The situation on the technology field is changing too quickly. Here the United States is desperate for 5G and China, for fear that China will surpass itself and take the hat of the world’s boss. There Japan hastily announced its intention to achieve 6G by 2030. The science and technology field is as bloody as the ancient Roman Colosseum, but it does not dare to relax in the slightest, and is afraid that it will kiss the burial tiger if it is careless.
In contrast, the fashion industry, which is also known for its transformation, is not as blood-drenched as the technology field. However, this does not mean that there is no possibility of a thunderstorm in a more peaceful place. After all, the heart of beauty and ostentation is the eternal need of mankind, and the place of vanity surging is never the lack of money. Moving voice. This is not the last time we wrote the head of the LV Group Berna Arnold (Bernard Arnault) surpassed Besso with a worth of 116.5 billion Sri Lanka, once again became the richest man in the world.
Arnold proud of the spring breeze, after only a few hours on December 16, 2019, once again passed Bezos with a difference of 1 billion US dollars. One billion US dollars may be a big number in the eyes of ordinary people, but in the eyes of predators of this level, it is really nothing. After all, to their level, making money has become a number game, more of an intellectual contest.
This six-foot-inch, well-dressed man with a subtle smile on his lips is always a gentleman. It looks like a gentleman on the surface. But as long as you have a little research on his founding history, you will go beyond that deceptive appearance, notice his sharp eyes and the seemingly sloppy smile. Look around to get the information quickly, and then let yourself jump up like a leopard at the necessary moment, and you will get a hit.
Extraordinary brain power, plus extraordinary energy, 70-year-old Bernard Arnold (Bernard Arnault) Like the elderlySlackness. Working 24 hours as usual, even in the dream is constantly producing ideas. In October 2019, he won the Tiffany Blue for $ 16.2 billion.
The introverted Bernard Arnault is proud of Trump ’s arrogant Trump. Who do you think is better than doing business?
But before the acquisition, he told Trump in an understatement that he planned to “acquire something in the United States.” The harder you start, the more relaxed your mouth is. Just like his favorite cashmere sweater (Cashmere) , it looks ordinary on the surface, but the boutique is really gold.
Xiu Feng Xin Sheng
Bernard’s origin is today’s rich second generation. But this second generation is not the other. After all, the number of people who can “pass” their dad with their strengths shortly after their debut can be counted around the world with their fingers.
The Arnault family business was originally in the construction sector, and its main business was to build factories for customers and profit from them. The Arnault family business runs smoothly and is well-known locally. But when Bernard entered the family business, he found that relying on building factories for customersProfits and profits are too thin, and it is difficult to get back money, and it is difficult to make great progress. I suggested to my dad: adjust the business structure, remove the current main business-industrial construction, and start the real estate business. The old Arnault didn’t take his son’s words seriously at first. Seeing that the persuasive Bernard convinced the old man, he went to privately persuade the important backbone of the old man, and finally the old Arnault obeyed his suggestion with the enclosing trend.
Seeing here, if you think this is just a dog-blood drama that is not performed by Xiaozi for persuading his father to take advantage, you can rest. Bernard’s hand brought a cash flow of four million francs to the family business. (cash is King) , and after the company’s business adjustment, the previous More than a thousand employees were cut to less than a hundred, and the cost was greatly reduced. After marching into the real estate development business, it even made a mess. Such a talent could not be suppressed at all, and finally Bernard’s grandmother came forward to transfer her shares to the grandson’s name. At this point, Bernard, 28, has become the de facto head of the family business, and this is only the eighth year he has entered the family business.
Enter the fashion world
In 1981, Francois Mitterrand, who was suffering from cancer, defeated the then president, Giscar Destin, and became France’s first Socialist president. The French government began to transition to populism. A series of policies pursued by the French government at the time, such as increasing minimum income guarantees, setting the age of 60 as a statutory retirement age, 39 hours of work per week, five weeks of paid holidays each year, the first establishment of a wealthy tax, and the nationalization of half of the banks, And most large industrial companies (L’Oreal was almost state-owned) , etc. This series of measures has seriously affected the interests of capital. In desperation, Bernard had to travel to the United States with his family and set up a “Ferret-Savinel” branch in Florida, which took root in the United States.
