Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Bernard Arnault
Investors and Entrepreneurs

Bernard Arnault: biography of the president of LVMH corporation

08.09.2020
2 min read

Bernard Arnault: biography of the billionaire and his business strategy

French businessman Bernard Arnault is one of the richest people on the planet. He owns a group of companies Louis Vuitton Moët Hennessy and 101.8 billion dollars. Interesting biography of Bernard Arnault, which shows how important it is to take risks on the way to the goal.
French businessman was born in Rube, his father owned a small construction firm. He wanted his son to follow his steps and after graduating from polytechnic school Bernard started working in the family business. A few years later, the young man decided to risk everything and sold the firm, which he told his father only when the deal was completed. After that Arnault moved to the U.S. to find his calling and implement it. Here he studied business basics, accumulated theoretical knowledge to create his own business.
When he returned home, Bernard did not know exactly where to direct his potential and the resulting theoretical basis, but everything worked out by itself. The Boussac textile conglomerate went bankrupt and Arnault decided to invest in it. The young man had 15 million dollars from the sale of the family business, and took the rest of the money from the bank by taking out a loan. So Bernard managed to buy Boussac, ahead of Louis Vuitton, which also wanted to buy the conglomerate shares.

Bernard Arnault

The main goal at this stage of professional activity for Arno was to increase its capital. He managed to do it by selling assets, but over time the businessman realized that it was much more profitable to work in the future. Then Bernard changed his strategy and decided to invest in the creation of luxury goods. Having already had the Christian Dior brand, which was part of Boussac, Arnault acquired a 24% stake in LVMH Corporation, which was owned by such famous brands as Moët Champagne, Hennessy cognac and Louis Vuitton fashion house. Then, within a short period of time, the businessman managed to acquire a controlling interest and become a management company. Bernard did not just aim for these brands. His idea was to unite luxury brands to control the global market for premium products.
After Arnault became the head of LVMH, he changed the top management team and decided to make a complete reboot of the company. Now one of the main directions was to win products from a large number of countries. This strategy worked perfectly in the 90s, when a cult of luxury was formed in society. The merger policy also continued, soon the Givenchy, Chateau d’Yquem, Sephora and other brands joined LVMH.
Now Bernard Arnault is the richest man in France, and children help him to run the built empire.

Tags: Investors and Entrepreneurs
0
Previous Post Macquarie Group: the history of the largest banking holding company in Australia Next Post India's GDP growth reached a minimum: reasons for the country's economic slowdown

You Might Also Like

William O'Neill
Investors and Entrepreneurs
William O’Neill – author of a unique trading strategy
10.06.2020
William Sharpe
Investors and Entrepreneurs
Outstanding economist William Sharpe and his contribution to market development
26.01.2021
Amar Bose
Investors and Entrepreneurs
Amar Bowes: a scientist who has made his passion a profitable business
25.07.2021
Laurene Powell Jobs
Investors and Entrepreneurs
Laurene Powell Jobs: the woman who didn’t shadow her husband
26.06.2023
Chuck Feeney-2
Investors and Entrepreneurs
Businessman Chuck Feeney: the man who gave the world Duty Free
21.01.2022
Fred Smith
Investors and Entrepreneurs
Fred Smith: the man who gave the world express delivery
20.06.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Spokesperson
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Spokesperson
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Spokesperson
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Spokesperson
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics