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CULTURE

Who is France’s luxury emperor Bernard Arnault?

Bernard Arnault -- who with his family now tops the wealth of Elon Musk -- gradually built LVMH into a global luxury empire by buying up iconic brands, sealing his reputation as a formidable and insatiable businessman.

French luxury group LVMH Chairman and Chief Executive Bernard Arnault
French luxury group LVMH Chairman and Chief Executive Bernard Arnault currently has the world's highest fortune with 186 billion dollars, topping the Forbes billionaires' list. (Photo by Eric PIERMONT / AFP)

With $184 billion on Thursday, the 73-year-old Frenchman and his family moved to the top of Forbes’ billionaire list, knocking the Tesla, SpaceX and Twitter boss off the top spot.

LVMH — the world’s leading luxury group — boasts more than 75 brands, acquired over time.

They include some of the most recognisable names in fashion and prestige goods, from Louis Vuitton and Kenzo to Moet Hennessy and Tiffany.

“An essential quality in our family is patience,” Arnault acknowledged in a 2012 TV profile of him.

A decade later — by which time LVMH’s annual sales had more than doubled to over 64 billion euros ($68 billion) — he told France’s Radio Classique:

“We can continue to progress — but let’s be patient.

(From L) Elon Musk as he attends TIME Person of the Year in New York City and CEO of LVMH Bernard Arnault as he poses during a photo session in Paris in 2017. Arnault, and his family knocked Elon Musk off the top spot of the Forbes list of the world’s richest people on December 7, 2022. (Photo by Theo Wargo and JOEL SAGET / various sources / AFP)

“No rush,” he said.

The businessman has also invested in the French media, a move he described during a Senate hearing in January 2022 as “more on the patronage side”.

During a hearing in the French Senate earlier this year Arnault said he had intervened to stop LVMH advertising in the Liberation newspaper, after it irked him with a front-page article.

‘Invest in something promising’

Arnault was born in the northern French city of Roubaix on March 5, 1949 and joined his father’s public works building company at the age of 22.

He had just left the elite Ecole Polytechnique and convinced his father to transform the construction business into real-estate development instead.

In 1981, after socialist Francois Mitterrand was elected president, Arnault left France for the United States.

On his return three years later, he bought the debt-ridden textiles company Boussac, prevailing against several serious competitors with a promise to save jobs.

However, he embarked on a drastic reorganisation of the firm, only retaining some of its businesses, including the fashion house Christian Dior.

By then, Arnault was 35 years old.

“My father was surprised when I went to see him saying: ‘We’re going to redirect the family group and try to invest in something more promising, Christian Dior’,” the businessman recalled recently on Radio Classique.

It would be the foundation stone for his luxury empire.

LVMH was born out of the merger in 1987 of trunk-maker Louis Vuitton and the wines and spirits group Moet Hennessy.

Rivalry between the families owning the two companies aided Arnault’s ascendancy and he took control of the group in 1989 after no fewer than 17 legal proceedings.

“He’s a tough negotiator but unmatched, a visionary who knows how to surround himself with good people and who in the end always gets his way one way or another,” Arnaud Cadart, portfolio manager at financial services firm Flornoy, told AFP.

Arnault’s rise, however, has not been without some failures.

In this file photo taken on September 21, 2021 Head of LVMH luxury group, Bernard Arnault (C), his daughter Louis Vuitton Executive vice president Delphine Arnault (L) and his son LVMH Communications head Antoine Arnault (R) arrive to open the exhibition of ‘The Morozov Collection, Icons of Modern Art’ at Fondation Louis Vuitton in Paris. (Photo by Yoan VALAT / POOL / AFP)
Corporate criticisms

He lost Italian fashion and leather goods house Gucci to his French rival Francois Pinault, head of the PPR group, in 1999.

Arnault also tried in vain to take over Hermes, known for its silk scarves and leather handbags, by secretly building up a stake in the firm.

He rarely speaks publicly and does not like the limelight.

When the use of private jets by celebrities was being tracked on social media earlier this year, Arnault sold the LVMH jet.

“The upshot now is that no one else can know where I’m going because I lease planes,” he said on Radio Classique.

“It’s the French businessman’s lot to embody — sometimes in a totally unjustified way — the criticisms of the day since the mindset has for a few years now been a bit anti-corporate,” he lamented on France 2 in 2016.

That same year he was skewered in a satirical documentary entitled “Merci Patron!” (Thank you Boss!) by filmmaker and now politician Francois Ruffin, who often has Arnault in his crosshairs.

Obama, Putin, Trump, Macron… 

Last year, LVMH paid a 10-million-euro fine to settle a case as part of a probe into spying.

