Louis vuitton employee discounts: What benefits does Louis Vuitton offer?

Опубликовано: February 1, 2023 в 2:02 am

Автор: alexxlab

Категории: Miscellaneous

How Much Do Louis Vuitton Employees Make? THE TRUTH

A key part of the Louis Vuitton in-store shopping experience is the salespeople, referred to as client advisors. CAs (for short) can really make or break a customer’s shopping experience and are a very important part of the luxury shopping culture. They’re relied upon to keep their clients informed and up to date with the newest styles and assist with product knowledge, care, etc. Louis Vuitton is a multi-billion dollar company, so, how much do Louis Vuitton employees make?

Table of Contents

How Much do LV Employees Get Paid?

The sales role at a Louis Vuitton boutique earns anywhere from $16-$31 an hour, with an average of $24. Factors like retail experience and sales skills determine the final rate. A hostess role will earn less than a CA, and there’s no commission.

How much Louis Vuitton Employees make will vary based on country but on average salary ranges from $66,000 per year for a client-advisor (CA) and go up to $290,000 for a director.

How much commission do Louis Vuitton employees make?

To top up their salary, do Louis Vuitton employees make a commission on sales? It seems to vary but most LV employees do not make a commission on products that they sell, but instead may be involved in bonus schemes. This means that Louis Vuitton sales associates are less ‘pushy’ about sales as they don’t make any direct profit from it. However, it may be that in certain countries employees can make commission and the structure is as follows:

Employees can earn sales commission based on the type of product they sell;

0.25% on canvas bags

1% on leather goods

3% on exotics and hard-sided luggage

Canvas bags are the least expensive material and are considered an entry-level product in the Louis Vuitton culture. Find out what Louis Vuitton bags are made of here.

You’ll find that employees generally prefer leather goods over canvas because the material is just an overall better investment. Canvas is easy to care for and durable but not real animal skin; it’s made from Egyptian cotton and sealed with a plastic-like material over top. Monogram canvas is a trademark for LV, but recently they’ve been veering away from it by withholding canvas styles from the general public. This is in an effort to increase the consumption of leather goods, and clearly, employees are incentivized to steer clients in this direction by offering a higher commission rate.

Exotics and hard-sided luggage have an even smaller demand, due to the expensive prices and niche appeal. This commission rate is higher but not obtained very often.

Considering Louis Vuitton is a multi-billion-dollar company, some might say that these commission rates are not high enough for their employees and that the company needs to do better. Unfortunately, retail jobs are notorious for being low-paying and it seems like no matter how luxurious the brand is, the front-line workers have to work extra hard to make a decent living.

Do Louis Vuitton Employees Get A Discount?

Yes, Louis Vuitton employees get a discount of 30%. They also have an internal website for staff only where LV will sell one-off styles at highly discounted rates. The items on the site are previously used as floor models or are defective pieces, and Monogram canvas is excluded. All sales are final on the employee website.

When it comes to understanding how much Louis Vuitton employees make, factoring in perks such as a 30% discount can mean for Louis Vuitton bag lovers, the job is even better paying.

All employee shopping must be done online with one exception; you can shop in person with the employee discount at the Louis Vuitton flagship store in France. This is by appointment only and there will be other employees shopping so there could be competition for popular styles.

How Much does a Store Manager at Louis Vuitton Make?

The salary can range depending on the individual’s previous work experience, but typically they can earn upwards of 80K annually, which is extremely lucrative. There are also incentives based on previous years sales’ that result in quarterly bonuses.

Is LV A Good Company to Work For?

Of course, there are pros and cons to any job, but generally speaking, Louis Vuitton is a good company to work for.

Pros:

Staff are given custom made uniforms and get free dry cleaning from the company. Female employees are also given shoes and a purse for free and are periodically updated with newer styles. If you leave the company you will have to give back the purse, sadly. Men receive a belt, a pair of shoes and two sets of suits and ties. Image is important to LV so they make sure their staff are taken care of when it comes to their appearance.
The staff receive a 30% discount and benefits.
Incentives are given when sales goals are reached, so the whole staff can receive a bonus which opens the doors to earn more.
Some store managers will have contests for sales targets and give away prizes making the working atmosphere more fun

Cons:

Working retail is physically taxing, you’re expected to be on your feet for extremely long shifts, and might be running back and forth if it’s a busy season.
The clientele who shop at Louis Vuitton spend large amounts of money and may take advantage of that fact by behaving in an entitled manner. This can be difficult and stressful especially if the customer is being unreasonable. This comes with any retail position when you’re dealing with the public.
Retail demands long hours especially on the weekends when the boutiques are the busiest

How do you get a Job at Louis Vuitton?

