It's almost impossible not to encounter Bernard Arnault these days, at least in a figurative sense. The 75-year-old «Président-directeur général» and major shareholder of LVMH is omnipresent.

The economic platform Bloomberg visited him a week ago in his office at LVMH's headquarters on Paris' Avenue Montaigne. The result of the visit: an epic portrait (article behind a paywall). LVMH has also bought its way into the 2024 Summer Olympics in Paris as a main sponsor for 150 million euros.

In the Cathedral

Even the restoration of the «Notre-Dame de Paris» cathedral after a fire: supported by Arnault and LVMH with 200 million euros.

And LVMH's products are inescapable: Louis Vuitton in leather goods and fashion. Krug, Ruinart, Veuve Clicquot, and Moët & Chandon in champagne. Hublot, TAG Heuer, and Zenith in watches. Plus Rimowa, Bulgari, Fendi, Loro Piana, Sephora, Château Cheval Blanc...

«Empire Builder»

The list goes on. Occasionally, it gets longer. In 2021, LVMH bought the American jewelry company Tiffany for nearly $16 billion US dollars.

And apparently, the appetite of the «Empire Builder» in the luxury goods sector is far from sated. According to Bloomberg, Arnault has personally, not through LVMH, acquired a small stake in Richemont.

Crown Jewel Cartier

The Swiss-domiciled luxury goods conglomerate, built by Johan Rupert, is about four times smaller than LVMH. Its crown jewels include Cartier – a strong, exclusive, and French «Maison" in the jewelry sector, which is currently missing from the LVMH conglomerate.

Richemont, valued at 76 billion francs on the stock market, also includes numerous Swiss watch brands like IWC Schaffhausen, Jaeger-LeCoultre, Vacheron Constantin, and Baume & Mercier.

«I Will Be There»

A few months ago, Arnault cryptically prophesied: If Richemont doyen Rupert needs his support «to maintain his independence, I will be there.»

An acquisition or merger would cement LVMH's dominance and extend it to the realm of so-called hard luxury goods: watches and jewelry. These have fared better in recent upheavals due to Chinese consumer restraint compared to soft luxury goods (leather goods and fashion).