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Luxury’s Allure

Bernard Arnault and Francois Pinault added billions to their fortunes on the prospect of higher luxury-goods sales

The fortunes of French billionaires Bernard Arnault and Francois Pinault jumped a combined $2.8 billion Wednesday, after a Bain & Co. report showcased a revival in luxury-goods sales and surprisingly strong sales among millennial shoppers. Pinault, founder of Gucci-maker Kering SA, added $1.7 billion and is the country’s third-richest person with $26.1 billion, according to the Bloomberg Billionaires Index. Arnault, France’s richest person with $57.2 billion, controls LVMH Moet Hennessy Louis Vuitton SE, maker of Christian Dior perfume and Veuve Clicquot champagne, added $1.1 billion.

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