Daughter of World’s Richest Man Promoted

World’s richest man Bernard Arnault, designated his daughter Delphine Arnault to head the leading fashion brand, Dior. As part of the reshuffle at LVMH Moët Hennessy Louis Vuitton, Europe’s most valuable conglomerate, Arnault promoted his daughter as the head of Dior.

The revamp in the organization had replaced many lead positions, read out to know who will head what in the new year. Many leading fashion house had such a restructure to meet the new era’s competition.

Likewise had happened with Inditex, wherein Amancio Ortega’s daughter, Marta Ortega became the chairwoman in the year 2021. Even Prada founder Patrizio Bertelli, have thoughts to hand over the luxurious fashion house to his son Lorenzo.

The New Chief Of Dior

Delphine Arnault is the most popular French Businesswoman acting as the director and executive Vice President of Louis Vuitton and now she will be the CEO and chairperson of Dior(1), effective from 1st of February, 2023.

The portfolio of LMVH is humungous, owning high-end brands like Fendi, Louis Vuitton, Marc Jacobs, Tiffany & Co., etc. worth approximately £336 billion.

Dior itself holds 42.36% of shares and 59.01% of voting rights in LMVH. Dior was founded by the fashion designer Christian Dior, French nationality. Haute couture(2) is a part of the Christian Dior Couture division.

Pietro Beccari is the head replaced by Delphine. Also, Pietro Beccari will be replacing the long-time Chief Executive Michael Burke of Louis Vuitton.

Benard Arnault’s children, 5 of them are positioned in the management of brands in the group. The eldest son, Antoine Arnault is all set to chair the family’s holding company.

Alexandre Arnault is in charge of Tiffany & Co.’s products and communications. Frederic Arnault is the chief executive of Tag Heuer.

Lastly, Jean Arnault leads the marketing and product development for Louis Vuitton’s Watches.

Louis Vuitton created new targets of sales records under the mentorship of Ms. Arnault.

Delphine Arnault is the oldest child of Bernard from his first wife, Anne Dewavrin. She has a sibling, Antoine Arnault. She is a London School of Economics and EDHEC Business School alumni.

Her professional career started with Mckinsey & Co. for two years. Then in 2000, she worked with designer John Galliano’s company. She joined LMVH as part of the Executive Committee of Dior Couture designated as Deputy Managing Director from 2001 till 2013. Thus being part of the most successful fashion house. She is also a member of the LMVH Board of Directors.

Delphine started the LMVH Prize, an international competition a hut for passionate young designers. Bringing in the best creatives and innovative talents, was the agenda behind this competition.

About her personal life, currently she lives with her partner, Xavier Niel who is a French businessman. Together they have a daughter and son Elisa and Joseph.

Bernard mentioned her daughter’s career progress at the company as defined by excellence. As her father he is equally proud in handing over the duties and responsibilities to her daughter who is exceptionally talented. As Louis Vuitton had hit major sales records under Ms. Arnault, it is obviously expected that she would show her caliber for the brand Dior as well.

Bernard Arnault replaced Elon Musk as the richest man globally in December 2022. He was born in an industrial family in Roubaix, France. He studied at Ecole Polytechnique. He started his professional career as an engineer with Ferret- Savinel construction company.

He became the chairman of the same company in the year 1978. He reorganized the holding company Financière Agache. He brought back the company into a profitable position and developed a strategy for the world’s leading luxury house. Thus rejuvenated Christian Dior as the pillar of the novel organization.