Battle for the succession in the Dior house: the brothers and sisters jostle to seize the family crown
The march of luxury accelerated last week when Bernard Arnault, co-founder, chairman and chief executive of LVMH - aka "the wolf in cashmere" and the richest man of the world - handed his daughter Delphine the keys to Christian Dior, the Parisian fashion house which, in 1947, launched the modern fashion industry with the New Look.
The symbolism of the move was hard to miss: For months observers have been speculating about succession plans at Europe's most valuable company, purveyor of fashion, champagne, jewelery and real estate in heart of the global luxury ecosystem.
Many observers have pointed to the fictional Roy family in Succession – based on the Murdoch clan. The Roys, they said, had nothing against the Arnaults. Four sons, one daughter, each with roles in the empire, vying for control. And now the eldest daughter, at 47, has been placed at the head of Dior, a symbolically, if not economically, significant brand.
The luggage and handbag specialist Louis Vuitton accounts for half of the parent company's profits, but Dior was the first house Arnault, 73, bought in 1984 after a tip from a New York taxi driver. She is therefore, in family, dynastic and affective terms, at its center.
The elevation of Delphine, a former student of the London School of Economics and eldest of the children of Arnault, means that she is the only child to serve on both the board of directors and the executive committee of parent company LVMH, as well as being responsible for overseeing all product-related activities.
>It was Delphine who led Dior during John Galliano's creative frenzy, and serves as an emissary for designers whose creative shoulders depend on the empire.
< p class="dcr-h26idz">For the next year - at least - which will include a Louis Vuitton product and marketing blitz centered around a collaboration with Yayoi Kusama, 93, the Japanese artist known for polka dots, metallic orbs, pumpkins and "infinity mirror rooms" - all likely to appear wherever LVMH customers are, i.e. in the Instagrammable neighborhoods, resorts, activities and artistic destinations that form the ecology of global ultra-wealth.
Under Delphine's leadership, Arnault said, "The desirability of Louis Vuitton products has increased dramatically, allowing the brand de regularly sets new sales records. His insight and incomparable experience will be decisive assets in leading the...
The march of luxury accelerated last week when Bernard Arnault, co-founder, chairman and chief executive of LVMH - aka "the wolf in cashmere" and the richest man of the world - handed his daughter Delphine the keys to Christian Dior, the Parisian fashion house which, in 1947, launched the modern fashion industry with the New Look.
The symbolism of the move was hard to miss: For months observers have been speculating about succession plans at Europe's most valuable company, purveyor of fashion, champagne, jewelery and real estate in heart of the global luxury ecosystem.
Many observers have pointed to the fictional Roy family in Succession – based on the Murdoch clan. The Roys, they said, had nothing against the Arnaults. Four sons, one daughter, each with roles in the empire, vying for control. And now the eldest daughter, at 47, has been placed at the head of Dior, a symbolically, if not economically, significant brand.
The luggage and handbag specialist Louis Vuitton accounts for half of the parent company's profits, but Dior was the first house Arnault, 73, bought in 1984 after a tip from a New York taxi driver. She is therefore, in family, dynastic and affective terms, at its center.
The elevation of Delphine, a former student of the London School of Economics and eldest of the children of Arnault, means that she is the only child to serve on both the board of directors and the executive committee of parent company LVMH, as well as being responsible for overseeing all product-related activities.
>It was Delphine who led Dior during John Galliano's creative frenzy, and serves as an emissary for designers whose creative shoulders depend on the empire.
< p class="dcr-h26idz">For the next year - at least - which will include a Louis Vuitton product and marketing blitz centered around a collaboration with Yayoi Kusama, 93, the Japanese artist known for polka dots, metallic orbs, pumpkins and "infinity mirror rooms" - all likely to appear wherever LVMH customers are, i.e. in the Instagrammable neighborhoods, resorts, activities and artistic destinations that form the ecology of global ultra-wealth.Under Delphine's leadership, Arnault said, "The desirability of Louis Vuitton products has increased dramatically, allowing the brand de regularly sets new sales records. His insight and incomparable experience will be decisive assets in leading the...
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