1 week Ago By Abigailtmontanez
Who will be Bernard Arnault ’s successor at LVMH ? One heir just got closer to the throne. Alexandre, the middle child of the French luxury goods billionaire, has been appointed as the new deputy CEO of the conglomerate’s Moët Hennessy division, Fortune reported . The 32-year-old, who was previously the executive vice president of product, communications, and industrial affairs at Tiffany & Co, will step into his senior role on February 1, 2025.
Most notably, the transition will solidify him as the first of the five Arnault siblings to head the group’s wines and spirits portfolio, which includes brands such as Krug, Veuve Clicquot, and Glenmorangie. “Four years ago, I had the privilege to help reimagine Tiffany & Co., one of the world’s most iconic brands,” Alexandre wrote in a post on X.
“Looking back, I am profoundly grateful to the remarkable Tiffany teams and friends of the brand who poured their passion and talent into this journey, helping us push boundaries and bring a new vision to life. Together, we’ve achieved milestones that I will carry with immense pride. “I’m excited to step into a new chapter within LVMH’s Wines & Spirits division, embracing this foundational part of our Group’s heritage.
My heart, however, will forever remain a shade of Tiffany blue—these years have shaped the person and leader I am today,” he continued. Alexandre originally took the job at Tiffany after a four-year stint as the CEO of the LVMH-owned luggage brand Rimowa. In a further shake up, the group’s longtime CFO Jean-Jacques Guiony will replace Philippe Schaus as the CEO of Moët Hennessy in an effort to reinvigorate the wines and spirits unit after it recorded a major slowdown in sales .
More specifically, there was a 9 percent revenue drop recorded in the first half of 2024, and sales of Champagne were down 12 percent during that same six-month period. In addition to a leadership shuffle, Moët Hennessy recently made a strategic investment by acquiring a minority stake in the alcohol-free sparkling wine brand French Bloom in a play to turn things around and expand its consumer reach. Back in August, the company also entered a partnership with Beyoncé to launch the singer’s SirDavis Whisky .
However, this isn’t the first time the Knowles-Carter clan has gotten involved with LVMH’s liquor segment. In 2021, the Arnaults bought a whopping 50 percent stake in Jay-Z ‘s champagne brand, Armand de Brignac..
