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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

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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Entrepreneur Stories

Strategic Shift: Nazara Sells Entire Stake in Sports Unity Amid Financial Challenges

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Strategic Shift: Nazara Sells Entire Stake in Sports Unity Amid Financial Challenges

Nazara Technologies has sold its entire 71.54% stake in Sports Unity Private Limited, the company behind the multiplayer quiz game ‘Qunami’, for INR 7.15 lakh. This divestment, effective March 25, 2025, signifies a strategic shift for Nazara, which had previously acquired a controlling interest in Sports Unity in 2019 for INR 7.5 crore.

The decision to offload the stake comes as Sports Unity has faced financial difficulties, reporting no active business operations and a negative net worth of INR 0.45 crore at the end of FY24. This move aligns with Nazara’s broader strategy to streamline its operations and concentrate on more profitable ventures within the gaming sector.

This sale follows Nazara’s recent divestment of a 94.85% stake in another subsidiary, Open Play, to Moonshine Technologies for INR 104.33 crore. Despite reporting record quarterly revenue of INR 544.7 crore in Q3 FY25, Nazara experienced a 53.5% decline in net profit year-over-year.

Nazara continues to focus on enhancing its portfolio through strategic acquisitions and investments in high-potential gaming platforms while navigating the competitive landscape of the gaming industry.

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Inverstors Stories

Fractal Invests $20 Million in Asper.ai to Accelerate AI Solutions for Consumer Goods

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Fractal Invests $20 Million in Asper.ai to Accelerate AI Solutions for Consumer Goods

Fractal, a leading SaaS unicorn, has announced a strategic investment of $20 million in Asper.ai, an AI-driven platform focused on the consumer goods and manufacturing sectors. This funding, revealed on March 19, 2025, aims to accelerate Asper’s growth by enhancing product development and expanding its enterprise customer base.

Investment Highlights

Pranay Agrawal, Co-Founder and CEO of Fractal, expressed excitement about the partnership, noting Asper’s impressive growth over the past three years. He stated that this investment will unlock new opportunities for enterprise customers and drive further innovation within Asper.

Asper.ai’s Objectives

Mohit Agarwal, Co-Founder and CEO of Asper.ai, emphasized the need for consumer goods leaders to have a strategic ally that can adapt to their operations and transform data into actionable insights. The investment will support Asper in building its autonomous growth AI platform and attracting top talent.

Future Plans

Anuj Kaushik, Co-Founder and Chief Commercial Officer of Asper.ai, highlighted the positive market response to their offerings. With Fractal’s investment, Asper.ai plans to enhance its AI capabilities across key areas like demand forecasting and revenue growth management.

Conclusion

Fractal’s $20 million investment marks a significant step in advancing AI solutions within the consumer goods sector. The collaboration between Fractal and Asper.ai is set to redefine how businesses leverage AI for growth and efficiency in a competitive landscape.

 

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