You can apply to work for Louis Vuitton in multiple ways; you can do it the old-fashioned way where you walk into the store and drop off your resume – this method is good for creating a lasting impression. You can also apply through third-party websites like Indeed, and also through the Louis Vuitton website; There is a “careers” option at the bottom of the home page that will redirect you to the company’s job openings page. You will need sales experience at a luxury company, without that it will be difficult to get an interview. Having a current clientele book is also an asset, as the company wants its staff to bring in customers.

When going for the interview, it’s important to portray an image that’s suited to the brand; class and elegance are what LV is known for, so you want to match that with your appearance. Hair should be tidy and neat, light makeup and an overall well-manicured appearance are expected. Of course, if you own any Louis Vuitton merchandise, be sure to wear it to the interview. Relatability and a proven sales record are also extremely important, being friendly and easy to talk to are assets. Having knowledge of the brand, its beginnings, and keeping up to date with it shows dedication and a genuine interest in the company, so brush up on LVs history in order to impress the interviewer.

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Quick Answer : How much is the employee discount at LV?

20% employee discount is nothing.

What benefits do you get working at Louis Vuitton?

30% off with a laundry list of restrictions and 70-90% off a limited selection of out-of-style items. Louis Vuitton offers employee discounts after 90 days, as long as you are in good standing with the company.

Also, Do Louis Vuitton employees get commission?

No commission structure or bonuses- just hourly pay; I quit my current job to work for Louis Vuitton and it was not worth it especially because of horribly rude customers with unrealistic requests.27 dec. 2020

Regarding this, How much discount do GAME employees get? All staff receive a generous discount of 50% off most Citadel products, and 25% off Forge World products.

Do Game employees get discount?

GAME is filled with likeminded people, and they offer exclusive benefits in their employee discount scheme.

Likewise, How much is MK employee discount?

If you choose to shop at our full-price retail stores or our e-commerce website, you will be entitled to a discount of 50% off the retail price, or 25% off the sale price, excluding fragrances and fur. In addition, if you shop at our outlet stores, you are eligible for 60% off the retail price.19 dec. 2018

What is LV employee discount?

Employee Comments 30% off with a laundry list of restrictions and 70-90% off a limited selection of out-of-style items. Louis Vuitton offers employee discounts after 90 days, as long as you are in good standing with the company.

How much does Louis Vuitton make a day?

Per Day: Per Hour: Per Minute:
———- ——— ———–
$27,397.26 $1,141.55 $19.03

Do chapters employees get discounts?

Our manager was good, helping customers was always fun and getting staff discounts always a bonus. They don’t care about their staff. They do not pay enough, however the discount was very good.

Do GameStop employees get free stuff?

No, only the store managers get free stuff. … Only store managers get free games.4 okt. 2016

What is the LV employee discount?

What are the benefits of working at Louis Vuitton?

By joining Louis Vuitton, you will receive a generous benefits package*, including but not limited to medical coverage, retirement plan, employee referral bonus program, gym membership and employee discounts.

How can I get discount on LV?

– Subscribe to the Newsletter. …
– Shop Pre-Owned Online. …
– Keep Your Eyes Peeled at Vintage Stores. …
– Find Louis Vuitton in Department Stores & Make the Most of Their Perks. …
– Use a Rewards Credit Card. …
– Follow the Brand on Social. …
– Buy Discounted Gift Cards.

How much discount do sports direct employees get?

20% discount including family and friends, flexible with hours.

Does Louis Vuitton give any discounts?

You will never find Louis Vuitton on discount. … If you buy an LV bag today, you will be able to use it for another 20 years, at the least.4 aug. 2015

Do snap on employees get a discount?

Employees get 50% off on purchases.

How much do you make working for Gucci?

Job Title Salary
———————————————– ——
Sales Associate salaries – 36 salaries reported $17/hr
Client Advisor salaries – 14 salaries reported $18/hr

How much discount do Clarks employees get?

4 answers. 20-30% which is very generous as I enjoyed simply advertising the shows in the shop.22 jan. 2018

How much is the employee discount at chapters?

Employee Comments 30% discount on books in store and online. 10% discount on other products.

