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 awe-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 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 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 had his engineering degree, he would begin his professional career as an engineer within the family’s construction business.
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 in 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 would successfully reinvigorate it, bringing it back to profitably. 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. Eventually, he would sell off the non-luxury assets of the company and begin an aggressive acquisition campaign to acquire other luxury brand companies.
Eventually, Arnault assumed control over the leading luxury products group, LVMH Moët Hennessy Louis Vuitton. 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), Listed as the world’s richest man multiple times this year.
Bernard Arnault’s Success Ethos:—
So, what’s the success 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 hidden value. Arnault has publicly admired Warren Buffett as an inspiration. And, if one looks close enough at Arnault’s business dealings, much of it has been related to the acquisition of solid brands, much like Warren Buffett.
Thus, like Warren Buffett, Bernard Arnault is a visionary with an extraordinary ability to see value in things (companies, products, trends) that others 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 between modernity and timelessness.” – Bernard Arnault
“The success of the group is made of the quality of the product, and the quality of the product is a consequence of the extraordinary craftsmen and women working 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
Key Takeaways:—
Bernard Arnault’s journey towards becoming the leader of the world’s most prominent brands contains a lesson we can all benefit from. 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 this Bernard Arnault success story has convinced you that achieving massive success is possible. But more importantly, we hope it inspires you to reach for the stars.
Courtesy:- The Strive