#fashion fair cosmetics 1988
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𝓓𝓻𝓮𝓪𝓶 𝓰𝓲𝓻𝓵 𝓲𝓷 𝓪 𝓯𝓪𝓷𝓽𝓪𝓼𝔂 𝔀𝓸𝓻𝓵𝓭.
#black beauty#coquette#pink pilates princess#victoria secret angel#90s runway#girlblog#lavon evans 80s#poc coquette#black femininity#strawberry pound cake#strawberry shortcake#pink princess#lana unreleased#dream girl#lana del ray aka lizzy grant#lizzy grant#dream girl by lana del rey#adriana lima#brandi quinones#fashion fair cosmetics 1988#this is what makes us girls#coney island queen
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Robyn #Rihanna Fenty (born February 20, 1988) is a #mixed #Bajan singer, actress & businesswoman. Shes the richest female musician w/ a $1.4 billion fortune, mostly thanks to her #FentyBeauty brand. Shes from Saint Michael, #Barbados. Her moms #AfroGuyanese, her dad is Bajan of #African #Irish #English & #Scottish descent. Her light skin caused her grief at school, where she was harassed by students. ”People hated me because Im fair in complexion. I had to develop a thick skin because they would call me 'White'." Today, she is interested in learning more about her #Celtic roots. Her dads ancestors were indentured servants transported to Barbados to work on sugar plantations in the 17th century. They were part of the Caribbean’s poor white community known as #Redlegs. With over 250 million copies sold worldwide, Rihannas the 2nd best-selling female musician of all time. Earning 14 #1's, 31 top 10 US singles & 30 top 10 UK entries. Her accolades include: 9 Grammy's 13 American Music Awards (including the Icon Award) 12 Billboard Music Awards 6 Guinness World Records 1 NAACP's President's Award & 1 Academy Award nomination Shes known for her humanitarian causes, entrepreneurial ventures & fashion. She founded the nonprofit, Clara Lionel Foundation. Fenty Beauty started the "Fenty Effect", revolutionizing the way cosmetic brands approached diversity. Now beauty houses extend their shade ranges to accommodate all skin tones. 40 shades is the new standard. “Diversity is about so much more than colour. As women, we are different shapes, different sizes & inclusivity is so important, we don’t want anybody feeling left out." Her lingerie brand #SavageXFenty is also inclusive of plus sizes & models with different looks & abilities. Shes the first woman to create a fashion house, Fenty for #LVMH & the first #WOC to lead an LVMH brand. Now shes the first to headline a Super Bowl halftime show while pregnant. She was appointed as an ambassador of education, tourism & investment by the Government of Barbados in 2018 & declared a National Hero of Barbados on the country's independence day in 2021, entitling her "The Right Excellent" for life. 🇧🇧🇬🇧🇮🇪🏴 (at Barbados, Caribbean) https://www.instagram.com/p/Cos1Rt6uqca/?igshid=NGJjMDIxMWI=
#rihanna#mixed#bajan#fentybeauty#barbados#afroguyanese#african#irish#english#scottish#celtic#redlegs#1#savagexfenty#lvmh#woc
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Very important research, skin tone sexual meaning - ‘tall, DARK & handsome’
Ashikari conducted a series of field studies in Japan in which she explained the history as well as cultural meanings of white skin (naturally and with makeup) as a female beauty ideal as well as a symbol of national identity in Japan (2003a, 2003b, 2005). For instance, in Japan it has been considered a ‘moral duty’ for women to apply white powder to their faces since the Edo period (Ashikari, 2003b). In South Korea, white skin that is comparable to ‘pale jade’ is considered noble and attractive for both men and women (Li et al., 2008). In classic Chinese poems, the skin of beautiful women was often described as being like ‘snow’, ‘ice’, or ‘jade’ to convey the quality of translucency, delicacy, smoothness, and fairness.
The old Chinese idiom ‘one white covers three uglies’ sums up nicely how Chinese people perceive and value the fair skin tone.
1st paragraph (yellow) - studies showed that lighter complexions lead to certain social advantages. CHINA - in a study of sexual preferences of men and women, male participants preferred images of women with lighter skin tones over women with darker complexions, will be interesting to see the results in the UK of different age ranges and genders.
2nd paragraph (yellow) - ‘HAVING PALE SKIN WAS A MARK OF BEAUTY, WEALTH, AND REFINEMENT FOR WOMEN IN THE WESTERN WORLD UNTIL THE 1920S’ many resources have stated this, this was due to either CoCo Chanel or a change within fahsion advertisement.