How much does a Gucci employee make?

The average Gucci Sales Associate earns an estimated $100,948 annually, which includes an estimated base salary of $74,148 with a $26,800 bonus. Gucci’s Sales Associate compensation is $39,487 more than the US average for a Sales Associate. Sales Associate salaries at Gucci can range from $36,500 – $150,000.

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louis vuitton Russia – Company Employee Reviews

Field of activity: Production/supply: Clothes, footwear, accessories, textiles
Country: Russia
Region of operation: Moscow
Company rating:

Rating 2.87/5.0

Views: 27934
Business Description:

Retail

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Reviews of louis vuitton Total: 6

08.

10.16 12:09

Author:
Lena,
Moscow

Worked in Europe for several years. Only positive feedback. The company cares about its employees. But in recent years it has been stingy … you can see the crisis, although there is no crisis in the suite))) Of course, it depends on the director and managers. Moscow has its own management system along the way))))

Often you have to spend your free time in organizing briefings in the form of a game, competition, and so on. so the material is easier and more interesting to assimilate. But this should be done during business hours, not at home!!! Then constant trainings, collective meetings … I’m all for it, but not so often!!! A meager voucher of 250 euros annually. You won’t get anything for it!

Company Score:

Rating 3. 8/5.0

09.12.14 04:08

Author:
Stasya,
Moscow

I had an interview with Ekaterina Nedorezova, and then in GUM with the boutique manager Lika Rostotskaya and the manager of the “Women’s Universe” (I don’t remember her name, unfortunately) All of the above girls made quite a positive impression on me – friendly, smiling, friendly

I went to the interview several times and the final stage was just in a boutique. Before that, I had almost four years of experience in a boutique, the price range of which is an order of magnitude higher than LV. I also have a higher education from one of the leading universities and spoken English. I answered all the questions quite clearly and clearly, I perfectly imagined the scheme of work (again, I have experience). But almost a month later they wrote to me on . .. “0069 +1

06/09/14 13:08

Author:
Ygodka,
Moscow

Louis Vuitton Human Resources in Moscow operates as a separate entity and not part of the company itself. I have no doubt that the company itself is very worthy. Not interested in employees, probably in the personnel department, there is a black list of them, into which people fall, depending on the mood of an unprofessional HR. It is not clear why in a company with a white salary, there is a constant turnover. Probably problems with … ”

After interview

Utility: (1 – 0) = +1

27.04.14 10:07

Author:
Anonymous,
Moscow

Change all guards. And the whole Chop is better. They stand forever dirty as chmoshniki

Company valuation:

Rating 3.0/5.0

Utility: (1 – 0) = +1

25.04.13 10:43

Author:
Elena Nikitina,
Moscow

I am looking for someone who works in Louis V. if there is a possibility, help me! I want to buy a bag! I know that there are good discounts for employees! I will pay for the service! write to [email protected]

Utility: (0 – 1) = -1

09/09/12 21:09

Author:
Anonymous,
Moscow

World famous brand and nothing more!

Appointed an interview at 9 am! :)) Arrived and talked (with a personnel officer). Appointed on the same day, an interview with the director in Stoleshka. I arrived, :)) at exactly the appointed time, as a result, I sat waiting for an hour when “Madam” Evgenia (director) deigns to receive me! Terrible interview! She asked complete nonsense, what kind of traffic I had in the boutique (previous place of work), what revenues were per day, in which boutiques … “

Company Value:

Rating 1.8/5.0

Utility: (2 – 0) = +2

24/7 Billionaire: How the Owner of Louis Vuitton Created a $100 Billion Fortune

The owner of Dior and Louis Vuitton is called a man who does not accept the word “no” and does not want to lose. These qualities helped Bernard Arnault build a fashion empire that has become a symbol of French luxury, and create a fortune of more than $ 100 billion. He does not plan to stop there

“Bernard Arnault inspires me,” says Sharon Barber. The 38-year-old Los Angeles-based accessories designer flew to Paris in the midst of fall Fashion Week and traveled to Louis Vuitton’s luxurious flagship store on Place Vendôme to pay tribute to the head of the LVMH group. Barber immediately attracts attention. He dyed his hair hot pink and yellow and then stenciled some dollar signs on it with black paint. The designer wears green grills on his teeth, and a massive steel chain of locks from Louis Vuitton bags wraps around his neck. “Last year I spent a couple of hundred thousand on Louis Vuitton,” adds Barber. He makes a living customizing clothes and accessories for hip-hop stars like the trio Migos and rapper Post Malone. In the music video for the song Saint-Tropez Post, Malone wears a bulletproof vest that Barber made from a Louis Vuitton bag and black leather. The California designer is convinced that Bernard Arnault single-handedly defined the modern definition of luxury.

