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According to the 2021 edition of the Challenges ranking of France’s largest professional fortunes, luxury houses occupy the top five spots.
Challenges magazine has revealed its ranking of the largest French professional fortunes, and once again, luxury has stood out for its resilience during the health crisis.
1. Bernard Arnault (LVMH)
In the first of the five places of the ranking, we find of course the undisputed world leader in luxury, the LVMH group (Louis Vuitton, Céline, Dior; Fendi…) headed by Bernard Arnault, with a fortune amounting to 157.5 billion euros. This sum is in line with LVMH and its turnover of 44.6 billion euros in 2020.
2. Hermès family
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Just behind in second place is the Hermès family – represented by Axel Dumas – with a business value of 81.5 billion euros in 2021. The house founded in 1837 remains at the top of its game with a turnover last year valued at 3.2 billion euros.
3. Françoise Bettencourt-Meyers (L’Oréal)
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The third place in the Challenges ranking of the largest professional fortunes in France is attributed to the Bettencourt family, inseparable from the L’Oréal group: 71.4 billion euros for 2021. An impressive figure for the cosmetics specialist, which has been on the market since 1908, and which will post a turnover of 2.8 billion euros in the first quarter of 2021.
4. Alain and Gérard Wertheimer (Chanel)
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In fourth place are Chanel executives Alain and Gerard Wertheimer, who maintain a fortune of 67 billion euros this year. The historic French fashion house Chanel, founded by Coco Chanel in 1910 and now under the artistic direction of Virginie Viard, has a turnover of 8.4 billion euros in 2020, a very good score.
5. François Pinault (Kering)
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Finally, the fifth place in the ranking is occupied by the director of the main competitor of LVMH, François Pinault of the Kering group, with a fortune of 41.5 billion euros. The house, which includes Gucci, Saint Laurent, or Balenciaga, recorded a turnover of 13.1 billion euros last year.
Luxury, a safe haven
Despite the health crisis, the main French luxury houses have continued to get richer, sometimes in an impressive way as shown by the ranking revealed by Challenges.
This is the case of the fortune of the Chairman and CEO of LVMH, Bernard Arnault, whose wealth has increased by 55 billion euros in one year. His group has seen a 30% increase in the first quarter of 2021 compared to the same period last year.
Despite the numerous restrictions linked to the pandemic, and in particular those linked to travel, such as the ban on tourist trips and the closure of stores in airports, or the various confinements and curfews, which paralyzed the global economy for several months, luxury has asserted itself as a safe haven, with a successful transition to digital and an effective communication strategy.
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According to the 2021 edition of the Challenges ranking of France’s largest professional fortunes, luxury houses occupy the top five spots.
Challenges magazine has revealed its ranking of the largest French professional fortunes, and once again, luxury has stood out for its resilience during the health crisis.
1. Bernard Arnault (LVMH)
In the first of the five places of the ranking, we find of course the undisputed world leader in luxury, the LVMH group (Louis Vuitton, Céline, Dior; Fendi…) headed by Bernard Arnault, with a fortune amounting to 157.5 billion euros. This sum is in line with LVMH and its turnover of 44.6 billion euros in 2020.
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According to the 2021 edition of the Challenges ranking of France’s largest professional fortunes, luxury houses occupy the top five spots.
Challenges magazine has revealed its ranking of the largest French professional fortunes, and once again, luxury has stood out for its resilience during the health crisis.
1. Bernard Arnault (LVMH)
In the first of the five places of the ranking, we find of course the undisputed world leader in luxury, the LVMH group (Louis Vuitton, Céline, Dior; Fendi…) headed by Bernard Arnault, with a fortune amounting to 157.5 billion euros. This sum is in line with LVMH and its turnover of 44.6 billion euros in 2020.
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