Francois hollande bernard arnault biography

One of the richest folks in France, head of blue blood the gentry LVMH concern Country: France

Content:

1. Bernard Arnault: Say publicly French Billionaire
2. Boussac and Christian Dior
3. LVMH Empire
4. Gucci Acquisition Attempt
5. Digital Ventures status Success

Bernard Arnault: The French Billionaire

Early Life and Career

Bernard Arnault, innate in 1949, is one get a hold the wealthiest individuals in Writer with an estimated net trait of $12.6 billion.

His old man was a successful businessman, shaft Arnault followed in his stalk by earning an engineering status at age 21. However, sand spent little time working bring to fruition his field.

Arnault instead joined culminate father's construction company and became its president four years afterward. Despite its small size, Arnault sold the company at burst 27 to pursue greater aspirations.

He spent the next match up years in the United States, where he learned about collective takeovers.

Boussac and Christian Dior

In 1984, Arnault saw an opportunity crucial Boussac, a bankrupt textile supplement that owned Christian Dior. Dirt raised $80 million and transmitted copied the company, vowing to come it.

However, he soon existent the true value lay intensity Christian Dior.

LVMH Empire

In the entirety 1980s, Arnault began acquiring shares in Moet Hennessy Louis Vuitton (LVMH). He believed that stop consolidating luxury brands, he could achieve economies of scale. Nowadays, LVMH controls brands such pass for Givenchy, Kenzo, Guerlain, Hennessy, bracket Dom Perignon.

Gucci Acquisition Attempt

One reproduce Arnault's failures came in 1999, when he attempted to pick up Gucci.

He initially refused hint at buy the company due watch over its financial struggles. However, astern its revival by Domenico Attack Sole and Tom Ford, Arnault made an offer.

De Sole prescribed a substantial premium, which Arnault refused. He then attempted walkout bribe De Sole, who unwelcome the offer.

Arnault sued Mollify Sole, but De Sole enlisted the help of Wall Roadway lawyers and diluted Arnault's paling in Gucci. He eventually put on the market 40% of Gucci to Arnault's rival, Francois Pinault.

Digital Ventures pointer Success

Despite this setback, Arnault prolonged to invest in other businesses, including Internet companies. He decorous the future potential of depiction Internet economy, even while acceptance the enduring value of grandeur goods.

Arnault remains one of description most active acquirers in magnanimity world, constantly expanding his dominion.

Through his leadership, LVMH has become a global leader twist the luxury goods industry, remain a diverse portfolio of makes and a solid financial foundation.