Bernard Arnault is one of the world’s wealthiest men. The French investor, businessman, and CEO of the luxury goods company LVMH recently reclaimed the title over fellow billionaire Jeff Bezos. Arnault’s business acumen and inspiring financial achievements are worthy of attention.
So, considering the impressive accomplishments of this visionary tastemaker, we intend to unravel how this legend came to be in the Bernard Arnault Success Story special. “Luxury is the combination of quality and creativity.”
We believe that ordinary people can choose to become extraordinary. This is why we research and publish the success stories of ordinary people who have accomplished extraordinary achievements.
As such, this page aims to reveal critical insights about Arnault that will provide you with a better understanding of how he came to be so successful.
And maybe, just maybe, you’ll become inspired to do the same. So, if you’re ready to learn from Bernard Arnault’s success story, let’s dive in.
Bernard Arnault’s Success Story:
Bernard Arnault was born to an industrial family in Roubaix, France, in 1949 and graduated from France’s prestigious engineering school, the École Polytechnique. Once he got his degree in engineering, he would start working as an engineer in the construction business his family owned.
After working for his father for close to seven years in the family business, Arnault would eventually rise through the ranks to become the company’s chairman. As chairman, he would successfully run the show for his father for a few years until he moved on to run a holding company known as Financière Agache.
The company was having business problems, and Arnault realized the potential for turning around this failing company, partly due to the strength of one of its brands, Christian Dior.
As such, Arnault seized the opportunity to take on the task of reorganizing the company and successfully reinvigorating it, bringing it back to profitability. One of the strategies Bernard Arnault would employ to succeed in the turnaround was to zero in on having the company focus solely on its luxury goods.
The cornerstone of his holding company was Christian Dior, which he single-handedly brought roaring back to life. At some point, he would sell off the company’s non-luxury assets and start a very aggressive campaign to buy up other luxury brand companies.
Eventually, Arnault took charge of LVMH Mot Hennessy Louis Vuitton, the leading luxury goods group.Since this acquisition, he has positioned the company as the world’s leading luxury brand.
Bernard Arnault’s Enduring Success
Bernard Arnault continues to grow more and more successfully. His brands continue to grow globally, and his company continues to create innovative products that people genuinely find irresistible.
In addition, Arnault’s success continues to grow as the demand for luxury goods continues to surge in developing markets like China, Japan, and other Asian countries. And with the surge in LVMH’s profit, Bernard Arnault has once again been crowned one of the world’s wealthiest men.
### Here are just a few of his most notable and more recent achievements:
One of the world’s ultimate tastemakers, Oversees a growing empire of 70+ luxury brands, Recently acquired Tiffany & Co. for $15.8 billion (2021), recently sold retailer Carrefour for $854 million (2021), acquired luxury hospitality group Belmond for $3.2 billion (2019), and been listed as the world’s richest man multiple times this year.
Bernard Arnault’s Success Ethos:
So, what’s the secret to Bernard Arnault’s enduring success? A critical key to Bernard Arnault’s success is his keen eye for detail and quality. An aspect that has allowed him to spot value in failing brands and business sectors. Arnault also excels because of his love of luxury, which he defines as a combination of quality and innovation.
In addition, Bernard Arnault places a lot of emphasis on investing in companies with hidden value. Arnault has publicly admired Warren Buffett as an inspiration. And, if one looks closely enough at Arnault’s business dealings, much of it has been related to the acquisition of solid brands, much like Warren Buffett.
So, like Warren Buffett, Bernard Arnault is a visionary who can see value in companies, products, and trends that other people miss. Also, when it comes to insights related to Bernard Arnault’s success, he has pretty clearly laid it out for us in his own words:
“To be successful, you have to have a combination of modernity and timelessness.” Bernard Arnault
“The quality of the product is what makes the group successful, and the quality of the product is due to the amazing craftspeople who work with us.”Bernard Arnault
“I am very competitive. I always want to win.” Bernard Arnault “Try to avoid investing when everything is too expensive.” Bernard Arnault
We can all learn something from Bernard Arnault’s path to becoming the head of some of the most famous brands in the world. This lesson is that our beginnings don’t determine our destination. And that regardless of our education or lot in life, we can successfully journey, expand, and thrive outside of our expertise and do extraordinary things.
We hope that Bernard Arnault’s story has shown you that it is possible to be very successful. But more importantly, we hope it inspires you to reach for the stars.
Courtesy: The Strive