Speaking of Arnot, you may not know him, but you have heard that their LVMH Group owns more than 50 luxury brands, including Dior, Givenchy, Fendi and TAG Heuer.
It is no exaggeration to say that Napoleon of Nott's fashion world
Godfather of luxury goods
Arnot1949 was born in a wealthy French family on March 5th. 1984 graduated from Paris Institute of Technology. After graduation, I found my parents by my unique business and persuaded them to invest in me. Under his crying, his parents promised him money to start a business, but if Arnot failed to start a business, he would go home and inherit family assets.
1984 Anote acquired Boussac Group, a textile company with long-term losses. Later, he mortgaged the family business and bought Dior Group, which was twice the size of the family business. The acquisition of Dior is Bernard's first step to acquire the brand. At that time, Dior Group was almost in decline, but Bernard brought Dior back to life within two years with his excellent management wisdom, which not only maintained his own tradition, but also added internationalization to this old brand.
This ambitious man's career is more than that. She will continue to expand his "luxury territory". In his own words, whenever he sees a beautiful brand, he wants to put it in his pocket. Some people call Arnault a predator because he "goes up" when he sees "prey".
At that time, President Racamier (the third generation inheritor of LV) found that the company was in a dilemma of internal and external affairs, and the company could not achieve profit expansion only by high-end routes. At that time, LVMH also fell into the dilemma of equity struggle. He skillfully took advantage of the disharmony between the person in charge of luggage and the person in charge of liquor business, and bought a lot of LVMH shares at a low price. 1989 1, with the help of investment bank Lazard, became the absolute controller of the group.
However, his acquisition path was not smooth sailing. 1999, Arnault quietly bought a 34.4% stake in Gucci group for1400 million dollars within 20 days. However, in this raid, Gucci first diluted Arnault's shares by issuing a large number of new shares through the employee stock ownership plan, and then found a new buyer-French compatriot company PPR (later Kaiyun), also Arnault, who took 42% of the total share capital for $3 billion.
After the share expansion, PPR became the largest shareholder of Gucci. In desperation, Arnault filed a lawsuit in a Dutch court to investigate this, but in the end, the transaction was finally approved by the Dutch court.
In the first 10 year of 2 1 century, LVMH quietly acquired the shares of Hermes 17 1% in the stock market in a complicated way of10.45 billion euros, becoming the second largest shareholder except Hermes family.
However, Hermes has always resisted external acquisitions. Therefore, in 20 1 1 year, Patrick Thomas, CEO of Hermes, immediately filed a lawsuit with the court after discovering that LVMH Group had secretly acquired the shares of the group.
20 13 after a series of federal investigations, lawsuits and counterclaims, the two sides finally reached a settlement agreement.
That is, LVMH compensated Hermes for 8 million euros and could not buy any shares in the latter in the next five years. The court ruled that LVMH Group reduced its 23% stake in Hermes by 8.
In 20 19, it acquired Tiffany, and cooperated with Rihanna to launch a brand-new luxury brand, expanding alcohol and high-end hotels.
In 2020, Arnot wanted to do something big, but with the spread of the epidemic in Europe and America, people began to tighten their wallets, and rational consumption began to become the mainstream of society.
Just as more and more brands began to lay out online, the performance of the luxury goods industry on the mobile side of the Internet was "unsatisfactory". Arnault's own wealth has shrunk by more than $36 billion.
Therefore, at the moment when the epidemic broke out, major luxury goods turned to epidemic prevention materials.
LVMH Group transformed the perfume and cosmetics production line and began to produce hand sanitizer; Kaiyun invested in the factory to manufacture medical protective clothing; Dior under LVMH turned into a mask.
Do you think Nott can revive the luxury industry and save his luxury empire this time?