PRO-TANNING PROPOGANDA OF THE MEDICAL PROFESSION -exposure to sunlight could avoid vitiman d deficiency, however, too much sunlight causes health risks such as skin cancer.
1988-2007 - American teenagers percievece medium to dark sun tans as healthy and attractive - same as what I believe, makes me look alot healthier.
NOW - The american beauty industry continues to promote tanning cosmetics and encourages excessive sun exposure, portraying a golden tan as fashionable, healthy an luxurious.
The shift of cultural preference from pale to tanned skin tone in the western world, particularly the US, was historically and culturally exceptional.(Frost,2005) - look at reference? Basically saying pale skin is no longer seen as the prefereed skin complexion however, in China, pale skin is still prioritised and is still their idea of beauty.
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Ten famous women fashion magazines in the world
No. 1: VOGUE
The United States started publication in 1892. Currently, there are more than 10 versions released worldwide. This old American fashion magazine is called "before fashion, Vogue", and all along, cultural critics believe that "VOGUE" has been 113 years of development history is a "fashion photography history".
VOGUE was originally released as a fashion weekly, mainly for urban women. The British version was released in 1916, followed by the release of French, Australian, Spanish and German versions.
In 1909, the American CONDE NAST publishing company bought VOGUE and developed it from a small weekly to the most influential fashion magazine of the twentieth Century. In its more than 100 year history, VOGUE has trained and developed a large number of fashion talents, including famous designers, models, photographers and editors, etc.. Today, the American version of VOGUE is the largest fashion magazine in the world, and the British, French and Italy editions also have huge readership.
The VOGUE reader is mainly the middle class and above urban fashion, dominated by women, covering various fashion, makeup, beauty, health, entertainment and art, is a comprehensive lifestyle magazine. "Sister", which belongs to a publishing house, also includes worldwide fashion magazines such as GLAMOUR, VANITY FAIRE and so on.
Top second: Cosmopolitan
The metropolitan version of the Chinese translation was first published in the United States in 1886. Another old magazine that debuted with a bold, interesting, call for "big city girl" style. In 60s of last century, the editorial policy in Helen under the leadership of Brown, the "Cosmopolitan" issued to women in the radical slogans was: "life, you can do the best in every area of your life!" Now, Cosmopolitan is no longer just a magazine, it's also a way of life for readers. Mainly facing the world's brave, entertaining, and want to become a leader in various fields of young women.
Top third: W
The United States, founded in 1972, the old high-end fashion magazine. In June 2011, even with a full 60 pages published Brad Pitt and Angelina Zhu Li's "intimate life" - this group of photos in the form of pictures show both sides of last century 60s American family dressed with dark, Pitt and Jolie played a couple in the picture, the facial expression and body language tells silent this fictional family story. There are only 2 pages of the corresponding text interpretation, which shows the sharpness of capturing the fashion trend.
Top fourth: NYLON
The United States, a very unique female fashion magazine, founded in 1998, offbeat style, Zoupian Jian feng. For years, it attracted many major cosmetics companies advertising, allegedly because the advertisers want to adopt a new type of unique carrier affecting consumers."
Fifth big: Harper 's Bazaar
Translated version of "splash fashion", USA, 1867 publication. China version seems to be called "bazaar". It has 19 international versions in the world. An old magazine with an introverted style and a long history. In China, the reader is positioned as 25 years old, high income, high grade, rich experience, love fashion, the pursuit of perfect success women
Top sixth: ELLE
France, founded in 1945, is a weekly magazine and publishes about 54 issues a year. It is said that in French, "Elle" is the meaning of "female". Over the years, "ELLE" advocates feminine, soft and beautiful features. Currently, there are 30 versions released worldwide.
Although the ELLE has 55 years of history, the time is not very long, but it has become the world's other two major fashion magazines "Vogue" and "Happer 's Bazaar" par. And "ELLE" seems to be the most fashionable magazine in the region so far.
The content and form of "ELLE" is still the traditional fashion media in all aspects of modern life, such as fashion, beauty, fitness, food, culture and art. Compared with other magazines, "ELLE" is more youthful and vigorous. It pays more attention to and close to the fashion needs and tastes of the mass girls. It also pays attention to the market operation of the clothing industry and promotes the spirit of fashion.
