Wall Street Journal: Being LVMH’s Bernard Arnault
“Arnault’s recipe has been consistent: hire designers who can draw attention and forge a brand identity, pour money into advertising and stores and buy back licenses lest they cheapen the brand.”
In this comprehensive feature with one of the fashion world’s richest and most influential members, the Wall Street Journal peers into the life of Louis Vuitton Moët-Hennessy (LVMH) chairman and majority stakeholder Bernard Arnault. Based on the current economical landscape, there is some focus on that aspect which goes into Arnault’s predictions that LVMH is in a great position regardless of downturn with massive emerging markets in countries such as India, Russia and China. As well, Arnault’s “strategy he embarked upon—betting that diversification among products and regions would allow one brand to sparkle when another slumps—may turn out to be invaluable.” However, a softer side of the article looks to his place as a family man and the influence of his wife over some of his fashion decisions. All in all, a sense of the man’s personality and approach undoubtedly answers questions regarding how the LVMH business is run and insights into his philosophies. One of his greatest assets has been the ability “to hire raw design talents like Galliano at Dior, Alexander McQueen at Givenchy and Marc Jacobs at Louis Vuitton” and provide them great creative freedom to work their magic. The whole article can be seen here. As well a visual break-down of exactly what falls on Bernard Arnault’s plate is illustrated via a complicated web of brands and ownerships. Thanks to Sky Gellaty for the tip.