Heir to luxury empire LVMH signals end of bling
Antoine Arnault, the 34-year-old, heir to Louis Vuitton Moet Hennessy, (LVMH) world’s largest luxury group “We are going to enter an era in which logo and ostentation is going to be less successful.It will be about real quality.”
The group founded by his father, Bernard – France’s wealthiest man, and according to Forbes magazine the fourth richest in the world – spans fifty of the world’s best known high-end brands. Antoine Arnault currently heads luxury mens maison Berluti, iconic luxury shoe maker, which last week launches its first ever ready to wear and accessories collection.
Antoine Arnault also stressed that despite worldwide financial turmoil, the sector is enjoying an “anti-crisis”, highlighting that the global appetite for luxury goods is poised for a bling-busting shift. “People are going to want more quality, and less ostentation,” he said. “Especially in a world in economic crisis: you don’t want to be seen with evidently expensive products. Just something that is beautiful. Men seem to be a little bit more selfish these days, and spend a bit more on themselves and a little bit less on their wives or girlfriends.”
Speaking about Berluti’s new venture Mr Arnault said “The collection is more Aston Martin than Ferrari. I love Aston Martin. And you know we had the file on our desk [to possibly purchase the company]. A few years ago we talked about it, it’s luxury too. But it was too much.” Despite passing on Aston Martin, Arnault says he hopes LVMH will buy more old, high-end luxury companies. He said: “The group needs to continue to grow, to preserve savoir faire, craft and heritage.”
Speaking of Marc Jacobs and the rumours of his move to Dior, Antoine Arnault said”The only thing I want is that he stays with us. The discussions were very peaceful, very calm with Marc and my father, and everything is fine between us.”
adapted from telegraph.co.uk