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Luxury Leader Bernard Arnault Grows Richer

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Luxury Leader Bernard Arnault Grows Richer,Startup Stories,Billionaire LVMH Chairman Bernard Arnault,Luxury Leader Bernard Arnault,richest person Bernard Arnault,LVMH Moët Hennessy CEO,world largest luxury goods company

Bernard Arnault is the chairman and CEO of LVMH Moët Hennessy, which is the world’s largest luxury goods company.  He is also the richest man in Europe with a net worth of $ 94.1 billion.  Bernard Arnault further expanded his existing fortune by adding $ 5.1 billion in October 2019, making his net worth $ 99.6 billion.

The rise in his fortune is all thanks to the strong sales at LVMH Moët Hennessy.  The luxury house reported its sales grew by 17 % in the third quarter of 2019. 

In 2019, LVMH faced a possible threat of decline in sales due to protests in Hong Kong, which slowed down the economy in China.  China is an important hotspot for many luxury brands as it contributes 5 % to 10 % of all global luxury sales, according to money management firm Bernstein Research.  Despite the threat, the Paris based luxury house still saw a rise in its sales worldwide, especially in Asia. 

According to reports released by LVMH, its sales grew by 12 % in Asia alone.  The Company further reported its fashion and leather goods division saw an increase by 19 %, which was led by Louis Vuitton and Christian Dior.  It also reported its makeup division did well, especially in China.

The main reason behind LVMH not facing any decrease in its sales is the large number of brands the Company owns.  LVMH has over 75 brands under its name, including Louis Vuitton, Versace, Fendi, Bulgari and Dior. Hence, any disruption in sales of any one brand will not affect the Company in any major manner.

This proved beneficial to Bernard Arnault as his fortune is growing with the rising sales of his Company.  Arnault became the third richest man in the world in June 2019. His net worth at the time was close to $ 100.4 billion.  However, due to a fall in shares, his net worth went below the $ 100 billion mark.  Now, with the rise in the sales of his Company, Bernard Arnault once more came closer to the centibillionaire status.

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Entrepreneur Stories

India’s Tech Story: Airtel Spreads AI Access, Ohm Mobility Lessons

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Airtel AI

Bharti Airtel has launched the innovative “Airtel-Perplexity Blueprint,” partnering with Perplexity to provide over 360 million customers free access to Perplexity Pro for a year—a benefit valued at ₹17,000 ($200). This collaboration enables Airtel users across mobile, broadband, and digital TV to harness advanced capabilities in generative AI, including leading AI models like GPT 4.1, Claude, and Gemini, along with up to 300 Pro searches daily, image generation, document analysis, and personalized planning services. The move is seen as a milestone for telecom innovation and the democratization of AI in India, making powerful research and productivity tools accessible to a massive user base.

This strategic partnership positions Airtel as an “AI-first” telecom provider, allowing it to gain key insights into user interactions with artificial intelligence and adapt its networks for growing digital demands. For Perplexity, the tie-up grants exclusive access to India’s vast telecom audience, rapidly propelling the app to the No. 1 spot on the Indian App Store, surpassing global competitors like ChatGPT and Google Gemini. Airtel customers can activate their complimentary subscription seamlessly through the Airtel Thanks App, under the Rewards and OTTs section, reinforcing Airtel’s commitment to digital customer empowerment.

The broader Indian startup ecosystem reflects both breakthrough innovation and hard-earned lessons, illustrated by the recent shutdown of Ohm Mobility, an EV financing startup. Despite multiple pivots and industry-leading investors, Ohm Mobility struggled to achieve a sustainable business model—a reminder of the challenges in market fit and adaptability. As AI adoption accelerates and startup realities evolve, industry leaders like Airtel and Perplexity are setting new standards, while others, like Ohm Mobility, offer valuable insights on resilience and the importance of business model flexibility in India’s dynamic tech landscape.

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Entrepreneur Stories

Tesla Secures Mumbai Facility as Key Step in India Market Entry

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Tesla StartupStories

Tesla has ramped up its India expansion by leasing a 24,565 sq ft warehouse at Lodha Logistics Park in Mumbai’s Kurla West. The five-year lease, registered on May 16, 2025, involves a total rent of over ₹24 crore, starting at ₹37.53 lakh per month with a 5% annual escalation. The facility includes two ground-floor units and 20 parking spots, with rent payments commencing June 1, 2025.

This warehouse will function as a key service center and garage for Tesla’s India operations, excluding bodywork and spray painting. The move supports Tesla’s preparations for its official market debut, expected in late 2025 or early 2026.

Tesla’s India rollout includes offices in Pune, flagship showrooms in Mumbai’s Bandra Kurla Complex (BKC) and Delhi-NCR, and co-working spaces in Mumbai. The new warehouse lease highlights Tesla’s commitment to building a robust infrastructure for sales, service, and delivery of electric vehicles and energy products across India.

While manufacturing plans are not yet confirmed, Tesla is reportedly exploring sites in Maharashtra for a potential assembly unit. The Mumbai warehouse lease marks a significant step in Tesla’s strategy to establish a strong presence in one of the world’s fastest-growing EV markets.

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Inverstors Stories

Info Edge Shareholders Approve ₹1,000 Crore Investment in New Venture Fund

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Info Edge

Info Edge (India) Ltd shareholders have overwhelmingly approved an investment of up to ₹1,000 crore in the company’s third venture capital fund, Info Edge Ventures Fund III. The proposal received near-unanimous backing, with 99.9995% of valid votes in favor out of 1,274 participants.

Smartweb Internet Services Ltd, a wholly owned Info Edge subsidiary, will act as sponsor and investment manager for the new fund. This move strengthens Info Edge’s commitment to backing early-stage startups and expanding its footprint in India’s venture capital landscape.

Info Edge has a strong track record as an early investor in leading Indian startups like Zomato and PB Fintech, with combined holdings in these firms valued at ₹31,500 crore ($3.7 billion) as of March 31, 2025.

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