Arnault abandoned his bid to secure Belgian nationality in 2013 issuing a mea culpa after it whipped up a storm of controversy which rumbled on for months amid public debate over the tax arrangements of the wealthy.

In 2011, he was received at the White House by president Barack Obama; Russian President Vladimir Putin welcomed him to Moscow five years later; former French president Francois Hollande cut the ribbon on his Louis Vuitton Foundation, while Donald Trump did the same for a Vuitton workshop in Texas.

And when the historic Samaritaine department store, owned by LVMH, reopened last year, French President Emmanuel Macron was a guest at the inauguration.

In Japan, China and the Middle East, the luxury mogul has access to top leaders.

Arnault has five children, all of whom work for LVMH, but shows little sign of slowing down — or handing over the reins just yet.

Every week he makes a point of touring all the group’s Paris-based companies.

At its last general meeting, the age limit for his role as LVMH chief executive was extended to 80 years old, ensuring the luxury conglomerate stays in family hands.

Married to a pianist and art lover, Arnault also created the Louis Vuitton Foundation, one of Paris’ most prestigious exhibition locations for contemporary art.

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CULTURE

Listings: French films with English subtitles during the Olympics

Lost in Frenchlation – the cinema club that screens French films with English subtitles – is screening a film a day in Paris throughout the Olympic Games.

Listings: French films with English subtitles during the Olympics

A sporting event gets under way in Paris next month. You might have heard about it. But, if you’re getting fed-up of repeated mentions of the 2024 Paris Olympic Games and wondering what you can do instead of watching wall-to-wall sporting events, worry not – the good people of Lost in Frenchlation have you covered.

They have put together a veritable Olympian schedule of French films with English subtitles to give your cultural muscles a bit of a workout – with an emphasis on films about sport and films about Paris.

The cinematic Olympiad includes two screenings of the ever-popular Audrey Tatou movie Amélie (or Le Fabuleux Destin d’Amélie Poulain, to use its full titl)e; Le Grand Bain, a film described as Full Monty in Speedos; Jean-Luc Godard’s classic À bout de Souffle; this year’s Oscar-winning Anatomie d’une Chute; and, from the never-less-than-fun Asterix series, the perfectly appropriate Asterix aux JO.

The full Olympics’ programme is here:

La Petite Vadrouille 

July 22nd and August 3rd @ Cinéma du Panthéon, 13 rue Victor Cousin, Paris

Tickets – Ranging from €5 to €9.50. You can purchase them HERE

This French comedy by Bruno Podalydès tells the story of a group of friends who attempt to solve their money problems by organising a fake romantic cruise for their wealthy friend, Franck, who wants to seduce a woman.

Le Genou de Claire

July 23rd @ L’Epée de Bois, 100 Rue Mouffetard, Paris

Tickets – Can be purchased on site. They will range from €5 to €9.90.

Directed by Eric Rohmer, the film follows the story of Jérôme, a diplomat and writer living in Sweden, as he prepares to get married. Before the wedding, he decides to take a trip alone to Annecy in France, where he runs into Aurora, a Romanian novelist he had met while working at the French embassy in Bucharest. 

Anatomie d’une Chute

July 24th @ L’Ecran St Denis, 14 Pass. de l’Aqueduc, Saint-Denis

Tickets – Ranging from €4 to €7.50. Can be purchased here

August 8th @ Luminor Hôtel de Ville 20, rue du temple, Paris

Tickets – Ranging from €7 to €11. Purchased here.

The film follows Sandra, a German writer, her French husband Samuel, and their eleven-year-old son Daniel who live a secluded life in the French Alps.

When Samuel dies unexpectedly, Sandra is suspected of having played a role in his death. She tries to prove her innocence, but throughout the trial, the intimate details of the couple’s life together are uncovered.

Les Crevettes Pailletées

July 25th @ Luminor Hôtel de Ville 20, rue du temple, Paris

Tickets – Can be purchased here. Ranging from €7 to €11.

An LGBT comedy, the film follows a homophobic coach who is forced to coach a gay water polo team. Together, they travel to Croatia for the ‘Gay Games,’ the largest LGBT sporting event in the world. 

L’Esprit Coubertin

July 27th @ Cinéma du Panthéon, 13 rue Victor Cousin, Paris

Tickets – Can be purchased here. Ranging from €5 to €9.50.

August 4th @ Luminor Hôtel de Ville 20 rue du temple, Paris

Tickets – You can purchase them here. Tickets range from €7 to €11.

A comedy by director Jérémie Sein, the film tells the story of the French Olympic delegation 10 days into the competition. Without any gold medals, the delegation places all of their hope on Paul, an exceptional, yet immature sports shooter. As the big day approaches, Paul finds himself forced to share a room with Jacob, a swimmer who is more focused on the extra-curricular temptations at the athletes’ village than his own race.