The nature of capital is to seek advantage and avoid harm, and this is not the only time Bernardt has fled France due to policy reasons. Bernard immigrated to Belgium in 2012 for tax avoidance. At that time, the French left-leaning newspaper “Liberation News” was furious with “Casse-toi, riche con!” You filthy rich man “) put Bernard’s practice on the headlines and flogged, and finally the immigrants were rejected.
A few years later, Francois Mitterrand’s economic reforms failed, and the government began to loosen capital from capital. Bernard was able to return to France again, but this return has begun, but it has begun his conquest of sweeping the fashion circle. It is said that as soon as Bernard left the airport, he received news that the textile company Boussac Saint-Frères owed 3.6 billion francs for bankruptcy for sale. With the merchant’s keen sense of smell and his potential judgment on its brand Dior, Bernard realized that this was a golden opportunity to step in.
Boussac Saint-Frères, which was taken over by the French government at that time, although in an awkward position (a huge debt, the warehouse is full of out-of-season clothing, with 30,000 In addition to the strike due to wage arrears, the government also mandated that the acquired company must retain most of its employees) , but still attracted several very strong bidders, including the well-known LV Group. But Bernard’s first wife, Anne DeWavlin, happened to be the cousin of the bankruptcy owner. Near the water platform, the first month, Bernard preferred to buy shares from him.
Subsequently, Bernard, in the name of his maintenance company, persuaded the French government to sell him the rest, and quickly joined the French Lazard bank manager and two oil industry investors to invest in the family business. All 150 million francs were invested, and the Boussac Group was won with a subscription price of 400 million francs.
Note that at this time, Dior is only holding fashion and leather goods. It’s already 2017 that Bernard wants to eat Dior in full.
Bernard, who won Boussac, will give full play to the spirit of the contractor. He will be demolished in succession within the group, and the surplus assets will be gradually stripped and sold, leaving only the high-content LaBonMarche department store and Dior brand. The promise not to dismiss workers was also quietly torn, more than 8,000 workers were dismissed in batches, and the group’s debt was reduced to 1.7 billion francs. The financial appearance of the group has improved accordingly, and the stocks have risen successively, with the company’s market value reaching 8 billion francs at the highest time. The sell-off made Bernard one of France’s richest men, and he and three other investors made four times as much in the business. (The government eventually forced him to repay about $ 60 million invested in the company.)
Marc Bohan was embarrassed by the resignation. Marc Bohan learned that he had been fired when a reporter called to verify the information. Marc Bohan later recalled: “Suddenly, I was kicked out coldly, as if I was just an incompetent servant.” But this was not a tragedy for Marc Bohan alone, and Hubert de Givenchy was treated the same later. For old Europeans who pay attention to gentlemanliness, Bernard’s American-style 100% capitalist approach is too cruel, but for Bernard, it’s just business talk.
During this cleaning, Dior, who was “old-netted” in the eyes of the French at the time, could not escape Bernard’s drastic changes. Bernard fired Saint Laurent’s successor Marc Bohan directly without saying hello, and despite the opposition, Gianfra, a designer from Italy who had studied architecturenco Ferre is in charge of Dior. Facts have proved that Bernard’s vision is indeed superior, Gianfranco Ferre combines Italian passion and boldness with French romantic luxury, and frees Dior from the previously unrelenting dignity “binding”.
Ferre is unique in expressing femininity. The lines are exaggerated and simple, but it can perfectly set off the femininity. It can be said that he will “fashion is a mobile building”This famous quote is perfect.
Bernard is a businessman. Businessmen are talking about business, but it is undeniable that he does have a special preference for Dior, even the other cash cow he has mastered-LVMH. Whether he dedicated himself to acquiring Dior for more than three decades, or he let Dior, a single-family owner, control 42.42% of the shares of his most famous group company, LVMH, his deep love for Dior is behind all these measures.
No picture, no truth. The main idea is as described above. Dior controls 42.42% of LVMH through his wholly-owned Financière Jean Goujon company. Of course, the big guy behind Dior and LVMH Group is still Arnault Group. But Bernard can make his most famous group under the control of Dior, which is not love? (screenshot from The Fashion Law)
It is said that Bernard was once asked if he would sell Dior if he was willing to pay a high price, and Bernard directly rejected it as “it is priceless”. Getting Bernard so beloved is naturally related to Dior’s own strong business value. But it is not an exaggeration to say that the acquisition of Dior started the conquest of Bernard’s fashion empire. You know that Bernard was able to eat LVMH, and there was also a shadow of Dior behind it.
