LVMH Chairman Bernard Arnault is worth $113 billion. Here are 17 of his luxury conglomerate’s iconic brands.
- LVMH is the world’s largest luxury goods conglomerate and is best known for owning brands such as Louis Vuitton and Givenchy.
- The conglomerate is also acquiring jeweler Tiffany & Co. for $15.8 billion, marking the luxury sector’s most expensive deal in history. The deal is set to close early next year.
- LVMH’s portfolio already includes 75 different brands that range from wines and spirits to leather goods and cosmetics.
- Bernard Arnault, chairman and CEO of LVMH, controls about half the company and has a net worth of $113 billion, per Bloomberg. He is currently the richest person in France and the fourth-richest person in the world.
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LVMH, which owns brands such as Louis Vuitton and Dior, is the world’s largest luxury goods conglomerate, with revenue reaching about $59 billion in 2019.
In 2020, the company, like the rest of the luxury sector, was economically impacted by the pandemic and store closures throughout the world. In the first nine months of the year, it recorded revenue of €30 billion ($37 billion), down 21% from this time last year.
But in a press statement, the company said it was showing “significant improvement” in its third quarter. Its fashion and leather goods division, for which organic revenue declined by 11% over the first nine months of the year, saw a double-digit rebound of 12% growth in the third quarter.
When news of a COVID-19 vaccine first broke, LVMH shares skyrocketed, briefly making its chairman and CEO, Bernard Arnault, the second-richest man in the world. A few days after the Pfizer vaccine was announced, Arnault added $7 billion to his wealth. He is now the fourth-richest person in the world, with a net worth of $113 billion.
LVMH has also been in the news this year after it threatened to call off its multibillion-dollar acquisition of US jeweler Tiffany and Co., first announced for $16.2 billion in 2019, but reduced to $15.8 billion in the fall after a lengthy dispute between the two firms. The deal is still the largest and most expensive in the luxury sector and is set to close in early 2021.
This means Tiffany will join the other 75 brands owned by LVMH, but it won’t necessarily be the conglomerate’s most iconic — keep reading to see 17 of the most iconic brands the luxury giant currently owns, ranked in chronological order of LVMH’s acquisition date.
