Andrea Felsted, Columnist

Sorry, Louis Vuitton, Cartier Is the New Bling Kingmaker

A deal with Gucci owner Kering would transform the luxury landscape.

April 1, 2021 at 5:30 AM UTC

Andrea Felsted is a Bloomberg Opinion columnist covering consumer goods and the retail industry. Previously, she was a reporter for the Financial Times.

Is it time to pounce?
Photographer: Pascal Le Segretain/Getty Images Europe

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Bernard Arnault, the founder and chief executive officer of LVMH Moet Hennessy Louis Vuitton SE, is usually regarded as the most powerful man in luxury.

But right now he’s not the kingmaker. Instead, that title goes to Johann Rupert, chairman of Swiss group Cie Financiere Richemont SA, which owns brands like Cartier and Jaeger-LeCoultre. He holds the cards to consolidating the world of high-end fashion, watches and jewelry — and the industry is watching to see what hand he’ll play.