Antoine Arnault, eldest son of LVMH chairman Bernard Arnault, has been named chief executive of Christian Dior, succeeding Sidney Toledano and prompting speculation about a wider succession within the group.
Christian Dior is a listed company that owns the Arnault family’s majority stake in LVMH, the world’s largest luxury group.
The move raises the stature of Antoine Arnault, one of five sons of Bernard Arnault. They all hold senior positions at LVMH, the group behind the fashion houses Louis Vuitton and Christian Dior, as well as dozens of other brands ranging from champagne to five-star hotels.
The most visible of the five, Antoine Arnault, 45, oversees the group’s communications and environmental issues, leading efforts to bolster its reputation.
For the past decade, he has been chief executive of luxury fashion house Berluti, known for polished leather shoes priced at more than $2,000 and bespoke men’s tailoring, as well as chairman of Italian fashion house Loro Piana.
Arnault’s appointment follows a recent change to the family’s investment legal structure to secure long-term control of LVMH, with the Agache holding company, which owns shares in Christian Dior, becoming a joint-stock company.
The brand was incorporated into the LVMH group in 2017 and now owns 41% of LVMH, corresponding to 56% of the voting rights in the group.
Bernard Arnault and his family briefly claimed the title of the world’s richest people earlier this week, but have since returned to second place behind Elon Musk, with a personal fortune of $185.3 billion, according to Forbes.
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