Finished reading here

LVMH

“This is Louis Vuitton’s most extraordinary home. Here you can see the whole universe of the brand,” says Arnaud, with a pronounced French accent, describing the Louis Vuitton flagship store opened two years ago. The store itself is something between a museum and a private club. In sparkling showcases, Louis Vuitton items in all their diversity. A marble staircase with glass balustrades leads to a private atelier on the fourth floor, where six tailors create bespoke gowns for celebrities such as Lady Gaga and Emma Stone. “I was directly involved in the creation of the store,” emphasizes Arno.

The Frenchman constantly monitors the financial performance of his biggest brands. This is especially true of Louis Vuitton, the “money machine” of the conglomerate. According to analysts, it is Louis Vuitton that accounts for up to 47% of LVMH’s profits and almost a quarter of LVMH’s revenue for 2018, the total amount of which was $54 billion. LVMH itself publishes financial statements for five main divisions, but does not disclose the performance of individual brands.

Bags, clothing and accessories that Louis Vuitton never wholesales or sells at discount prices are the perfect blend of classic and contemporary. An excellent example of this combination is the $8,600 limited-edition Capucines handbag in turquoise leather. 29Harlem-based artist Tshabalala Self adorned it with a unique layered appliqué. At the start of the year, Louis Vuitton’s new menswear creative director, Virgil Abloh, 39, also created a buzz with his glow-in-the-dark handbag collection. Due to the fiber optics woven into the bags, the LV logo in the dark is illuminated with all the colors of the rainbow.

LVMH

“What is the secret behind the success of brands like Louis Vuitton and Christian Dior? It’s all about two aspects that can contradict each other: these brands exist outside of time and at the same time are more modern than ever, says Arno. “It’s like fire and water.”

Thanks to this paradox, the companies of the LVMH group, which includes Fendi, Bulgari, Dom Pérignon, Givenchy and other brands (over 70 in total), received record sales and profits. This, in turn, boosted the value of LVMH shares, which nearly tripled in less than four years. Bernard Arnault, together with his family, owns 47% of the company’s shares. His fortune is now estimated at $102 billion, $68 billion more than in 2016. He ranks third in the ranking of the richest people in the world – after Jeff Bezos ($110 billion) and Bill Gates ($106 billion).

And even at the age of 70, Arno does not intend to stop there. At the end of October, LVMH announced preliminary negotiations to buy the American jewelry brand Tiffany. Arno plans to take over the 182-year-old jewelry company for $14.5 billion. If this deal goes through, Tiffany will be his biggest acquisition.

“Comparing us to Microsoft, we can say that our company is not that big,” says the billionaire. Indeed, the tech giant’s $1.1 trillion market value far exceeds LVMH’s $214 billion market value. “But that’s just the beginning,” adds the Frenchman.

A Predator in Expensive Armor

Arno’s early career in the industrial north of France was far from glorious. The billionaire’s first love was music, but he lacked the talent to become an outstanding pianist. In 1971, having received an engineering education at an elite French university, he began working with his father in a construction company founded in the city of Roubaix by his grandfather.

In the same year, in a conversation with a taxi driver in New York, Arno learned an important lesson that would later lead him to the head of the LVMH empire. Arnault asked the taxi driver if he knew French President Georges Pompidou. “No,” the American driver replied. “But I know Christian Dior.”

At the age of 25, Arno took over the family business. After the socialist Francois Mitterrand became president of France in 1981, Arnault moved to the United States and tried to create a division of the family company there. But his ambitions went far beyond construction. He needed a project that he could scale, a business with French roots and an international presence.

LVMH

In 1984, upon learning that the Christian Dior brand was for sale, Arno immediately decided to buy it. Dior’s parent company, Boussac, which was also the largest manufacturer of textiles and disposable diapers, went bankrupt, and the French government was urgently looking for a buyer. Arnault spent $15 million of family capital and attracted the investment company Lazard Frères, which invested another $80 million in rescuing Boussac. Newspapers wrote that Arnault first promised to resume production and save jobs. However, he then fired 9000 workers and sold most of the assets for $ 500 million. Such impudence was amazing – after all, Arno acted not like a Frenchman, but like a real American. The press dubbed Arno “the wolf in cashmere.”

