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Bernard Arnault appointed Delphine Arnault to head Dior

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The world’s richest man, Bernard Arnault, has chosen his daughter Delphine as CEO of Dior, LVMH has announced. It is the second largest brand in the fashion empire.

Arnault is the CEO, chairman and majority shareholder of the entire LVMH group. Currently, the concern includes brands such as Louis Vuitton, Tiffany, Givenchy and Moet Hennessy.

LVMH shares are valued at around €380 billion. The company’s shares have recently risen by as much as 2 percent to new highs. Stocks of luxury companies got a strong boost after the easing of COVID-19 restrictions Chinawhich is a key market for this segment.

Now, the reins of one of the biggest parts of the fashion empire will be taken over by the billionaire’s daughter, Delphine Arnault. She will become CEO of Dior on February 2. Currently, Arnault’s eldest daughter is the executive vice president of Louis Vuitton and is responsible for the products offered by the concern.

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Delphine ArnaultWireImage/GettyImages

The 47-year-old started working for the family business in 2000. Previously, for two years she gained experience at McKinsey consulting company. She studied at the London School of Economics. LVMH has been on the board since 2003.

– Under the leadership of Delphine, Louis Vuitton products have become even more desirable. As a result, the brand was able to break new sales records. Her keen insight and unparalleled experience will be decisive assets in the development of the Dior brand, said Bernard Arnault.

Last month, Bernard Arnault appointed his son Antoine Arnault as chairman of the holding company that controls 41 percent of the company. capital and 56 percent. voting rights in the LVMH group.

Bernard ArnaultMARTIN BUREAU / AFP POOL MAXPPP / PAP

“Each of Bernard Arnault’s five children currently holds high positions in the French concern. However, they still have to wait for the succession. Last year, the rules of the concern were changed and the period for which the chief executive may hold his position from 75 to 80 years” – writes “The Guardian”.

Bernard Arnault overtook Elon Musk last month to become the richest person in the world. His fortune is estimated at $178 billion.

Main photo source: WireImage/GettyImages



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