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Luxury Leader Bernard Arnault Grows Richer

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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

PixelSky Capital Unveils INR 400 Crore Secondaries Fund

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Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.

 

The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.

 

Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio

 

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Meta’s Upcoming AR Glasses: A Sneak Peek

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Meta is developing its first true AR glasses, set to launch in 2027. Before the public release, employees will test the device starting in 2024. The company is also releasing new generations of Ray-Ban smart glasses in 2023 and 2025 with enhanced features like a “viewfinder” display.

Specifications and Features

The AR glasses are expected to feature OLED displays and Qualcomm Snapdragon chipsets, offering sophisticated AR and AI capabilities. They will enable users to interact with virtual objects and project high-quality holograms of avatars onto the real world.

Design and Competition

Meta aims for a sleek design, potentially building on its Ray-Ban partnerships. The AR glasses market is competitive, with Apple and Google also investing heavily. Meta seeks to make its AR glasses a game-changer by offering a unique user experience.

Future Plans

In addition to AR glasses, Meta is expanding its VR offerings with new headsets like the Quest 3 and exploring other wearable technologies. The company is focused on reducing costs to make the AR glasses more consumer-friendly by launch.

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.

MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.

As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.

This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service

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