La Revanche des Crevettes Pailletées

July 28th @ Luminor Hôtel de Ville, 20 rue du temple, Paris

Tickets – You can purchase them here. Ranging from €7 to €11.

Another LGBT comedy directed by Cédric Le Gallo and Maxime Govare. It will be the sequel to the 2019 film Les crevettes pailletées (The Shiny Shrimps). 

This next instalment will follow the team as they try to make their way to a competition in Tokyo, only to be derailed by a missing their connecting flight, forcing the team to pass through a very homophobic region in Russia.

Amélie (Le Fabuleux Destin d’Amélie Poulain)

July 29th @ Cinéma du Panthéon, 13 rue Victor Cousin, Paris

Tickets – Can be purchased here. Ranging from €5 to €9.50.

August 7th @ L’Ecran Saint-Denis, 14 Pass. de l’Aqueduc, Saint-Denis

Tickets – Can be purchased here. Ranging from €4 to €7.50.

The whimsical romantic comedy follows a shy Parisian waitress who spends most of her time imagining about the people around her. One day, she decides to step in and attempt to discretely help others find happiness.

Pauline à la plage

July 30th, 8pm @ L’Epée de Bois, 100 Rue Mouffetard, Paris

Tickets – Can be purchased on site. Ranging from  €5 to €9.90.

The film follows the recent divorcée Marion, and her younger cousin Pauline as they go on vacation to their family home in Normandy. During the trip, they run into Marion’s ex-lover Pierre, who introduces them to Henri. As their love lives become entangled, the situation becomes more complicated.

Le Comte de Monte Cristo

July 31st @ L’Ecran Saint-Denis, 14 Pass. de l’Aqueduc, Saint-Denis, France

Tickets – Purchase them here. Ranging from €4 to €7.50. 

Based on the classic novel by Alexandre Dumas, the film follows the story of Edmond Dantès, a French 19-year-old first mate of the merchant ship Pharaon, who is falsely accused of treason and imprisoned at an island fortress off the coast of Marseille. After 14 years he manages to escape, taking on the identity of the ‘Count of Monte Cristo’ and attempting to take revenge on those who betrayed him.

Le Grand Bain

August 1st @ Luminor Hôtel de Ville, 20 rue du temple, Paris

Tickets – Purchase tickets here. Ranging from €7 to €11.

August 10th @ Cinéma du Panthéon, 13 rue Victor Cousin, Paris, France

Tickets – Purchase tickets here. Ranging from €5 to €9.50.

Directed by Gilles Lellouche, the film tells the stories of several swimmers who train at their local municipal swimming pool. One day, they decide to take on the challenge of synchronized swimming, which helps them find meaning in their lives.

Cléo de 5 à 7

August 2nd @ L’Entrepôt, 7 rue Francis de Pressensé, Paris

Tickets – Purchase them here. Ranging from €5 to €8.50.

Directed by the legendary Agnès Varda, the film follows Cléo for a snippet of her life – just 90 minutes – as she waits for the results of a biopsy in Paris. 

Marinette

August 5th @ Cinéma du Panthéon, 13 rue Victor Cousin, Paris

Tickets – Purchase them here. Ranging from €5 to €9.50. 

The film tells the story of a female football player, Marinette Pichon, as she overcomes difficulties in her private life to become a champion and example for girls everywhere.

Conte d’été

August 6th @ L’Epée de Bois, 100 Rue Mouffetard, Paris

Tickets – Can be purchased on site, ranging from €5 to €9.90.

Directed by Eric Rohmer, the film follows Gaspard during the summer holidays, as he tries to decide between three girls he is interested in: Léna, Margot and Solène. 

À bout de Souffle (Breathless)

August 9th @ L’Entrepôt, 7 rue Francis de Pressensé, Paris

Tickets – From €5 to €8.50. Purchased here.

The classic film directed by Jean-Luc Godard, it tells the story of a cocky young boy, Michel Poiccard, who steals a car in Marseille and tries to make his way to Paris. Along the road, he is stopped by a policeman and ends up killing him. Once he gets to Paris he meets an American student named Patricia, who he falls in love with, but Patricia eventually learns about Michel’s dealings.

Asterix aux JO

August 11th @ Luminor Hôtel de Ville, 20 rue du temple, Paris

Tickets – Ranging from €7 to €11. Purchase them here.

Follow France’s favourite heroes, Asterix and Obelix, as they travel to Greece to compete in the Olympic Games. They also face off against Machiavellian Brutus, the son of Caesar.

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