No. 7: Marie Claire
Chinese translation "Marie Claire", France, 1988. Malizia Draw who broke the tradition of fourteen years without a male cover for Beckham is now known as the most popular magazine in the mainstream women's fashion magazine. In 2002, David Beckham said, "I'm in the bed like a wild beast." how many women have "broken down"?!
Currently, Marie Claire has 24 editions in the world, and it is one of the world's top quality female periodicals. "Marie Claire" has always been a delicate female perspective, unique social reports, showing a diversified trend of life. Marie Claire likes to tell the reader what the real world is in a romantic way; to help the reader achieve her dream life. "Marie Claire" claims: they not only show women's beautiful appearance, but also search for women's soul, deep into the heart of women.
No. 8: Figaro Madame
Chinese translation "Madame Figaro", France, 1980. With the "gentleman" has inherent fuchangfusui temperament, emphasize the elegant and discreet instrument, on "the fashion of the wisdom, strength of the" Le Figaro "in the subsequent newspaper group as a support, its contents except fashion beauty, cooking, etc. is slightly a way of keeping good health, long winded up.
Chapter Nine: ID
Britain started publication in 1980. The letter D emphasizes the magazine's attention to design, while the lower case letter I suggests the magazine's own style. Founder Terry Jones hopes the magazine to the outside of the mainstream fashion and fashion conscious people bring a broader vision and more voice: "fashion is not only clothing, it is the culture around us, what is our daily life determined the effect of music, film, literature, art and food etc.." From the reality of life inspiration, insight, innovative ideas, different from the traditional means of expression, excellent photography and individuation layout, are the factors of "success" ID.
Look at "ID" cover character style, very unique, not closing right, that will cover your right eye, very typical I style D.
Tenth big: "L'OFFICIEL"
It was founded and published in Paris, France in 1921. The first French fashion magazine was born. Its Chinese name is "Paris fashion gazette" or "Paris fashion tide", and the Chinese version is "fashion L'OFFICIEL". "L'OFFICIEL" is the publisher of a famous family of French publishing enterprises at the publishing group, which also owns the other 6 high-end magazines. There are 7 international versions, respectively, in Russia, Ukraine, Greece, Turkey, India, South Korea and China today.
The actual issue covers 67 countries around the world, and leads the fashion trend with its taste and style. "L'OFFICIEL" is issued every year in 10, which is not published every January and July. Each page is about 250 pages, and rich content includes fashion, beauty, tourism, art and other fashion comprehensive information. Since 1921, the fashion has been recorded with a unique vision, leading the trend. Known as the Bible of the fashion industry, it has an unquestionable authority in international high-end fashion magazines. It was the earliest fashion magazine in France, and probably the earliest fashion magazine in the world.
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Bernard Arnault Net Worth: How His Fashion Empire Made Him the World’s Second Richest Person
Louis Vuitton (LVMH) boss Bernard Arnault, 70, overtook Bill Gates to become the second richest person in the world, the Bloomberg Billionaires Index announced Wednesday—and he did it in style.
The French businessman, who is the force behind many of the biggest names in luxury, pushed to the second spot after a stellar year for LVMH, which saw company shares rise 43%. His net worth is now estimated at $107.6 billion—an increase of $39.1 billion in a single year.
This remains way short of Amazon founder Jeff Bezos’ $124 billion fortune. Yet Europe’s richest person—whose fortune is estimated to be equivalent to 3% of France’s GDP—is one of only three members in the ultra-exclusive centibillionaire’s club.
But just who is Bernard Arnault? And how did he make his fortune? More importantly, how does he manage to spend all that cash?
A fateful taxi ride
After studying engineering at the prestigious Ecole Polytechnique in Paris and graduating in 1971, Arnault joined his family’s construction company, Ferret-Savinel, as an engineer. Yet it was a chance meeting in New York that proved to have a far more dramatic impact.
Sitting in a yellow cab, Arnault asked the driver what he knew of France. “He could not name the president but he knew Dior,” Arnault recently told the Financial Times.
Marisa Berenson, Natalie Portman, Bernard Arnault and his wife Helene Arnault in the front row of the Christian Dior Haute Couture Fall/Winter 2017-2018 show in Paris, France. Photo by Bertrand Rindoff Petroff—Getty Images
From there, Arnault’s course was set: within three years—and by the age of 30—he’d reinvented Ferret-Savinel as a real estate firm called Férinel, and replaced his father as company president. And in 1984, he embarked on an even more drastic venture. After lobbying the French government, he left Férinel and took up the reins of faltering textile company, Boussac—whose portfolio included the house of Dior—and systematically turned the company into the launchpad for his luxury empire. The purchase price? One Franc.
