In This Article:
BUSINESS UNUSUAL: Hailed as “one of the world’s most transformative entrepreneurs,” French luxury titan Bernard Arnault was handed the Malcolm S. Forbes Lifetime Achievement Award during a ceremony Wednesday in Bangkok.
Chairman and chief executive officer of LVMH Moët Hennessy Louis Vuitton, Arnault called receiving the award “a wonderful acknowledgement of the decades-long pursuit of creativity, innovation and the entrepreneurial spirit that fuels our passion for product quality and desirability across the LVMH Group.”
More from WWD
-
EXCLUSIVE: Moynat Tapped a Legendary Graphic Artist for Its Holiday Capsule
-
EXCLUSIVE: A.P.C. Names New Chief as Owner L Catterton Gears Up for Growth
-
Bulgari Adds Métiers d'Art Workshop to Watch Factory in Switzerland
He added that he received the recognition “in the spirit of the strong family ethos that drives both our companies, and which I consider to be a unique advantage in the present and the future success of each of our 75-plus LVMH maisons.”
The vast conglomerate shelters such marquee names as Dior, Louis Vuitton, Loro Piana, Fendi, Tiffany & Co., Dom Perignon, Guerlain, Tag Heuer, Bulgari, Sephora, Hennessy, Ruinart, Chateau d’Yquem and Le Bon Marché.
Arnault “is a pioneer whose strategic vision and acumen — as demonstrated by the various acquisitions of prestigious brands — have not only propelled LVMH to great business success but have also redefined the luxury industry on a global scale,” according to Forbes chairman and editor in chief Steve Forbes.
The award is given each year to a business leader who embodies and exemplifies the ideals of free enterprise.
Past recipients of the include Jack Ma, founder of Alibaba Group; S. Robson Walton, longtime chairman of the board of Walmart Stores Inc., and Mexican business magnate Carlos Slim Helú, once a prominent investor in Saks Inc.
After receiving the award, Arnault spoke about how CEOs must be passionate in order to learn, improve and thrive.
“Challenging ourselves, and the teams that we lead, is a proven way of ensuring continuous evolution and improvement in any organization,” he said in a keynote address, noting that each of his five children are “actively and passionately engaged in the growth and development of our business.”
“In my opinion, there is no better structure than one of engaged family stewardship, capable of absorbing bumps on the road, capable of following a century-long strategic roadmap, without being compelled to deviate by temporary setbacks or short-term febrility,” he said.
Best of WWD
Sign up for WWD's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.