As a seasoned gamer with a keen interest in business and luxury brands, I find Bernard Arnault‘s recent interview with CNBC intriguing. The CEO of LVMH, one of the world’s leading luxury goods groups, shared some interesting insights about his relationship with rival company Richemont and his admiration for entrepreneur Elon Musk.
Before the Paris Olympics began, I, Bernard Arnault from LVMH, had an exclusive chat with Andrew Ross Sorkin from CNBC. We delved into some intriguing topics during our interview before the grand opening ceremony.
Arnault was posed with the question regarding an earlier Bloomberg business report that sees Arnault own a stake of competitor Compagnie Financière Richemont. Richemont is known to be a another luxury conglomerate that has recently been in the news after speculation that LVMH is looking to acquire the company. Arnault discussed the stakes in the company clarifying, “I know, well the owner, Mr. Johann Rupert of Richemont. We have a good relationship and I told him that I will never do anything against him. That’s clear. And if I bought some shares, it’s just my portfolio manager put some shares.” He adds, “But it’s a very minor stake and I am very happy. He has done something fantastic with Richemont, with Cartier, with Van Cleef, and I think he’s independent. He wants to stay independent. And I agree completely on that.”
Under Bernarrd Arnault’s guidance, LVMH expanded its luxury domain by purchasing Tiffany & Co. for approximately $16 billion USD in 2021. In conversations with fellow billionaire and friend Elon Musk, Arnault expressed admiration for Musk, stating, “I think he’s a genius.” He praised Musk’s accomplishments with Tesla and SpaceX, considering the possibility of their companies collaborating. When asked about potential collaboration, Arnault seemed open to the idea, commenting, “Perhaps we’ll see a Louis Vuitton-SpaceX partnership.” Musk did not reject the idea outright, but Arnault admitted that he has little interest in space travel and jokingly added, “I’m afraid he will ask me to join him on the rocket.”
Currently, there’s no collaboration between LVMH and SpaceX. However, it’s possible that they may team up down the line.
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2024-07-28 14:34