A luxury shopping spree
In 1987, Arnault was asked to mediatein the rancorous merger of Möet Hennessy and Louis Vuitton, largely because LV held the rights to Dior perfume and Henry Racamier, the 77-year-old chairman of LV, saw him as an ally, according to a report from the New York Times.
Arnault had other plans, however, and instead sided with Moet Hennessy boss, Alain Chevalier, and bought 27% of LVMH in combination with Guinness. This grew to 37% in 1988 and by 1989 Arnault was the biggest shareholder. A year later Racamier resigned from his own family firm and Arnault become both chairman and CEO of LVMH.
It was part of a rapid expansion that saw Arnault snap up luxury firms including Céline (1988), Berluti (1993), Guerlain (1994), Marc Jacobs (1997), Thomas Pink (1999), Fendi (2001), and DKNY (2001).
French actress Catherine Deneuve and Bernard Arnault attend a show for a ready-to-wear collection of designer Marc Jacobs for Louis Vuitton in March, 2003 in Paris, France. Credit— Getty Images
LVMH itself now comprises 75 ‘houses,’ including Dom Pérignon, Bulgari, Givenchy, and TAG Heuer. Alongside the 23-story LVMH Tower on New York’s 57th Street, the company owns the Cheval Blanc ski resort in Courchevel, the Hotel Cipriani in Venice (site of George Clooney’s 2016 wedding), the Orient Express, and luxury resorts in the Caribbean, Maldives, St. Tropez, and Paris.
In 1999, Arnault also invested in a small but enterprising DVD rental firm. It’s name? Netflix.
A bet pays off
Arnault was one of the first overseas businessmen to take the gamble of investing in China at the start of Deng Xiaoping’s market-economy reforms, opening a Louis Vuitton store in Beijing in 1992.
The risk has massively paid off over the years. In the first quarter of this year, for instance, LVMH reported a revenue increase of 16% to $14.10 billion, largely fueled by Chinese buyers, who account for over a third of the luxury sector’s sales.
The exterior of a Louis Vuitton shop in Central, Hong Kong. South China Morning Post via Getty Images
“With the Chinese, the business is really moving from strength to strength,” Financial Director Jean-Jacques Guiony told reporters in April.
Going after Gucci
Like all business leaders, Arnault has suffered his fair share of failures along the way. Most notably, his 1999 attempt to takeover Gucci—described as “the bloodiest fight in fashion” by the New York Post—which resulted in litigation that Arnault ultimately lost. To his chagrin, the fashion house fell into the arms of arch-rival François Pinault for $2.92 billion.
In 2014, Arnault also admitted defeat in a four-year attempt to purchase luxury scarf-maker Hermès, after then-Hermès Chief Executive Patrick Thomas launched court proceedings to prevent LVMH from mounting a takeover. Arnault eventually agreed to relinquish his 23% stake in Hermès as a result.
Elsewhere, Arnault has unsuccessfully challenged the dominance of luxury auction houses Christie’s and Sotheby’s by buying British auctioneers Phillips in 1999 and got his fingers badly burnt with online retailer Boo.com, which went into liquidation in 2000.
Rising to second place
An April 10 release detailing first-quarter trading for LVMH, stated that, “All geographic regions are experiencing good growth.
“This includes a 20% increase in sales of fashion & leather goods, a 13 % rise in sales of wines & spirits and a 12 % increase in sales of perfumes & cosmetics. Overall, LMVH showed first-quarter growth of 16% and organic growth of 11% compared to 2018. Its overall revenue was around $14.3 billion.
Bernard Arnault takes a photo on his iPhone during the Celine Menswear Spring Summer 2020 fashion show on June 23, 2019 in Paris, France. Credit Victor VIRGILE—Gamma-Rapho via Getty Images
These better-than-expected results have led to a 27% rise in LVMH shares since January 29, when the group announced record sales for 2018.
Arnault is not resting on his laurels, either. On April 17, LVMH announced the completion of its $3.2 billion deal for Belmond, making them part-owners or managers of 45 luxury hotel, restaurant, train, and river cruise properties.
Rihanna and Stella
On May 10, they followed this up with the creation of the new Fenty fashion line, centered around Barbadian pop star Rihanna.
