Is LVMH owner prepping son Alexandre Arnault to take over?

Alexandre Arnault, son of Billionaire LVMH proprietor Bernard Arnault, exits Tiffany for his new function as deputy CEO of the wine and spirits division of LVMH. Because the Bernard youngsters transfer up the ranks of the enterprise in a latest reshuffling, we’re intently observing to see who may take over from their 75-year-old father. 

32-year-old Alexandre Arnault will take up the function at Moët Hennessy in February after 4 years at New York-based jeweller Tiffany, which LVMH purchased in 2021. Previous to this, he headed the luxurious baggage model Rimowa.

Alexandre Arnault took to X writing: “I’m excited to step into a brand new chapter inside LVMH’s Wines & Spirits division, embracing this foundational a part of our Group’s heritage. My coronary heart, nevertheless, will ceaselessly stay a shade of Tiffany blue — these years have formed the particular person and chief I’m right this moment.”

Bernard Arnault has ensured all 5 of his youngsters have roles throughout the group, which owns Louis Vuitton, Dior and Givenchy to call just a few.

Latest appointments, comparable to Alexandre’s, are being intently watched for indications of who may at some point take over from their 75-year-old father.

Frédéric Arnault, together with Alexandre, additionally joined the board this yr after he was appointed Chief Govt Officer of LVMH Watches, to drive the watchmaking class.

The pair adopted within the footsteps of their two elder siblings. Delphine Arnault, who’s 49 years previous, grew to become chairman and CEO of Christian Dior Couture in February final yr. Antoine Arnault, who’s 47 years previous, is Head of Communications, Picture and Surroundings for LVMH and Chairman and CEO of LVMH holding firm Christian Dior SE. Jean, the youngest sibling, continues to be ready on his seat.

These modifications are half of a bigger reshuffling on the group because the elder era of the household enterprise is stepping again from their high-flying roles.

The rejig comes as LVMH feels the brunt of a slowdown within the luxurious sector. Final month it reported revenues of £50.8 billion (€60.8 billion) for the primary 9 months of 2024, down 2% on a reported foundation.

LVMH stated it stays “assured” and can proceed to pursue its technique targeted on the event of its manufacturers, pushed by a “sustained coverage of innovation and funding in addition to by a relentless quest for high quality in its merchandise, their desirability and their distribution”.