Owner of LVMH Luxury Group Bernard Arnault, Off-White founder Virgil Abloh and Louis Vuitton's ... [+] executive vice president Delphine Arnault Getty ImagesBillionaire Bernard Arnault has announced a post-pandemic growth spurt at his fashion-luxury empire LVMH—which owns brands like Louis Vuitton, Givenchy and Christian Dior—as plans for to grab even more of the market gather momentum. During the pandemic Bernard Arnault briefly became the world’s richest person when his estimated net worth hit $186.3 billion in late May this year. Arnault’s fortune rose from $76 billion in March 2020, and today sits at $191 billion, behind Amazon’s Jeff Bezos on $211 billion. LVMH analysts identified the move as a sign of Arnault’s business plan for the next decade. The arrival of his Off-White label under Arnault’s roof will give Abloh “a seat at the table,”he told the New York Times last week.

Source: Forbes July 26, 2021 19:07 UTC