“Designing a line like this with LVMH is an incredibly special moment for us,” Rihanna said in a release. “Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits. I couldn’t imagine a better partner both creatively and business-wise.”
Rihanna poses during a promotional event for her brand, Fenty, in Paris on May 22, 2019. Credit MARTIN BUREAU—AFP/Getty Images)
More recently, LVMH announced a partnership with Stella McCartney’s name sake brand, which was publicly owned by rival company Kering until last year. The pair did not disclose the terms of the deal, but said it will allow McCartney to continue as creative director and majority owner of the brand.
“The chance to realize and accelerate the full potential of the brand alongside Mr. Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” McCartney said in a release.
“It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her House,” said Arnault, before stressing that McCartney’s ethical principles were “a decisive factor”.
With the fashion world increasingly drawing criticism for its environmenal footprint, McCartney’s brand is clearly one that Arnault and LVMH can draw from.
“She was the first to put sustainability and ethical issues on the front stage, very early on, and built her House around these issues,” Arnault added about McCartney. “LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and Stella will help us further increase awareness on these important topics.”
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The post Bernard Arnault Net Worth: How His Fashion Empire Made Him the World’s Second Richest Person appeared first on WeeklyReviewer.
from WeeklyReviewer https://weeklyreviewer.com/bernard-arnault-net-worth-how-his-fashion-empire-made-him-the-worlds-second-richest-person/?utm_source=rss&utm_medium=rss&utm_campaign=bernard-arnault-net-worth-how-his-fashion-empire-made-him-the-worlds-second-richest-person from WeeklyReviewer https://weeklyreviewer.tumblr.com/post/186417988107
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Bernard Arnault Net Worth: How His Fashion Empire Made Him the World’s Second Richest Person
Louis Vuitton (LVMH) boss Bernard Arnault, 70, overtook Bill Gates to become the second richest person in the world, the Bloomberg Billionaires Index announced Wednesday—and he did it in style.
The French businessman, who is the force behind many of the biggest names in luxury, pushed to the second spot after a stellar year for LVMH, which saw company shares rise 43%. His net worth is now estimated at $107.6 billion—an increase of $39.1 billion in a single year.
This remains way short of Amazon founder Jeff Bezos’ $124 billion fortune. Yet Europe’s richest person—whose fortune is estimated to be equivalent to 3% of France’s GDP—is one of only three members in the ultra-exclusive centibillionaire’s club.
But just who is Bernard Arnault? And how did he make his fortune? More importantly, how does he manage to spend all that cash?
A fateful taxi ride
After studying engineering at the prestigious Ecole Polytechnique in Paris and graduating in 1971, Arnault joined his family’s construction company, Ferret-Savinel, as an engineer. Yet it was a chance meeting in New York that proved to have a far more dramatic impact.
Sitting in a yellow cab, Arnault asked the driver what he knew of France. “He could not name the president but he knew Dior,” Arnault recently told the Financial Times.
Marisa Berenson, Natalie Portman, Bernard Arnault and his wife Helene Arnault in the front row of the Christian Dior Haute Couture Fall/Winter 2017-2018 show in Paris, France. Photo by Bertrand Rindoff Petroff—Getty Images
From there, Arnault’s course was set: within three years—and by the age of 30—he’d reinvented Ferret-Savinel as a real estate firm called Férinel, and replaced his father as company president. And in 1984, he embarked on an even more drastic venture. After lobbying the French government, he left Férinel and took up the reins of faltering textile company, Boussac—whose portfolio included the house of Dior—and systematically turned the company into the launchpad for his luxury empire. The purchase price? One Franc.
A luxury shopping spree
In 1987, Arnault was asked to mediatein the rancorous merger of Möet Hennessy and Louis Vuitton, largely because LV held the rights to Dior perfume and Henry Racamier, the 77-year-old chairman of LV, saw him as an ally, according to a report from the New York Times.
Arnault had other plans, however, and instead sided with Moet Hennessy boss, Alain Chevalier, and bought 27% of LVMH in combination with Guinness. This grew to 37% in 1988 and by 1989 Arnault was the biggest shareholder. A year later Racamier resigned from his own family firm and Arnault become both chairman and CEO of LVMH.
It was part of a rapid expansion that saw Arnault snap up luxury firms including Céline (1988), Berluti (1993), Guerlain (1994), Marc Jacobs (1997), Thomas Pink (1999), Fendi (2001), and DKNY (2001).
