For decades, France’s LVMH has been the face of luxury for the wealthy who tote Louis Vuitton bags, don Christian Dior clothing, spritz Bulgari perfume and sip Veuve Clicquot Champagne. This week, the world’s dominant luxury group — home to 75 high-end brands across fashion, jewellery, watches and alcohol — will be the face of a global event for the masses : the Paris Olympics, with its billions of viewers around the planet. LVMH chief Bernard Arnault with wife Helene.
The company is playing a pivotal role in the Olymnpics. Credit: AP With a major sponsorship role aimed at burnishing the image of the Games and the French capital, it’s a new chapter in LVMH’s specialty of selling exclusivity at a grand scale under its chair and CEO, Bernard Arnault. Assembling and growing dozens of exclusive labels under one powerhouse roof has put Arnault, 75, at the very top of Forbes’ list of the world’s richest people on multiple occasions, jostling for the top spot with Jeff Bezos and Elon Musk.
With ever-shifting stock-market prices, the three men often trade places. According to Forbes’ real-time billionaires list on Wednesday, Arnault and his family are currently No. 3, with an estimated $US191 billion ($289 billion) fortune.
LVMH’s cosmetics brand Sephora sponsored the Olympic torch relay. Berluti designed France’s opening ceremony uniforms. Jeweller Chaumet crafted the Olympic medals.
Those will rest in cases designed by Louis Vuitton, whose headquarters at 2 Ru.