Arnault’s next target was Dior’s perfume division, which was owned by the Louis Vuitton Moët Hennessy conglomerate. LVMH’s brand executives were in constant competition, and Arnault decided to capitalize on it. First, he became friends with the head of Louis Vuitton, whose founder created special chests for Empress Eugenie, wife of Napoleon III. Arnault helped the head of Louis Vuitton oust the director of Moët Hennessy’s alcohol division, only to later get rid of him too. K 19In 1990, with the support of Lazard Frères and with the help of money received from the sale of the Boussac enterprises, he gained control of a conglomerate that included the famous French champagne manufacturer Moët & Chandon and the French cognac maker Hennessy, founded in 1765.

Wolf in cashmere. Bernard Arnault’s Business Rules

With Louis Vuitton Moët Hennessy at his disposal, Arnault spent billions of dollars acquiring Europe’s leading fashion and fragrance companies, jewelry and watch makers, and fine wines and spirits. LVMH has acquired 20 brands since 2008, bringing it now to 79companies. In 2011, LVMH paid almost $5 billion (mostly in stock) for the Italian jewelry brand Bulgari. Two years later, it acquired Italian wool and cashmere clothing manufacturer Loro Piana for $2.6 billion. The last takeover deal was concluded in April of this year. LVMH paid $3.2 billion for the London-based Belmond Group, which includes the Cipriani Hotel in Venice, luxury Orient Express trains and three safari hotels in Botswana.

Luxury wool. The history of the brand Loro Piana, whose clothes were noticed several times on Vladimir Putin

“Bernard Arnault is a predator, not a creator,” says a banker who knows about the details of the deal to save Boussac.

But the billionaire was not lucky in all his undertakings. In 2001, he lost to his archrival François Pinault in a fight for control of the legendary Italian fashion house Gucci, a battle dubbed by the media as the “bag war”. Over the next decade, LVMH, borrowing hedge fund tactics, secretly bought shares in Hermès, the 182-year-old company that makes silk scarves and iconic Birkin bags. Acting in this way, the Arno company collected a 17% stake. But in a protracted war with the leadership of Hermès, which lasted until 2017, LVMH was defeated and abandoned most of its share.

Arnaud looks like he’s wearing some sort of armor when we meet on an overcast Friday morning in late September. The billionaire wears several LVMH brands: a pinstripe suit by Celine, a navy blue tie by Loro Piana, black leather pumps by Berluti and a white Dior cufflink shirt with initials embroidered on it. He keeps fit by playing tennis four hours a week, sometimes with his friend Roger Federer. “As you can see, I try not to get fat and often go in for sports,” emphasizes the Frenchman.

Tennis is the only way for him to take a break from work. Arno’s working day usually starts at 6:30 am. He now lives in a 17th-century mansion in the 7th arrondissement of Paris on the left bank of the Seine. Every morning, the billionaire listens to classical music, browses fashion industry news, and texts family members and brand executives. “I think every day that ten years from now our brands should be as desirable as they are today. This is the key to success,” says Arno. By 8 a.m. he arrives at the office on Avenue Montaigne, where he works until 9 p.m. Sometimes he takes a break for 20-30 minutes to play the Yamaha piano in one of the halls on the ninth floor of the building.

Jamel Toppin for Forbes

“He works 24/7. Even when he sleeps, he dreams of new ideas,” says 44-year-old Delphine Arnault, Arnault’s eldest daughter from his first marriage and executive vice president of Louis Vuitton.

On Saturdays, Arnaud travels to LVMH retail stores and advises shop assistants on window dressing. In one morning, he visits up to 25 boutiques – and not only his own, but also the shops of competitors. “It’s his ritual,” says 25-year-old son Arno Frederic, who works for LVMH’s TAG Heuer watch company.

Arnault talks about what he saw in the stores to the LVMH brand executives. He recently alerted Louis Vuitton CEO Michael Burke that the flagship store on Place Vendôme was running out of new $2,480 Onthego bags. “He complains when the stores sell out too much,” says Michael Burke, who has worked with Arno since 1980.

At least once a month, Arno flies his Bombardier to the far reaches of his fashion empire. In October, he visited the small Texas town of Keene, where he and US President Donald Trump inaugurated the first of two new Louis Vuitton factories. It plans to create 1,000 jobs over the next five years. In the US, the brand already has two similar enterprises – in California.