French actress Catherine Deneuve and Bernard Arnault attend a show for a ready-to-wear collection of designer Marc Jacobs for Louis Vuitton in March, 2003 in Paris, France. Credit— Getty Images
LVMH itself now comprises 75 ‘houses,’ including Dom Pérignon, Bulgari, Givenchy, and TAG Heuer. Alongside the 23-story LVMH Tower on New York’s 57th Street, the company owns the Cheval Blanc ski resort in Courchevel, the Hotel Cipriani in Venice (site of George Clooney’s 2016 wedding), the Orient Express, and luxury resorts in the Caribbean, Maldives, St. Tropez, and Paris.
In 1999, Arnault also invested in a small but enterprising DVD rental firm. It’s name? Netflix.
A bet pays off
Arnault was one of the first overseas businessmen to take the gamble of investing in China at the start of Deng Xiaoping’s market-economy reforms, opening a Louis Vuitton store in Beijing in 1992.
The risk has massively paid off over the years. In the first quarter of this year, for instance, LVMH reported a revenue increase of 16% to $14.10 billion, largely fueled by Chinese buyers, who account for over a third of the luxury sector’s sales.
The exterior of a Louis Vuitton shop in Central, Hong Kong. South China Morning Post via Getty Images
“With the Chinese, the business is really moving from strength to strength,” Financial Director Jean-Jacques Guiony told reporters in April.
Going after Gucci
Like all business leaders, Arnault has suffered his fair share of failures along the way. Most notably, his 1999 attempt to takeover Gucci—described as “the bloodiest fight in fashion” by the New York Post—which resulted in litigation that Arnault ultimately lost. To his chagrin, the fashion house fell into the arms of arch-rival François Pinault for $2.92 billion.
In 2014, Arnault also admitted defeat in a four-year attempt to purchase luxury scarf-maker Hermès, after then-Hermès Chief Executive Patrick Thomas launched court proceedings to prevent LVMH from mounting a takeover. Arnault eventually agreed to relinquish his 23% stake in Hermès as a result.
Elsewhere, Arnault has unsuccessfully challenged the dominance of luxury auction houses Christie’s and Sotheby’s by buying British auctioneers Phillips in 1999 and got his fingers badly burnt with online retailer Boo.com, which went into liquidation in 2000.
Rising to second place
An April 10 release detailing first-quarter trading for LVMH, stated that, “All geographic regions are experiencing good growth.
“This includes a 20% increase in sales of fashion & leather goods, a 13 % rise in sales of wines & spirits and a 12 % increase in sales of perfumes & cosmetics. Overall, LMVH showed first-quarter growth of 16% and organic growth of 11% compared to 2018. Its overall revenue was around $14.3 billion.
Bernard Arnault takes a photo on his iPhone during the Celine Menswear Spring Summer 2020 fashion show on June 23, 2019 in Paris, France. Credit Victor VIRGILE—Gamma-Rapho via Getty Images
These better-than-expected results have led to a 27% rise in LVMH shares since January 29, when the group announced record sales for 2018.
Arnault is not resting on his laurels, either. On April 17, LVMH announced the completion of its $3.2 billion deal for Belmond, making them part-owners or managers of 45 luxury hotel, restaurant, train, and river cruise properties.
Rihanna and Stella
On May 10, they followed this up with the creation of the new Fenty fashion line, centered around Barbadian pop star Rihanna.
“Designing a line like this with LVMH is an incredibly special moment for us,” Rihanna said in a release. “Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits. I couldn’t imagine a better partner both creatively and business-wise.”
Rihanna poses during a promotional event for her brand, Fenty, in Paris on May 22, 2019. Credit MARTIN BUREAU—AFP/Getty Images)
More recently, LVMH announced a partnership with Stella McCartney’s name sake brand, which was publicly owned by rival company Kering until last year. The pair did not disclose the terms of the deal, but said it will allow McCartney to continue as creative director and majority owner of the brand.
“The chance to realize and accelerate the full potential of the brand alongside Mr. Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” McCartney said in a release.
“It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her House,” said Arnault, before stressing that McCartney’s ethical principles were “a decisive factor”.
With the fashion world increasingly drawing criticism for its environmenal footprint, McCartney’s brand is clearly one that Arnault and LVMH can draw from.
“She was the first to put sustainability and ethical issues on the front stage, very early on, and built her House around these issues,” Arnault added about McCartney. “LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and Stella will help us further increase awareness on these important topics.”
