Antoine Arnault, a prominent figure within the LVMH Moet Hennessy Louis Vuitton luxury empire, is gracefully transitioning from his role as Chief Executive Officer of Berluti, the renowned shoemaker. This move is part of a broader reshuffling of top executives, a development that is expected to fuel discussions about the future leadership of the world’s preeminent luxury conglomerate.
Antoine Arnault, the eldest son of billionaire Bernard Arnault, will continue to serve as the Chairman of Berluti. However, effective January 1, he will pass the baton of CEO to Jean-Marc Mansvelt, who is making the transition from LVMH’s jewelry brand, Chaumet.
This announcement is likely to reignite speculations and conversations concerning the succession plan within the luxury giant, which is currently presided over by Bernard Arnault, a 74-year-old titan who ranks as the world’s second-wealthiest individual, according to the Bloomberg Billionaires index.
In addition to his ongoing role as Chairman at Berluti, Antoine Arnault will retain his position as Chairman at Loro Piana, the prestigious cashmere specialist. He will also continue overseeing crucial aspects related to brand image and environmental initiatives within the LVMH group. Furthermore, the 46-year-old executive will remain in his roles as Vice Chairman and CEO of Christian Dior SE, the holding company that serves as the Arnault family’s vehicle for exerting control over LVMH.
Despite these recent changes, there are no indications that Bernard Arnault is stepping away from the helm anytime soon. LVMH made the noteworthy decision last year to raise the age limit for its Chief Executive Officer, thereby allowing the family patriarch to remain in charge until he reaches the age of 80.
Berluti, one of LVMH’s 75 illustrious brands, may not occupy a top position in terms of revenue, according to estimates from HSBC. LVMH, as a policy, refrains from disclosing revenue breakdowns for individual labels. Insiders, however, suggest that Berluti’s sales are projected to reach approximately €300 million ($327 million) this year. LVMH, understandably, refrained from commenting on these figures.
The storied Parisian shoemaker is renowned for its iconic €2,090 leather monk shoes and boasts a rich history of footwear gracing the feet of luminaries such as actor Marcello Mastroianni and artist Andy Warhol. Berluti’s offerings extend beyond footwear to encompass a diverse range of menswear, luxury accessories, and opulent suitcases.
In a recent notable development, Berluti proudly announced its role as the official dresser for the French team at the forthcoming opening ceremonies of the summer Olympic and Paralympic games in Paris. LVMH, demonstrating its unwavering commitment, is set to invest €150 million as an official sponsor of this grand event.
Antoine Arnault’s sister, Delphine Arnault, aged 48 and the eldest of the five Arnault siblings, holds the reins at Dior, LVMH’s second-largest fashion brand following the iconic Louis Vuitton. Alexandre Arnault, aged 31, spearheads product and communications at Tiffany & Co, while Frederic Arnault, aged 29, assumes the role of Chief Executive Officer at the esteemed watch brand, Tag Heuer. The youngest of the Arnault siblings, Jean Arnault, aged 25, is responsible for the development of Louis Vuitton’s watch category.
As part of the comprehensive reshuffling unveiled on Wednesday, Charles Leung, the current CEO of LVMH’s prestigious jewelry label, Fred, will step into the role vacated by Jean-Marc Mansvelt. LVMH has indicated that a successor for Leung will be announced in due course, underscoring the group’s commitment to smooth transitions and strategic leadership.