“I’m not here to condemn his policies. I am far from politics,” Arno told reporters when asked about Trump. Nevertheless, this event led to lively discussions among the employees of his company. Louis Vuitton Womenswear Creative Director Nicolas Ghesquière wrote on Instagram: “I am a fashion designer. I renounce such associations.” He also added the hashtags #trumpisajoke and #homophobia. Arno did not react to Ghesquière’s remarks.

Bertrand Rindoff Petroff/Getty Image

At the end of October, Arno, Burke and Dior CEO Pietro Beccari were about to fly to Seoul to visit LVMH stores, including the new flagship boutique designed by renowned architect Frank Gehry. This is the sixth Louis Vuitton store with an art gallery, featuring exhibits from the extensive collection of the Fondation Louis Vuitton, sponsored by Arnault. Pieces from the collection can be seen in similar flagship stores and at the Louis Vuitton Museum in Paris, which was also created by Frank Gehry. The construction of the museum cost the conglomerate $135 million.

LVMH’s footprint is impressive: 4,590 stores in 68 countries. But the question of opening new stores or closing old ones often depends not only on traditional indicators like sales per square meter, but also on Arno’s sixth sense and the location of the store. In China, one of the most important markets for his conglomerate, Arnault is deliberately limiting the number of Louis Vuitton stores in order to control LVMH’s growth rate.

Last year, Louis Vuitton closed a store in Fort Lauderdale, Florida because nearby stores and restaurants weren’t attractive enough. Arnault visited the Champs-Elysées several times before confirming the appearance of a new Dior boutique near the Arc de Triomphe. Despite the data on low sales from the previous tenant, the billionaire still approved this site. “He presses with his authority to see if his subordinates really have full confidence in the success of the enterprise. He challenges them, that’s his tactic,” says Beccari.

Dior shop on the Champs Elysees in Paris Dior

The man who doesn’t want to hear the word “no”

Another tactic used by Arnaud is to embarrass his rivals. In July, when many apparel and accessories makers competed for the title of the most sustainable brand, he announced a partnership with designer Stella McCartney (daughter of musician Paul McCartney), who has long been trying to bring sustainability principles into the fashion world. For example, she says that she does not use glue in the production of sneakers, since it is made from the bones and tendons of animals. Last year, Stella McCartney ended a 17-year partnership with the Kering group of companies, which is owned by rival Arnaud Francois Pinault. So Arno invited her to be his “special adviser”. McCartney agreed, despite LVMH’s decision to continue with genuine leather and fur (and with added glue). Arnault refused to join the Fashion Pact initiative, launched under the leadership of the Pinault family. The pact was signed by 32 clothing manufacturers, including Chanel, Hermès and H&M. Stella McCartney also signed the pact. All of them have pledged to reduce carbon emissions in the production of clothing and accessories.

However, during Paris Fashion Week, Arnault decided to demonstrate his commitment to the environment. At the Dior show, models walked the runway, which was set up with 170 trees in dirty earth bags. The theme of the show was sustainable development. The company told the press that the electricity for the event was generated by rapeseed oil generators. The following evening, LVMH invited 50 journalists to take part in a two-hour event in the assembly hall of its headquarters. Arnault and ten LVMH brand executives took turns taking to the brightly lit stage to talk about their commitment to the environment. In the background, footage from screenings and Kashmiri goats roaming the Mongolian steppes were shown.

Halfway through the event, Arno was asked to share his thoughts on young climate activists like 16-year-old Greta Thunberg. “I am an optimist by nature. What can not be said about Greta Thunberg. She is very pessimistic and does not offer real solutions to the problem, ”said the billionaire.

Bertrand Rindoff Petroff·Getty Images

Such an answer could be expected from a businessman. He doesn’t like hearing the word no. There is no such word in his vocabulary, ”said Anna Wintour, editor-in-chief of Vogue magazine. He does not want to hear it from competitors, or from the owners of companies of interest to him, or from environmentalists.