Credit: Source link
The post Bernard Arnault Net Worth: How His Fashion Empire Made Him the World’s Second Richest Person appeared first on WeeklyReviewer.
from WeeklyReviewer https://weeklyreviewer.com/bernard-arnault-net-worth-how-his-fashion-empire-made-him-the-worlds-second-richest-person/?utm_source=rss&utm_medium=rss&utm_campaign=bernard-arnault-net-worth-how-his-fashion-empire-made-him-the-worlds-second-richest-person from WeeklyReviewer https://weeklyreviewer.tumblr.com/post/186417988107
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Bernard Arnault Net Worth: How His Fashion Empire Made Him the World’s Second Richest Person
Louis Vuitton (LVMH) boss Bernard Arnault, 70, overtook Bill Gates to become the second richest person in the world, the Bloomberg Billionaires Index announced Wednesday—and he did it in style.
The French businessman, who is the force behind many of the biggest names in luxury, pushed to the second spot after a stellar year for LVMH, which saw company shares rise 43%. His net worth is now estimated at $107.6 billion—an increase of $39.1 billion in a single year.
This remains way short of Amazon founder Jeff Bezos’ $124 billion fortune. Yet Europe’s richest person—whose fortune is estimated to be equivalent to 3% of France’s GDP—is one of only three members in the ultra-exclusive centibillionaire’s club.
But just who is Bernard Arnault? And how did he make his fortune? More importantly, how does he manage to spend all that cash?
A fateful taxi ride
After studying engineering at the prestigious Ecole Polytechnique in Paris and graduating in 1971, Arnault joined his family’s construction company, Ferret-Savinel, as an engineer. Yet it was a chance meeting in New York that proved to have a far more dramatic impact.
Sitting in a yellow cab, Arnault asked the driver what he knew of France. “He could not name the president but he knew Dior,” Arnault recently told the Financial Times.
Marisa Berenson, Natalie Portman, Bernard Arnault and his wife Helene Arnault in the front row of the Christian Dior Haute Couture Fall/Winter 2017-2018 show in Paris, France. Photo by Bertrand Rindoff Petroff—Getty Images
From there, Arnault’s course was set: within three years—and by the age of 30—he’d reinvented Ferret-Savinel as a real estate firm called Férinel, and replaced his father as company president. And in 1984, he embarked on an even more drastic venture. After lobbying the French government, he left Férinel and took up the reins of faltering textile company, Boussac—whose portfolio included the house of Dior—and systematically turned the company into the launchpad for his luxury empire. The purchase price? One Franc.
A luxury shopping spree
In 1987, Arnault was asked to mediate in the rancorous merger of Möet Hennessy and Louis Vuitton, largely because LV held the rights to Dior perfume and Henry Racamier, the 77-year-old chairman of LV, saw him as an ally, according to a report from the New York Times.
Arnault had other plans, however, and instead sided with Moet Hennessy boss, Alain Chevalier, and bought 27% of LVMH in combination with Guinness. This grew to 37% in 1988 and by 1989 Arnault was the biggest shareholder. A year later Racamier resigned from his own family firm and Arnault become both chairman and CEO of LVMH.
It was part of a rapid expansion that saw Arnault snap up luxury firms including Céline (1988), Berluti (1993), Guerlain (1994), Marc Jacobs (1997), Thomas Pink (1999), Fendi (2001), and DKNY (2001).
French actress Catherine Deneuve and Bernard Arnault attend a show for a ready-to-wear collection of designer Marc Jacobs for Louis Vuitton in March, 2003 in Paris, France. Credit— Getty Images
LVMH itself now comprises 75 ‘houses,’ including Dom Pérignon, Bulgari, Givenchy, and TAG Heuer. Alongside the 23-story LVMH Tower on New York’s 57th Street, the company owns the Cheval Blanc ski resort in Courchevel, the Hotel Cipriani in Venice (site of George Clooney’s 2016 wedding), the Orient Express, and luxury resorts in the Caribbean, Maldives, St. Tropez, and Paris.
In 1999, Arnault also invested in a small but enterprising DVD rental firm. It’s name? Netflix.
A bet pays off
Arnault was one of the first overseas businessmen to take the gamble of investing in China at the start of Deng Xiaoping’s market-economy reforms, opening a Louis Vuitton store in Beijing in 1992.
The risk has massively paid off over the years. In the first quarter of this year, for instance, LVMH reported a revenue increase of 16% to $14.10 billion, largely fueled by Chinese buyers, who account for over a third of the luxury sector’s sales.
