Family Squabble Looms for Worldâ??s Largest Luxury Goods Maker (Bloomberg)
LVMH Moet Hennessy Louis Vuitton SAâ?¦ If you think the companyâ??s name is a little unwieldy, try making heads or tails of family power-struggle for control. Current CEO Bernard Arnault is 64 and could qualify for a state pension. In time, he will step time. Perhaps not any time soon, but the question of who then assumes power is a potentially destabilizing nightmare for the worldâ??s largest maker of luxury goods. Arnaultâ??s son, Antoine, runs shoemaker Berluti, while daughter Delphine, heads up Louis Vitton. And it appears that Arnault — Franceâ??s wealthiest man — is testing his children to find his heir apparent. Unfortunately, the competition is also testing investor patience as shares were down 1.3 percent this morning.
Sign up to the Human Events newsletter