阿诺特的王位游戏：LVMH帝国的下一任继承人是谁？
当76岁的LVMH老板伯纳德·阿诺特在今年三月宣布计划修改LVMH公司章程，允许自己继续担任董事长兼CEO直至85岁时，这位奢侈品帝国的缔造者向世界传递了一个明确信号：他无意退场。这一举措为这位全球顶级富豪争取到了至少九年的时间来精心安排他的"王朝继承"计划，同时也让外界对LVMH未来的权力格局产生了无尽遐想。
阿诺特的统治始于1988年那场精心策划的商业政变。当时年仅39岁的他成功夺取了LVMH的控制权，那时的LVMH已是全球最大的奢侈品集团。35年后的今天，在他的领导下，集团已扩张至约75家子公司，总市值高达3300亿欧元，使阿诺特稳居全球前五富豪之列。这位法国"无冕之王"的影响力早已超越商业领域，他参与巴黎奥运会筹办，凭借与特朗普的私交介入全球贸易谈判，对法国政府有着不容忽视的影响力。
继承之战：阿诺特版《Succession》上演
过去十年间，阿诺特悄然启动了"接班人训练计划"，而最近一年，这一计划明显提速。五个成年子女在集团内部的轮岗与历练节奏加快，其中最引人注目的是29岁的弗雷德里克·阿诺特被任命为意大利羊绒品牌Loro Piana的CEO。这个选择颇具深意，Loro Piana是LVMH近年增长最快的品牌之一，既能让年轻的弗雷德里克积累时尚业务经验，又避免了直接掌管Louis Vuitton或Dior等核心复杂品牌可能带来的风险。
这里八卦一下，弗雷德里克也是全球著名流行女子组合乐队Black Pink成员Lisa的男友，当然最近在看第三季The White Lotus的朋友们也会看到Lisa在剧里中规中矩的表演。
弗雷德里克的快速崛起令人联想到HBO热剧《继承之战》(Succession)中的情节。除了Loro Piana，他还接替了因法律问题下台的集团资深顾问Nicolas Bazire，担任家族办公室Financière Agache的总经理。有传闻称，LVMH元老Michael Burke曾亲自带着弗雷德里克拜访集团内外高层，这一"传位预热"的举动无疑加剧了外界对他将成为接班人的猜测。
权力洗牌：为新一代扫清道路
阿诺特为子女铺路的行动不仅限于提拔，还包括一系列令人震惊的高层清洗。去年底，集团人力资源负责人Chantal Gaemperle被突然解雇的场景震惊了整个LVMH。Chantel是LVMH多年来的权力中枢，但在去年底却被“护送出楼”，场面让很多人吃惊。据说，她在公司树敌无数，所有人包括阿诺特的孩子们和公司高管都似乎讨厌她。但是Chantal也曾是阿诺特的军师之一，所以她的突然出局可以被看成是阿诺特坚定继承计划的重要信号。如果她仍在集团的话，弗雷德里克的快速晋升可能不会如此顺利。
五子夺嫡：各有优势的继承候选人
目前，阿诺特的五个子女在继承竞赛中呈现出不同的优势和定位：
德尔菲娜·阿诺特：年近50，是唯一具备全面管理能力的人。她工作勤奋、重视人才、也推动了多个设计师的留任与引进。但她是否真想做“老大”，或只是基于责任感在履职？这是个谜；
安托万·阿诺特：外界看不太清他的职责，但他是兄妹之间的调解者，也是父亲的对外顾问，负责诸如奥运赞助等项目。他与德尔菲娜同属阿尔诺的第一任婚姻，出生时家庭并不如今天富裕，早期获得的权力与资源较少，野心相对低调；
亚历山大·阿诺特：曾掌管Tiffany，尽管任期充满挑战，但最终完成了“将其LVMH化”的任务。他目前接管Moët Hennessy，虽与财务长搭档，更多被认为是集团战略可能发生结构性调整的信号；
弗雷德里克·阿诺特：年仅29岁但上升势头最猛，被普遍认为是父亲当前最器重的子女。Loro Piana的任命被视为阿诺特对他寄予厚望的明确信号。
让·阿诺特：27岁，负责手表业务，尚待观察。
终极悬念：阿诺特能否真正放手？
尽管继承大战如火如荼，但这场权力游戏的最大悬念或许在于阿诺特本人是否真的愿意放手。就像《继承之战》中的Logan Roy，阿诺特似乎至今无法想象一个不由自己掌舵的LVMH。修改公司章程延长任期至85岁的举动，恰恰反映了他对权力交接的矛盾心理。
阿诺特对子女的教育一向严苛，在家族内部营造出"精英竞赛"的文化。虽然子女间存在竞争与分歧，但他们似乎共享一个信念：父亲是不可替代的。这种共识可能正是阿诺特"永恒统治"得以延续的基础。
在LVMH这部现实版《继承之战》中，76岁的阿诺特仍是编剧、导演、男主角，甚至是上帝! 他的下一步棋将如何落子？是继续巩固权力，还是开始真正的交接？这个价值3300亿欧元的悬念，恐怕只有时间才能给出答案。但有一点可以确定：只要阿诺特还在，LVMH的王座就永远只有一个真正的主人。
There will only ever be one true king on the LVMH throne
When 76-year-old LVMH boss Bernard Arnault announced in March this year that he planned to amend the company charter to allow himself to remain Chairman and CEO until the age of 85, the boss of this luxury empire sent a clear message to the world: he has no intention of stepping down.
