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In a ‘Succession’-style move, even more of LVMH CEO Bernard Arnault’s kids are nabbing pivotal roles, while their Gen Z brother faces big test
Fortune
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4/24/2024
LVMH CEO Bernard Arnault keeps adding his children to the company board, harkening back to the moves of media titan Logan Roy in HBO’s Succession.
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Tech
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00:00
LVMH CEO Bernard Arnault keeps adding his children to the company board,
00:04
a similar strategy to media titan Logan Roy and HBO's Succession.
00:09
Alexander Arnault and Frederic Arnault just joined the company's lineup
00:13
after shareholders approved their nominations.
00:15
They join the ranks of their three other siblings in expanding control in LVMH's empire,
00:20
including the fresh-faced Jean Arnault, the head of Louis Vuitton's watch division,
00:25
who was born in 1998.
00:27
Although Jean doesn't hold a position on the company's board,
00:31
he has been involved in the family business since 2017,
00:34
when he was a Louis Vuitton sales associate.
00:36
He's the director of marketing and development for the watches division.
00:40
The average Louis Vuitton watch costs $20,000,
00:43
and Jean's big test is whether he can convince Gen Z that the price tags are worth the investment.
00:49
But Jean is keeping with the philosophy as traditional and conservative
00:52
as the watch collecting industry as a whole.
00:55
Luxury watches remain almost exclusively for the ultra-wealthy.
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