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Biography of Bernard Arnault: Louis Vuitton CEO Crazy Rich

Biography of Bernard Arnault: Louis Vuitton CEO Crazy Rich

For those of you who like the world of fashion, you must be familiar with the biography of Bernard Arnault. Collector and CEO of Louis Vuitton, the biggest fashion brand in Paris, that figure is Bernard Arnault. Had several times become the richest person no.1 in the world beat the CEO of Amazon and Zara.

A Brief Profile of Bernard Arnault’s Life

Not many know how the life of this successful businessman in his childhood. Or family background, because all of that is now covered by his success in building a fashion business empire that is worldwide, even made a mecca by artists in the world.

Let’s review a bit of the past of a Bernard Arnault:

Childhood Life

Bernard Jean Etienne Arnault was born on March 5, 1948 in the French village of Roubaix. His father, Leon Arnault, was a collector of the Ferret-Savinel company. Meanwhile, her mother Marie-Josephe Savinel is a fashionable woman who is very interested in Dior’s fashion.

No wonder the blood of art ran in little Bernard. After graduating from the Ecole Polytechnique in 1971, Arnault began working for his father’s company Ferret-Savinel. He plans to enlarge the market segment and develop it, as evidenced by 1976 the company’s assets rose dramatically.

Early Career of a World Class Businessman

Here are some descriptions related to the career of a famous figure, namely Bernard Arnault:

The Beginning of Dior’s Ownership

Paris has always been a fashion mecca in the world, Arnault sees this as a great opportunity for him to start moving, starting from when he started working in his father’s company.

After making great progress, Arnault did not stop and was complacent and he began to work with big brands. In 1984 he succeeded in acquiring Financiere Agache, a luxury goods manufacturer as well as being CEO.

Then took over Boussac Saint-Freres with its products, namely Christian Dior, department stores, baby diapers, and many more. At that time they were in trouble. Now the assets have been sold and only Dior and Le Bon Marche are left.

LVMH

After succeeding with Christian Dior, not many know of his struggle to save LVMH in its disbandment plan. Gradually Arnault gradually crawled into the largest shareholder with 43% ownership which made him sit as Chairman.

Since his leadership at LVMH Arnault is really ambitious to make LVMH products sold in the market. Proven in the next eleven years total sales increased by six times and market capitalization up to 15 times. It’s a fantastic achievement.

Career Progress

Do not stop being complacent, after successfully making LVMH products as independent that has an important history, Arnault continues to explore other brands by claiming to be his side. July 1988 was a period in which his career was getting up and skyrocketed.

Some of the products that he has acquired include Celine, a shoe company, then Kenzo, a company from Japan, Les Echos, Guerlain, Marc Jacobs and Sephora in 1977 and many other well-known Paris products under LVMH.

2. Care for Social Life

A Bernard Arnault is also of course like an ordinary human being, he doesn’t spend all his days thinking about business.

Besides being known as the richest person who replaced Bill Gates’ current position, Arnault is known to be a generous person and likes to donate some of his wealth to the social life around him.

Together with his company, Bernard has now formed many charities that focus on the welfare of the lives of people who are less fortunate, poured funds for scholarships, and Arnault also contributed to scientific and medical research.

3. World Prestigious Awards

Known as a generous and noble-hearted person, his kindness that runs smoothly has earned him various prestigious award achievements that show his qualities. Here’s the review:

Commandeur de la Legion d’honneur

He received this prestigious award on February 10, 2007. Unmitigated, Bernard received this highest award directly from the President of France. He became the second man after Napoleon Bonaparte on May 19, 1802.

Bernard is considered to have given honor to his homeland by making Paris the center of the world’s fashion mecca.

Proud to have built a business empire that introduced Parisian culture without causing war, he also saved many companies during his precarious times.

Biography of Bernard Arnault: Louis Vuitton CEO Crazy Rich

Honorary Knight Commander Of The Excellent Order Of The British Empire

Then in 2012 he managed to make history again, by being given an award that was included in the order of knights from the country or kingdom of Great Britain. It was King George V himself who started giving since 1917.

There are five levels in it and are intended for civilians and military. However only the top two ranks namely Knight or Dame Grand Cross and Dame Commander as bestowed upon Arnault are entitled to put the title Sir or Dame before their names.

David Rockefeller Award from the Museum of Modern Art

His position as Chairman and CEO of LVMH – Louis Vuitton made him the world’s spotlight, especially art workers. Finally in 2014, he obtained an award from the Museum of Modern Art, this is a different title than before.

Located in Midtown Manhattan, New York City, United States. This museum is the most modern art place because it shows a display of influential modern art works in the world. The library alone contains more than 300,000 art books and magazines .

4. Another Investment from Bernard Arnault

Dominating the fashion world in the early years of technological progress, Bernard Arnault then began to invest his wealth to enter the stock market of several other well-known brands. It has been proven that Arnault has earned passive income from these brands so far.

  • From 1998 to 2001 his investment began in several technology companies such as Libertysurf, Zebank, Boo.com.
  • In 1999 Arnault also entered investing his fortune in Netflix. Until now he is still one of the influential shareholders.
  • Then in 2007 Arnault re-positioned himself as a shareholder of Carrefour as much as 10.69%
  • Then in the following year 2008, Arnault entered expanding into the cruise ship business by buying Princess Yachts for 253 million euros.

Related Post: Biography of Albert Einstein: The Legendary Scientist Genius

The Other Side of Bernard Arnault

A successful businessman, Arnault is also active as an art collector who supports various creative activities in Paris.

He has been doing his activities as an art collector since working to help in his father’s company, now he makes LVMH the biggest support for the progress of works in Paris.

One of them is the LVMH Young Fashion Designer as an international competition, this event is usually attended by students from all corners of fine arts schools in the world.

Arnault provides 100% funding to support the creation of independent product designs for the winners.

After knowing Bernard Arnault’s Biography , surely all readers will be very motivated. So what have you been doing all this time to gain success?

 

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