French billionaire Bernard Arnault has designated his son Frédéric to lead one of the family holding companies overseeing LVMH, marking another advancement for the 29-year-old scion within the world’s largest luxury conglomerate.
Frédéric, the fourth child among Arnault’s five offspring, will assume the role of managing director of Financière Agache, replacing Nicolas Bazire, according to an announcement made by the company on Thursday. The Arnault family commands a 48 percent stake in LVMH’s capital and holds 64 percent of its voting rights. LVMH, listed on the Paris stock exchange, boasts a portfolio of renowned brands including Louis Vuitton, Dior, and American jeweler Tiffany.
A graduate of the prestigious Ecole Polytechnique, akin to his father’s alma mater, Frédéric recently ascended to the position of chief executive of LVMH Watches following his tenure as chief executive of Swiss watchmaker TAG Heuer. In April, he and his 32-year-old brother Alexandre were appointed to the LVMH board, joining their older siblings Delphine and Antoine. The announcement of Frédéric’s new role coincided with a 1.34 percent rise in LVMH’s shares on Thursday, propelling the company’s market value to €381.46bn.
The reshuffling of responsibilities among the five Arnault children, all of whom hold positions within LVMH, is closely watched for indications of potential successors to the group’s 75-year-old patriarch.
While Bernard Arnault has reiterated his lack of immediate plans to step back from his leadership role, LVMH revised its age limit for the chief executive position to 80 two years ago. Nonetheless, Arnault is strategically positioning his children in pivotal roles within the company as part of succession planning—a process that has accelerated since the beginning of 2023. Recently, he reorganized the top echelons of external management to facilitate a smooth transition among senior executives who collaborate closely with the family.
Delphine Arnault, aged 49, assumed the role of chief executive of Dior—a position of significant influence within LVMH—at the outset of 2023 and serves on the company’s executive committee.
Antoine, aged 47, oversees image and sustainability initiatives at LVMH and also serves as chief executive of Christian Dior SE, another family holding company overseeing LVMH, a position he assumed at the end of 2022.
Alexandre holds a senior executive role at jeweler Tiffany & Co, which was acquired by LVMH for approximately $16bn in 2020. Meanwhile, Jean, aged 25, spearheads watchmaking operations at Louis Vuitton.
Externally, LVMH’s managing director Antonio Belloni, aged 69, stepped down after 23 years as Bernard Arnault’s key collaborator in April. He was succeeded by Stéphane Bianchi, formerly head of watches and jewelry at LVMH, who brings extensive experience in family succession from his tenure at French cosmetics giant Yves Rocher.
