Louis Vuitton is a luxury fashion brand that has become a household name in the fashion industry. The brand is known for its high-end products, including handbags, luggage, accessories, and clothing. But who is the owner of this iconic fashion house?
Brief History of Louis Vuitton
Louis Vuitton was founded in 1854 by Louis Vuitton himself in Paris, France. The brand initially focused on designing and manufacturing high-quality trunks and luggage for wealthy travelers.
However, over time, it expanded its product line to include various other luxury items such as handbags and accessories. Today, Louis Vuitton is one of the most valuable luxury brands globally, with a net worth of around $47 billion.
Louis Vuitton’s Ownership
Louis Vuitton’s ownership has changed hands several times since the company was founded more than a century ago. In 1987, Louis Vuitton merged with Moët Hennessy to form LVMH (Louis Vuitton Moët Hennessy), which is one of the world’s leading luxury goods conglomerates.
LVMH is owned by Bernard Arnault, who is currently the richest man in Europe and the third-richest person globally. Arnault has been at the helm of LVMH since 1989 when he became the majority shareholder.
Bernard Arnault – The Owner of Louis Vuitton
Bernard Arnault was born on March 5th, 1949, in Roubaix, France. He graduated from École Polytechnique with an engineering degree and later attended École des Hautes Études Commerciales de Paris (HEC Paris) to study business.
Arnault began his professional career as an engineer at Ferret-Savinel, a French construction company. However, he soon joined his father’s construction company and became the CEO in 1978. After taking over the reins of the family business, Arnault shifted its focus to real estate and acquired Christian Dior in 1985.
Arnault’s acquisition of Christian Dior was a turning point in his career as it paved the way for LVMH’s formation two years later. The merger brought together several luxury brands under one umbrella, including Louis Vuitton, Moët & Chandon, Hennessy, Fendi, Givenchy, and more.
Today, Arnault is one of the most influential figures in the fashion industry. He is known for his business acumen and has been credited with turning around several struggling luxury brands under LVMH’s ownership.
Conclusion
In conclusion, Bernard Arnault is the owner of Louis Vuitton through his ownership of LVMH. Under his leadership, Louis Vuitton has continued to thrive as one of the world’s most valuable luxury brands. With Arnault’s vision and business expertise, it is safe to say that Louis Vuitton will continue to be a fashion icon for many years to come.