This move has bought the world’s richest man at least nine more years to meticulously orchestrate his “dynastic succession” plan, and sparked endless speculation about the future leadership structure of LVMH.
Arnault’s reign began in 1988 with a carefully engineered strategy. At just 39, he seized control of LVMH, which was already the world’s largest luxury group at the time. Now, 35 years later, under his leadership, the group has expanded to around 75 subsidiaries and reached a market capitalization of €330 billion, firmly securing Arnault a spot among the top five richest people globally. The influence of this French “uncrowned king” extends far beyond business - he has played a role in organizing the Paris Olympics, used his ties with Donald Trump to intervene in global trade discussions, and wields undeniable sway over the French government.
The Succession Battle: Arnault’s Real-Life Succession
Over the past decade, Arnault has quietly launched a “successor training program,” which has significantly accelerated over the past year. His five adult children have been rotating through various roles within the group, gaining experience at an increasingly brisk pace. Most notably, 29-year-old Frédéric Arnault was appointed CEO of Italian cashmere brand Loro Piana. The choice is a strategic one: Loro Piana is one of LVMH’s fastest-growing brands in recent years. It allows Frédéric to build experience in fashion without the high-stakes pressure of directly managing more complex brands like Louis Vuitton or Dior.
And here’s a bit of gossip: Frédéric is dating Lisa, a member of the globally popular girl group Blackpink. Viewers of the third season of The White Lotus will also spot Lisa making her acting debut in the show.
Frédéric’s rapid rise has drawn comparisons to the HBO hit series Succession. In addition to leading Loro Piana, he also took over as CEO of the family office Financière Agache, replacing long-time group advisor Nicolas Bazire, who stepped down due to legal troubles. Rumor has it that LVMH veteran Michael Burke personally escorted Frédéric to meet key figures within and outside the company - a “passing-the-torch warm-up” that has only fueled speculation that he may be the chosen heir.
A Power Reshuffle: Clearing the Path for the Next Generation
Arnault’s efforts to pave the way for his children aren’t limited to promotions. They also include a series of surprising high-level shakeups. At the end of last year, the sudden dismissal of Chantal Gaemperle, LVMH’s long-standing head of HR, shocked the entire company. Chantal had been at the heart of the group’s power structure for years — and yet she was reportedly “escorted out of the building” in dramatic fashion. She had made plenty of enemies within the company, including Arnault’s children and senior executives. Still, she was once one of Arnault’s closest advisors. Her abrupt removal can be seen as a strong signal that Arnault is fully committed to his succession plan. Had she remained, Frédéric’s rapid promotion might not have gone so smoothly.
The Five Heirs: A Battle of Strengths
Each of Arnault’s five children brings different strengths to the table in this high-stakes succession game:
Delphine Arnault: Nearly 50 and the only one with full-spectrum management experience. She is hardworking, values talent, and has been instrumental in retaining and recruiting top designers. But does she truly want to be “the boss,” or is she simply doing her duty out of responsibility? That remains a mystery.
Antoine Arnault: His role is less clearly defined to outsiders, but he serves as a mediator among the siblings and as an external advisor to his father, handling projects like Olympic sponsorships. Born from Arnault’s first marriage alongside Delphine, Antoine grew up when the family was less wealthy and had fewer early opportunities, which may explain his relatively modest ambition.
Alexandre Arnault: Formerly led Tiffany & Co. Despite a challenging tenure, he completed the task of "LVMH-ifying" the brand. He now oversees Moët Hennessy, working alongside the CFO — a move that some interpret as a signal of upcoming structural shifts in group strategy.
Frédéric Arnault: At only 29, he’s on the fastest upward trajectory and is widely seen as the most favored by his father. His appointment at Loro Piana is viewed as a clear sign of the confidence Arnault has in him.
Jean Arnault: Just 27, currently in charge of the watch division. His potential is still under observation.
The Final Question: Will Arnault Ever Truly Let Go?
Despite the heated succession drama, the biggest question mark may still be Bernard Arnault himself: is he actually willing to let go of power? Much like Succession’s Logan Roy, Arnault seems unable to imagine an LVMH not under his control. His decision to extend his tenure to 85 reflects this deep-seated ambivalence about relinquishing power.
Arnault has always been a tough, demanding father, cultivating a competitive culture within the family. While competition and disagreement exist among the siblings, they all seem to share one belief: their father is irreplaceable. That very belief might be the foundation of Arnault’s continued reign.
In this real-life Succession, 76-year-old Arnault remains the screenwriter, director, leading actor — and perhaps even the god. What will his next move be? Will he further consolidate his power, or begin a true handover?
This €330 billion question may only be answered with time. But one thing is certain: as long as Arnault is around, there will only ever be one true king on the LVMH throne.