Value, Royalty, Marketing and Dynasty

Continuation of Superficiality and Excellence?

How the Wealthiest Market Value

A subtle reference in Prince Harry’s book?Spare?evidences how royalty derive income from marketing the products of the wealthiest. In his book, Harry refers to the kindness of his grandfather who held his knee while telling Harry of the death of his mother, calling him "darling boy." Harry reminded me of my grandfather as they both loved the sport of rugby. Harry refers to his grandfather. Prince Phillip, as being constantly drenched in Eau Sauvage by Dior. This reminded me of Queen Elizabeth’s making reference to Laurent Perrier as being her favorite champagne. Two additional and supportive references come to mind:

*Julian Fellowes’ Downton Abbey book of menus could have been written by Escoffier,

one of the great French chefs, who introduced military standards and discipline to French cuisine, standards which a British elite have respected, admired and relished.?

LVMH

Wikipedia: Louis Vuitton Mo?t Hennessy, commonly known as?LVMH, is a European?multinational?holding?and conglomerate specializing in?luxury goods, headquartered in?Paris.[3] The company was formed in 1987 through the merger of?fashion house?Louis Vuitton?(founded in 1854) with Mo?t Hennessy, which was established following the 1971?merger?between the?champagne?producer?Mo?t & Chandon?(founded in 1743) and the?cognac?producer?Hennessy?(founded in 1765).[4][5][6] In 2021, with a valuation of $329 billion, LVMH became the most valuable company in Europe.[7]

LVMH Shuffles Leadership at Dior and Louis Vuitton, Its Top Brands

The company’s chairman, Bernard Arnault, continues to promote his children to the luxury goods group’s key posts.

Bernard Arnault, the chief executive of LVMH,?appointed his daughter, Delphine Arnault, to run Dior, the company’s second-largest brand.

Credit...Eric Piermont/Agence France-Presse — Getty Images

By?Elizabeth Paton - Published Jan. 11, 2023 - Updated Jan. 13, 2023

The New York Times?

A new year brings a leadership shuffle to the ranks of Louis Vuitton Mo?t Hennessey, the world’s largest luxury goods group by sales, as its chairman and chief executive, Bernard Arnault, continues to promote his children to key posts within his empire.

Mr. Arnault, the world’s richest person, appointed his daughter, Delphine Arnault, to run Dior, LVMH’s second-largest brand. Pietro Beccari, who has been Dior chief executive since 2018, was named the chief executive of LVMH’s flagship brand, Louis Vuitton, which accounts for almost two-thirds of the company’s annual operating profit.

Michael Burke, the longtime Louis Vuitton chief executive and one of Mr. Arnault’s longest-serving executives, will remain at the group and continue to work alongside Mr. Arnault, the company said in a statement, without detailing his new role.

The appointments were?first reported by Miss Tweed.?They are the latest moves by Mr. Arnault, LVMH’s 73-year-old chairman, to secure a succession plan at the luxury group by putting his children in key executive roles.

Ms. Arnault, 47, worked at Louis Vuitton for the past decade alongside Mr. Burke and previously spent a dozen years at Dior. Antoine Arnault, 45, is chief executive of Christian Dior SE, the holding company through which the Arnaults control LVMH. Alexandre Arnault, 30, is the executive vice president of product and communications at Tiffany & Company. Frédéric Arnault, 27, is the chief executive of TAG Heuer. Jean Arnault, 24, was promoted in November to the role of watches director at Louis Vuitton.

“Succession planning in strategic roles has been instrumental to the success of LVMH’s key brands over the past 20 years, hence today’s moves are significant,” said Thomas Chauvet, head of luxury goods equity research at Citi.

LVMH recorded revenue of 56.5 billion euros, or $55.1 billion, for the first nine months of last year and is set to publish its full year results for 2022 at the end of this month. Its stock gained nearly 2 percent in morning trading Paris on Wednesday, and is up more than 11 percent in 2023, adding nearly $40 billion in market capitalization.