Word: arnault
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Surrounded by hundreds of decanters of Dior's latest fragrance, J'adore, Bernard Arnault, 50, swivels in an ergonomic chair at the head of a metallic gray conference table on the 16th floor of midtown Manhattan's new LVMH tower. Forget Calvin, Ralph and even Giorgio or Miuccia--this narrow-faced, thin-lipped, dimpled Frenchman is the most powerful person in fashion today...
...founder and president of luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton, Arnault controls, in addition to the eponymous leather goods and spirits brands, Christian Dior, Givenchy, Celine, Kenzo, Christian Lacroix, Tag Heuer, Dom Perignon, Ebel, two Paris department stores, the DFS duty-free chain and the Sephora perfumery-shops, among other brands. Lately, he has been acquiring new companies at the rate of one a week: Bliss, Hard Candy, Fendi, Pucci, Urban Decay. "We look for hot companies, still small," says Arnault in his accented English, his voice a clipped tenor. "No one can do as much with...
...people can do more with any brand than Arnault, who has built LVMH into a $40 billion company and amassed a personal fortune estimated at more than $6 billion. In the process, he has turned an industry that once consisted of hundreds of small, family-run companies into one dominated by a few luxury conglomerates, of which LVMH is pre-eminent. No other fashion brand is big enough to bid against him. Except one: Gucci...
...Amazon.com Accordingly, Sotheby's has taken the greater fall. Its stock, which was at 47 last April, closed last Friday at 19.5, after sinking as low as 14.5 earlier in the week. And its tarnished image prompted rumors that it might be a takeover target for French financier Bernard Arnault, head of the luxury-goods conglomerate LVMH Moet Hennessy Louis Vuitton. If Arnault acquired Sotheby's, it would afford him yet another confrontation with his archrival, French investor Francois Pinault, who has owned Christie's since...
...venture capitalist's private plane. Time Warner, TIME's parent company, last year scrapped plans to launch a women's information cable network, concluding that it would not be profitable. But Laybourne was able to attract investments from the likes of Paul Allen (co-founder of Microsoft), Bernard Arnault (chairman of the luxury-goods company LVMH) and America Online (which plans to merge with Time Warner), building a programming fund of more than $400 million. She has also drawn a raft of veteran producers and, as business partners, the Hollywood production team of Marcy Carsey, Tom Werner and Caryn Mandabach...