Saturday 6 January 2024

The Arnault Family is real life Succession Roy's as Frédéric Arnault now CEO of LVMH Watches.


Over the past few years the television series Succession has placed the ultra-wealthy family the Roy's in people's homes.  Their family drama, and their style has been raved about.  However, one family which closely resembles the Roy's is the Arnault family.  Most significantly due to their rampant nepotism.

We discussed the appointment of Alexandre Arnault to Rimowa, and how how in our view they frankly ruined the brand turning it into another bland luxury snooze-fest.  However, Bernard, or the wolf in cashmere, as he is sometimes  called, has really outdone himself on the total naked family promotion this time.  He has placed his youngest son of a mere 28 years of age as CEO of LVMH Watches.

For context, LVMH Watches is a 1.9 billion dollar subsidiary of LVMH which holds Hublot, Tag Heuer and Zenith, as well as other watch brands.  How a move to place such an obviously inexperienced youth into such a position of overwhelming responsibility is frankly mind-boggling.  Something proven by the fact that his previous role as Tag Heuer's CEO from 2020 saw the brands popularity and influence decline, according to a report by Statista

If the heads of other divisions of LVMH are to be believed however, this is all business as usual.  With Stéphane Bianchi, head of LVMH Watches and Jewelery saying Arnault's "unique and disruptive vision", and “I am extremely pleased to have Frédéric [Arnault] join me now within the LVMH watches and jewelry division to oversee our three watches maisons, and eager to see what his unique insights and vision will bring to fuel additional and sustainable growth for them," in a statement to Women's Wear Daily.  Although, we question their credibility, as in the same article they also credited Arnault for Tag's "spectacular transformation", and we see how spectacular that really was.

The Arnault family seem determined to continue promoting their own family members in a disappointing show of nepotism, creating a modern day dynasty of Duke's and Prince's.  However, given the incompetence of most of their issue's thus far, it seems likely they will fail dismally as the aristocracy of old did, blinded by short-sighted arrogance. 

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