Bernard Arnault and Chiara Ferragni have very little in common with each other. But today, they both seem to possess a rather rare quality: they are the Midas of luxury. They just have to touch a business to turn it into gold, whatever their degree of involvement.
The Midas of luxury
According to Forbes, Arnault (72) is the third richest person on the planet. Despite the pandemic, he almost doubled his assets, which went from 76 to 150 billion dollars. Thanks to LVMH performance, of which at the end of December 2020, he held 47.48% of the capital. LVMH shares are at an all-time high, and could exceed the threshold of 600 euros after the data of the first quarter of 2021. It is no coincidence that Arnault, according to Le Revenu reports, has made a good feast of LVMH shares: he has bought almost 10 million euro shares on December 21, 2020, and over 40 million from on March 22-26, 2021.
Arnault, who also owns 2% of Hermès and 8% of Carrefour, after having secured Tiffany, is investing through L Catterton, which bought Birkenstock, and is in the process of putting Etro in the portfolio as well. To diversify the business, Arnault engaged with Spac Pegasus Europe, thanks to the participation of Financière Agache.
Tod’s on Friday April 9, appointed Chiara Ferragni as a member of the Board of Directors. And the announcement alone was enough for the group from Marche to earn 220 million euros in three days, thanks to a 24% rise in shares. An impact of a certain weight. And for the good peace of Equita, who had judged the reaction of the title on Friday “excessive”.
According to Equita SIM analysts, cited by Business Insider, Ferragni will not be involved in commercial and product collaborations: her arrival is functional to revive Tod’s on the stock exchange. But it is not a coincidence. As trend-online.com points out, Triboo has reached +25% since the beginning of March, since there was the announcement that it would manage Ferragni’s e-commerce and Aeffe’s footwear.
The latest example of Ferragni’s ability to transform what she touches into gold was seen on April 13: Ferragni launched a luxury water bottle made in collaboration with 24 Bottles at 39 euros. Result? The bottle was sold out in 50 minutes.
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