In a significant development for the luxury industry, Bernard Arnault, the billionaire owner of LVMH (Moët Hennessy Louis Vuitton), has made key changes to the executive leadership at his luxury conglomerate. On Thursday, LVMH announced that Alexandre Arnault, his third son, will assume the role of Deputy CEO for Moët Hennessy, starting in February 2025. This major appointment is part of a broader restructuring of the company’s leadership, which also includes six other changes within LVMH’s executive board.
The Arnault Family’s Influence on LVMH
LVMH, a multi-billion-dollar empire, is known for its portfolio of prestigious brands, including Louis Vuitton, Christian Dior, Tag Heuer, and Sephora. The company’s control remains firmly in the hands of Bernard Arnault and his family. All five of his children hold key roles within the company, underscoring the Arnault family’s ongoing commitment to running LVMH. Alexandre Arnault’s appointment at Moët Hennessy, the wine and spirits division of LVMH, marks a pivotal moment in the family’s succession plan.
Alexandre Arnault’s New Role
Alexandre, currently serving as the Executive Vice President of Products and Communications at Tiffany & Co. (acquired by LVMH in 2021), will now focus on Moët Hennessy’s growth and expansion. His new position reflects the Arnault family’s long-term strategy of grooming the next generation to take over key divisions within LVMH. Alexandre will work closely with Jean-Jacques Guiony, the newly appointed Chairman and CEO of Moët Hennessy, as the two leaders aim to strengthen the brand’s position in the global luxury market.
The Family’s Expanding Role
The leadership changes are part of a broader shift within LVMH, which has seen increasing involvement from Bernard’s children in recent years. In April 2024, Bernard announced that two of his sons, Alexandre and Frédéric, would join the company’s board of directors, bringing the total number of Arnault family members on the board to four out of five children. Delphine Arnault, Bernard’s eldest daughter, serves as CEO and Chairman of Christian Dior Couture and has been part of LVMH’s board since 2003. Antoine Arnault, another son, oversees the brand image and environment of LVMH and also holds a position on the board.
Speculation About Succession
As the Arnault family continues to assume greater leadership roles at LVMH, speculation about who will eventually succeed Bernard as CEO grows. Bernard, who has expressed the importance of choosing the best person for the job, has refuted any claims of a cutthroat family power struggle similar to the drama depicted in the television show “Succession.” Instead, he has emphasized that his successor could come from within the family or outside, with the goal of ensuring LVMH’s continued success.
A Strategic Move for the Future
Bernard’s appointment of Alexandre as Deputy CEO of Moët Hennessy is seen as part of a long-term strategy to secure the future leadership of LVMH. The Arnault family’s careful, calculated approach to succession reflects the importance of maintaining the brand’s prestige and global influence for generations to come. With this latest move, it’s clear that the Arnaults are positioning themselves for continued dominance in the luxury goods market, ensuring that LVMH remains at the top of the industry’s hierarchy for years to come.
