LVMH CEO Bernard Arnault keeps adding his children to the company board, harkening back to the moves of media titan Logan Roy in HBO’s Succession.
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00:00LVMH CEO Bernard Arnault keeps adding his children to the company board,
00:04a similar strategy to media titan Logan Roy and HBO's Succession.
00:09Alexander Arnault and Frederic Arnault just joined the company's lineup
00:13after shareholders approved their nominations.
00:15They join the ranks of their three other siblings in expanding control in LVMH's empire,
00:20including the fresh-faced Jean Arnault, the head of Louis Vuitton's watch division,
00:25who was born in 1998.
00:27Although Jean doesn't hold a position on the company's board,
00:31he has been involved in the family business since 2017,
00:34when he was a Louis Vuitton sales associate.
00:36He's the director of marketing and development for the watches division.
00:40The average Louis Vuitton watch costs $20,000,
00:43and Jean's big test is whether he can convince Gen Z that the price tags are worth the investment.
00:49But Jean is keeping with the philosophy as traditional and conservative
00:52as the watch collecting industry as a whole.
00:55Luxury watches remain almost exclusively for the ultra-wealthy.