The eldest son of Antoine Arnault will head LVMH Christian Dior SE
2022.12.09 05:19
The eldest son of Antoine Arnault will head LVMH Christian Dior SE
Budrigannews.com – Antoine Arnault, the eldest son of Bernard Arnault, chairman and chief executive officer of LVMH, has been appointed chief executive of the family holding company Christian Dior SE. He will succeed Sidney Toledano, a veteran executive at LVMH.
The majority of the Arnault family’s stake in LVMH, the world’s largest luxury group, is held by Christian Dior SE, a listed company.
One of Bernard Arnault’s five children, Antoine Arnault, now holds senior positions at LVMH, the company behind Christian Dior and Louis Vuitton fashion houses as well as numerous other labels from champagne to five-star hotels.
Antoine Arnault, 45, is the most well-known of the five. He is in charge of the group’s communications and environmental issues and is driving efforts to improve its reputation.
The tall, dark-haired executive organizes events like factory and workshop public tours and frequently takes the stage to discuss the company’s environmental initiatives.
He has been chairman of Italian label Loro Piana and chief executive of high-end label Berluti for the past ten years. Berluti is known for its bespoke tailoring for men and buffed leather shoes that sell for more than $2,000 each.
He graduated from business school and has served on the board since 2006.
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Arnault’s appointment comes after the holding company Agache, which owns shares in Christian Dior SE, changed its legal structure on Tuesday to become a joint-stock partnership in order to guarantee the family’s long-term control of LVMH.
Bernard Arnault, 73, is chairman and CEO of LVMH. He hasn’t said who he wants to lead the sprawling luxury empire he built by buying Christian Dior.
Christian Dior SE now owns 41% of LVMH, which is equivalent to 56% of the voting rights in the group. In 2017, the fashion label was incorporated into the LVMH group.
From their father’s first marriage, Antoine Arnault and his older sister Delphine, 47, are children. The group’s board of directors includes both of them.
Tiffany & Co. (NYSE:) employs 30-year-old executive Alexandre Arnault. while TAG Heuer’s chief executive officer is Frederic Arnault, a 27-year-old. Jean Arnault, 24, the youngest, is in charge of Louis Vuitton’s watches division’s marketing and product development.
