Bernard Arnault’s hard work is paying off for him and his family. Wednesday, the CEO of LVMH, which owns brands like Givenchy, Fendi, and Louis Vuitton, announced he is putting his daughter in charge of Christian Dior. Delphine Arnault will become the CEO of Christian Dior in February.
Bernard Arnault seems to be doing some reshuffling at his luxury goods empire. When his daughter takes over, Dior’s current CEO, Pietro Beccari, will become the CEO of Louis Vuitton, replacing Michael Burke. Burke will continue to work with LVMH brands, but his new role has yet to be announced to the public.
If you’re looking at an example of a family with generational wealth, the Arnault family is an example to observe. Bernard co-founded the luxury conglomerate in 1987. Since then, the company has grown with several luxury brands. Arnault is now worth $178 billion. Arnault will leave behind a fortune for his children, and to prepare them, he has put them in a position to make their own money.
His daughter Delphine is not the only Arnault child receiving a top title within the company. Arnault’s children hold management positions at brands in the group and have been groomed by senior executives as they move up the ranks. The oldest brother Antoine is the CEO of the LVMH holding company. Alexandre Arnault is in charge of products and communication at Tiffany, and Frederic Arnault is CEO of the brand TAG Heuer. The youngest child, Jean Arnault, is the head of marketing and product development for Louis Vuitton’s watches division.
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