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– Bernard Arnault, CEO of the luxury group LVMH, and his son Alexandre.
Alexandre Arnault is gaining momentum at LVMH. The son of Bernard Arnault and Canadian pianist Hélène Mercier has just been promoted to deputy general manager of the wines and spirits branch. L'32 year old businessman will also occupy a strategic role as deputy CEO with Jean-Jacques GuionyCEO of the division, reports the Meet & Match site this Thursday, November 14. Alexandre Arnault is therefore now well placed for a possible succession at the head of this emblematic division, which is currently facing major challenges.
In 2023, the wines and spirits branch of LVMH recorded a organic decline of 8% of its sales over the first nine months, underline our colleagues. A poor performance which can be explained in particular by the drop in demand in China and the pressure on margins due to inflation. Alexandre Arnault's mission is to boost performance, but also to maximize the potential of flagship brands such as Moët & Chandon, Dom Pérignon, and Hennessy.
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A flawless journey at Tiffany & Co.
Before this appointment, Bernard Arnault's son stood out at Tiffany & Co., where he led operations, communications and product development. The manager managed to reposition the brand to attract a younger and international clientele, contributing to a 15% increase in sales in the millennial segment, underlines Meet & Match. This choice reflects a desire for family continuity within the French luxury group LVMH while instilling a young and dynamic perspective.
Another major change within LVMH: the departure of Chantal Gaemperlethe director of human resources (HRD) for 17 years. In a press release, the luxury group confirmed, Wednesday November 13, that its HR department would be “dedicate to new projects”. According to information from The LetterChantal Gaemperle would have been “layoff with a view to dismissal for serious misconduct”. An internal investigation “led by the general administration and legal affairs teams” would have revealed a “cumulative benefits in kind received from 75 houses in the group».
