Group, has appointed his daughterDelphine Arnault is the head of her fashion brand Dior.
Screenshot of relevant reports (Source: BBC)
On January 11 local time, the LVMH Group issued an announcement announcing the adjustment of the management of its two major brands, Dior and Louis Vuitton, which aroused the attention of the outside world. Pietro Beccari, who has been at the helm of Dior for the past four years, will succeed Michael Burke as chairman and chief executive of Louis Vuitton, according to the announcement.
It is worth noting that the daughter of LVMH Group CEO Bernard Arnault,The 47-year-old Delphine Arnault was also promoted in this group management reshuffle and was appointed CEO of Dior.
According to reports, before the group management reshuffle, Arnault’s eldest son Antoine Arnault had just been appointed as the head of the family holding company in December last year.
According to the Global Times, Le Figaro reported that the personnel change was“LVMH rare large-scale high-level reshuffle”.The British “Guardian” stated that Arnault is strengthening his family’s control over the group, and many people in the fashion industry believe thatThere will be an “inheritance battle” between Delphine and her younger brother Antoine, possibly joined by other siblings, as Arnault’s five children currently hold management positions in the group.Still, it may take some time for an heir to take over the family business, as the group amended its articles of association last year to allow the chief executive to run the company until he is 80.
On December 14, 2022, Bernard Arnault, chairman of the LVMH Group, officially surpassed Musk and became the richest man on the Bloomberg Billionaires List with a net worth of US$165 billion. This is the first time he has topped the rich list.
The 73-year-old Arnault is the helm of the luxury goods giant LVMH Group, which owns 75 brands including Louis Vuitton, DIOR, and Tiffany & Co., with a group valuation of US$170.8 billion. Paris-based LVMH recorded sales of 64 billion euros last year, rebounding sharply from the trough of the new crown pandemic in 2020. Arnault and his family own about 48% of the company.
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Cover image source: Screenshot of BBC report
The daily economic news is synthesized from the World Wide Web, Jimu News, and Jingjing.com