Bernard the Billionaire

Bernard the Billionnaire is into the detail. Bernard Arnault is the richest man in France, as the chairman of the LVMH group of companies he built it into a multi-brand luxury conglomerate during the 1990s.

Due to its diversification across multiple industries such as fashion, fine wine and spirits the group’s profit has managed to remain flat despite the global recession and a 35% drop in Champagne sales since the beginning of this year.

Arnault has been astute and made the most of any possible economies of scale across his stable of star brands in everything from sourcing materials to negotiating advertising space and retail space in shopping centres. His business philosophy is simply patience and nurture the brand whilst his strategy is continued investment in the product – check out the full low down on “Being Bernard Arnault” in May 2009 edition of The Australian Wish Magazine.

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