McCartney is just one of the celebrities he collaborates with. In 2017, LVMH created the Fenty Beauty cosmetics brand in collaboration with singer Rihanna. Products are sold in 2,600 stores of the Sephora chain, which is also owned by LVMH. Fenty Beauty focuses on the general consumer: the brand’s tonal foundation is presented in 40 shades. And Rihanna’s 77 million Instagram followers are another boost to the brand’s popularity. Fenty Beauty is expected to sell $550 million this year, Arnaud said. LVMH also launched Fenty Fashion in May. The billionaire believes that Rihanna’s clothes will become as popular as her cosmetics. “She has a different vision of fashion. In the long run, this is very beneficial for us, because millennials like all this, ”the Frenchman notes.

Young and trendy: How wealthy millennials help Bernard Arnault compete with Bill Gates

The pre-Game of Thrones idyll

To keep his brands up to date, Arnault also consults with all of his children from two marriages. Four of them work for LVMH: Delphine (44), Antoine (42), Alexandre (27) and Frédéric (25). According to Alexandre Arnault, the businessman’s youngest son Jean (21) is also likely to join the business when he graduates.

Frédéric Arnault became Director of Development Strategy and Digital Technology for Swiss watchmaker TAG Heuer 13 months ago. Over dinner one evening, he pitched an idea to his father: to improve smartwatches for golfers, he decided to acquire the French startup FunGolf, which had created an app with detailed specifications for 39,000 golf courses. Golfers could use it to measure the distance to sand traps or bushes. “The M&A team thought I was out of my mind,” says the billionaire’s son. But as soon as he told his father about it, he immediately supported his idea.

Alexandre Arnault says his father was just as quick to green-light tech deals he led at Groupe Arnault, a family-owned investment company. This, in particular, is about investments in Spotify, Slack, Airbnb, Uber and Lyft. In 2016, Alexander convinced LVMH management to pay $719 million for an 80% stake in luggage maker Rimowa. Football player David Beckham and actress Angelina Jolie are considered fans of this German brand with a 121-year history. At Rimowa, Alexander creates products in collaboration with well-known companies such as the American brand Supreme.

Delphine Arnault organizes the LVMH Young Fashion Designers Award, which is awarded annually to one of thousands of nominees. In 2015, Virgil Abloh, who is now creative director of the Louis Vuitton menswear line, became a finalist for the award (and in 2009 Abloh interned at Fendi with his friend Kanye West). LVMH also launched a program to support 50 promising fashion startups with Paris-based startup incubator Station F, the brainchild of French billionaire Xavier Niel (Delphine Arnault’s common law husband and father of her two children).

Jean Catuffe·Getty Images

So what do the children of Bernard Arnault think about who will be the next head of LVMH? As if according to the same scenario, they all bypassed this issue. “Our father is very young,” says Delfina. “He will work for another 30 years,” Alexander notes. “I don’t think he will ever retire,” says Antoine Arnault, head of corporate communications at LVMH and head of the Berluti brand. “It’s not what we think. We hope that he will be in charge for as long as possible,” stresses Frédéric Arnault.

“People ask me about this all the time,” says the head of the family himself. “The most important thing for us is to find the best successor. And whether it will be one of the family members or someone from outside, we will see.” When asked how long he still intends to work, the billionaire replied: “I have not decided yet.”

Refusing to answer the question of which of his children he is most likely to advance up the career ladder, Arno happily talks about their talents. On iPhone 11, he shows Frédéric playing a Liszt sonata in preparation for a concert he will perform with his mother at a music festival outside Paris. 59Canadian pianist Hélène Mercier-Arnaud regularly performs in solo concerts and as part of chamber ensembles. “Like a true professional. I don’t know how,” Arno praises his son’s game.

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There seems to be no sense of competition among the younger generation of Arnaud. A family idyll reigns in the house. On Saturdays, children often have lunch with their parents, and in August they all go together for a couple of weeks in Saint-Tropez. However, Frederic admits that some disagreements sometimes arise – on the tennis court: “The situation on the court can be tense. My father loves to compete and does not like to lose. This trait has been passed on to us.”

In an interview with Forbes, none of the family’s close friends dared to bet on one of Arno’s children. But one longtime observer says that when Arnaud finally retires, the real Game of Thrones will begin.

Arno looks to the future with optimism. He is convinced that thanks to his family, LVMH will remain the market leader for many years to come. In his own opinion, he goes against not only his competitors in the fashion industry, but also other world giants. He calls Microsoft “a great company” but notes that Bill Gates owns only a small amount of its shares. “In the long term, it won’t be there,” he notes.

Before talking about his vision for the future of the conglomerate, he stated, “In a way, I shouldn’t say that because you might think I’m being pretentious.