Envy LVMH
As Bernard acquires Boussac in full swing and reorganizes the interior of Dior, Louis Vuitton and Moët Hennessy Group, which are trapped in the future, are moving towards the merger under the cooperation of the French government, and LVMH Group is established.
However, the team battle of Moët Hennessy of the noble gene and Louis Vuitton of civilian origin is not as smooth as imagined. From product planning and brand layout to the design of a stationery, it can be endless. , Just scrambled for BB King. Seems to be insignificant, but there are large groups on both sides, behind which there is a large group of inevitable family interests. In the face of such a huge cake, how can I not want to swallow it alone?
But the point is that it is always good to have dreams, and tragedy when Lou Zi is met. In order to drive the opponent away, Henry Racamier, the vice chairman of LVMH, the president of Louis Vuitton, took the Dior perfume business in the hands of LVMH Group as a bait, and pulled in Bernard, who was determined to make great progress in the fashion field. In Henry Racamier’s view, this young man who looks like himself can help him settle Alain Chevalier. After all, Bernard successfully acquired other business of Boussac Group, or he introduced some financial giants including the President of BNP Paribas for the other party.
LV boss Henry Racamier, President of Moët Hennessy Alain Chevalier, Bernard
Alain Chevalier, President of Moët Hennessy, also secretly invited the British Guinness Group to take a stake in it to increase the overseas marketing volume of drinks and beverages, and increase Moet Hennessy’s revenue share in the LVMH Group, thereby controlling the situation. Unexpectedly the latter betrayed him without blinking his eyes,Co-founded Bernard to form a company with a 40% stake, and it was this company that made Bernard a huge contribution to LVMH’s stock on Wall Street in 1987.
Because of the stock market disaster, LVMH Group’s stock price plummeted by more than 70%. Many small and medium shareholders who were tired of the power dispute between the two major holding families proposed to introduce a third force.
Bernard has already taken advantage of the plunge of LVMH shares through shell companies and joint ventures with Guinness, and quietly contacted Alain Chevalier, and finally entered the board of directors as an alliance. Become the third force to check and balance the two major groups. Later, he persuaded BNP Paribas to receive financial support from the LVMH group. In the end, Bernard took control of LVMH in his own hands with a 45% stake.
After controlling the LVMH Group, Bernard kicked Alain Chevalier and Henry Racamier away, personally served as the Chairman and CEO of the Group, and invited his father to the company as the Chairman of the Supervisory Board. Exile and squeeze. In terms of business, Bernard allowed Louis Vuitton and Moët Hennessy to achieve a true merger and restructure the group’s overall structure. Moët Hennessy, Louis Vuitton Holdings and France’s fourth-largest champagne maker acquired soon, Champagne (Veuve Clicquot) Drinks and beverages division; Dior Perfume, former subsidiary of Louis Vuitton Givenchy and Guerlain perfumes are all under the perfume division of LVMH
In the next few years, Henry Racamier also sued Bernard under a number of financial frauds and dishonesty. It was once a roar, and even Francois Mitterrand, then president of France, also made a television speech. Speaking of the “Louis Vuitton incident”. However, Henry Racamier is finally powerless (Louis Vuitton only accounts for 17% in the LVMH group) , his old opponents did not ask him, and got Bernard, supported by the Moët Hennessy family, has gradually eliminated Louis Vuitton’s executives in the LVMH group. At this point, the entire group was firmly in the hands of Bernard.
Over the next 30 years, LVMH Group has reached the top of the global luxury goods industry under the leadership of Bernard. At the peak of the group, two other fashion group giants Kering Group and Richemont Group could not do LVMH Group. LVMH is also the only group covering five major areas of the luxury market. (Wine & Spirits, Fashion & Leather Goods, Perfume & Cosmetics, Watches, Jewelry & High-end Retail) (Dior, LV, Gucci, Hermès, CHANEL) . According to the latest data, LVMH achieved sales revenue of 46.8 billion euros in 2018, an increase of 10% year-on-year, and an operating margin of 21.4%, both hitting a record high.
