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Who Will Run Europe’s Luxury Empire After Arnault?
Bernard Arnault built LVMH into a global powerhouse. But consumer headwinds and questions of succession are rising.
Bernard Arnault
Photographer: Ludovic Marin/AFP
LVMH, the owner of Louis Vuitton, is Europe’s most valuable company—so much so that earlier this year it managed to reach a market capitalization of $500 billion, a monumental milestone for the continent.
The insatiable global demand for luxury goods and LVMH’s stellar financial results have thrown the French conglomerate into an ever-brighter spotlight. Its stock market gains have greatly increased the fortune of its controlling shareholder, Bernard Arnault, who is now the world’s second-wealthiest person.