Wondering Who Rules Luxury Market?
It is a reality on the ground that the modern world has been occupied with uncountable and impeccable pieces of luxury goods, there is literally no second thought over the fact that people these days are overwhelmingly indulged in purchasing luxury cars, waterfall fountains, or 3D paintings for the sake of pleasure either from amazon stores or from any other outlets. It all is breathtaking art indeed. In fact over the past recent years, the luxury goods market has emerged as the most profitable market in the world.
So have you ever pondered who actually owns this market or who possesses the highest market share in this industry? The correct answer would be Bernard Jean Étienne Arnault. He is the King of this market at the moment even he is the third-richest man in the world. He is known for his civility towards arts collection as well. He is substantially owing to the most profitable market right now. He is a French investor, businessman, and art collector. He is the chairman and chief executive of LVMH Moët Hennessy – Louis Vuitton SE, the world’s largest luxury goods company.[
Early life
Bernard Jean Étienne Arnault was born on 5 March 1949, in Roubaix, France. Arnault was educated at the Lycée Maxence Van Der Meersch in Roubaix, and the Lycée Faidherbe in Lille.Even in 1971, he graduated from the École Polytechnique, France’s leading engineering school, and began work for his father’s company.
COMPANY AND FACTS
In 1971 he took control of his father’s construction firm Ferret-Savinel. Eight years LATERS he changed the company’s name to Férinel Inc. and shifted its focus to real estate. He has been known to build the Fondation Louis Vuitton (2014), a contemporary art museum in the Bois de Boulogne, Paris, designed by Canadian American architect Frank Gehry. Arnault was known in Europe as the man who revitalized French couture in 1995 by appointing British fashion designer John Galliano to replace the venerable Hubert de Givenchy at the latter’s Paris fashion house.
NET WORTH
He believes in not investing in one particular area for the sake of raising one’s income or assets rather he firmly believes that one can double his assets by investing in multiple domains. This is why he has himself invested in multiple platforms such as art collection which is itself a million dollars revenue-generating industry even it offers a substantial amount of profits annually. Similarly, he believes in deviating investment towards real estate too. He is a mega investor when it comes to the fashion industry as well. He is a man, living a conceit life with a net worth of $174 billion. He is exemplary to many living souls indeed. Even it would not be a dismay to profess that this man is a true connoisseur of business.