“Luxury! One wrote: “Henry Racamier took Louis Vuitton’s career off, but it was Bernard Arnault who took Louis Vuitton and the entire LVMH Group to the next level.” His motive is simple: Only the luxury industry can make you luxurious Make money. With each new brand, Arnott can find opportunities to make money. His luxury business operation model is “emphasizing the eternality of the brand, making the design lively, and then advertising crazy.” So we were subtly influenced by media reports, various advertisements, and event sponsorships, passively learning about Louis Vuitton’s century-old history, luggage stories, and embossed canvases …
Different big cards, the same dad
With such achievements, his vision, his means, and his cold blood are indispensable. Although a large group of people criticized him, saying that he was a cuckoo and liked to occupy people’s lairs, instead of building (his own brand) . Bernard believes that brand aggregation is a trend, and the reason is simple. To enter the world market on a global scale, greater investment is required. “It ’s very difficult to rely on a single brand,” he said. When you buy a Dom Pérignon or Dior perfume, or an LV bag, you do n’t know it belongs to the same group. Only in the background can you discover that economies of scale are the foundation of our success.
He did not build any brand, but he no doubt knows how to maximize the commercial value of these brands. He is obsessed with tracking his top brands, especially the group’s top cash dispenser LV (In 2018, LV accounted for the entire group’s revenue with 54 billion revenues A quarter, with a profit of 47%) . Every Saturday, he walks around his retail store, rearranges the display of handbags, and relays the problems he observes to his top brand leader. He is said to be able to visit up to 25 stores in the morning, including competitors’ stores.
Some people say that MARC JACOBS loves to take off very much, his own brand promotion must be taken off, LV new product launch he needs to be completely naked, charity event poster shooting must also be naked .. Maybe, to make such a bold and bold design, hot is necessary?
High-intensity work brings more commercial acumen to Bernard. When he was sensitive and aware that the positioning of luxury and expensive luxury products was no longer suitable for the younger generation, he would choose to cooperate with avant-garde star designers in an effort to let the ancient brands develop new vitality on the basis of maintaining tradition. There are many such examples. For example, in 1997, he hired New York avant-garde designer Marc Jacobs as the creative director of LV. On this occasion, LV brought a series of unique designs with a modern atmosphere. Clothing, footwear, accessories, jewelry and other departments were successively established. From this, LV was promoted to a luxury brand of the entire category, and LV’s bold and bold image was established. During his ten-year tenure with Pony, LV’s revenue tripled.
For another example, John Galliano, his pirate grandfather, has served as Dior’s most artistic and dramatic creative director. He has a wicked existence. Dior in his hand changed the style of Zhuang Shuxiu, flashy and charming, like a blurred dream, moving people to suffocate. In his 15 years with Dior, the brand’s sales have quadrupled, with an average annual profit of 700 million euros.
But arrogant and unruly like Galliano, behind his wild creativity, Bernard still controls the general direction. After all, no matter how fantastic the design of fantasy art, ultimately it needs to return to the fundamental need for profit. Although Bernard would also say, “brand first, money second”, the logic behind it is still: to ensure that the brand’s tone remains the same, and you can make more sustainable luxury money.
In 2006, after Bernard benchmarked Dior with his main competitor Chanel, Bernard immediately asked Galliano to increase the proportion of the suit in the series, and to appear as a loose packaged hip suit that did not emphasize the figure, and expand the audience to achieve The purpose of competing with Chanel for cash. This directive, which is clearly inconsistent with Dior’s tradition and designer spirit, is still implemented.
The Wall Street Journal has an interview about Arnault. There was such a description, which can be used as a true description between the brand designer and the brand boss: Bernard was facing a red border when inspecting the early autumn collection at the Dior store. The canvas bag said, “Can you take it down? It’s not Dior at all, I don’t want to see it in the store.” And when watching the model show the new outfit, he suggested “why not put a black bud ribbon on the model’s eyes Also used in advertising “, Galliano’s answer is always:” As you wish, sir. “
A lot of people have criticized Bernard’s ruthless hotspots, but his hotspots really work wonders. LV, Celine, DonnaKaran, Loewe are all his beneficiaries. Someone has studied Bernard specifically, and found that he specifically likes