The exterior of a Louis Vuitton shop in Central, Hong Kong. South China Morning Post via Getty Images
“With the Chinese, the business is really moving from strength to strength,” Financial Director Jean-Jacques Guiony told reporters in April.
Going after Gucci
Like all business leaders, Arnault has suffered his fair share of failures along the way. Most notably, his 1999 attempt to takeover Gucci—described as “the bloodiest fight in fashion” by the New York Post—which resulted in litigation that Arnault ultimately lost. To his chagrin, the fashion house fell into the arms of arch-rival François Pinault for $2.92 billion.
In 2014, Arnault also admitted defeat in a four-year attempt to purchase luxury scarf-maker Hermès, after then-Hermès Chief Executive Patrick Thomas launched court proceedings to prevent LVMH from mounting a takeover. Arnault eventually agreed to relinquish his 23% stake in Hermès as a result.
Elsewhere, Arnault has unsuccessfully challenged the dominance of luxury auction houses Christie’s and Sotheby’s by buying British auctioneers Phillips in 1999 and got his fingers badly burnt with online retailer Boo.com, which went into liquidation in 2000.
Rising to second place
An April 10 release detailing first-quarter trading for LVMH, stated that, “All geographic regions are experiencing good growth.
“This includes a 20% increase in sales of fashion & leather goods, a 13 % rise in sales of wines & spirits and a 12 % increase in sales of perfumes & cosmetics. Overall, LMVH showed first-quarter growth of 16% and organic growth of 11% compared to 2018. Its overall revenue was around $14.3 billion.
Bernard Arnault takes a photo on his iPhone during the Celine Menswear Spring Summer 2020 fashion show on June 23, 2019 in Paris, France. Credit Victor VIRGILE—Gamma-Rapho via Getty Images
These better-than-expected results have led to a 27% rise in LVMH shares since January 29, when the group announced record sales for 2018.
Arnault is not resting on his laurels, either. On April 17, LVMH announced the completion of its $3.2 billion deal for Belmond, making them part-owners or managers of 45 luxury hotel, restaurant, train, and river cruise properties.
Rihanna and Stella
On May 10, they followed this up with the creation of the new Fenty fashion line, centered around Barbadian pop star Rihanna.
“Designing a line like this with LVMH is an incredibly special moment for us,” Rihanna said in a release. “Mr. Arnault has given me a unique opportunity to develop a fashion house in the luxury sector, with no artistic limits. I couldn’t imagine a better partner both creatively and business-wise.”
Rihanna poses during a promotional event for her brand, Fenty, in Paris on May 22, 2019. Credit MARTIN BUREAU—AFP/Getty Images)
More recently, LVMH announced a partnership with Stella McCartney’s name sake brand, which was publicly owned by rival company Kering until last year. The pair did not disclose the terms of the deal, but said it will allow McCartney to continue as creative director and majority owner of the brand.
“The chance to realize and accelerate the full potential of the brand alongside Mr. Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” McCartney said in a release.
“It is the beginning of a beautiful story together, and we are convinced of the great long-term potential of her House,” said Arnault, before stressing that McCartney’s ethical principles were “a decisive factor”.
With the fashion world increasingly drawing criticism for its environmenal footprint, McCartney’s brand is clearly one that Arnault and LVMH can draw from.
“She was the first to put sustainability and ethical issues on the front stage, very early on, and built her House around these issues,” Arnault added about McCartney. “LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and Stella will help us further increase awareness on these important topics.”
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Rihanna’s Cla$$
Rihanna’s Class
In talking about class in today’s society, the youth often connects extreme wealth with celebrities. As Harvey puts it, celebrities are ordinary people in extraordinary situations who become extraordinary people in both ordinary and extraordinary situations. Robyn Rihanna Fenty is no exception to the rule. She was born in Barbados on February 20, 1988. “Rihanna's childhood was marred by her father's struggles with addictions to alcohol and crack cocaine and her parents' marital problems—they divorced when she was 14 years old” (Biography.com). Throughout her childhood in the Caribbean, Rihanna additionally struggled with chronic headaches which affected her schooling.
Rihanna’s life turned a 180 when she turned 16, moved to America, and signed her first record deal with Def Jam. “‘I remember staring into everybody's eyes in the room while I was singing, and at that point, I was fearless,’ she said. ‘But the minute I stopped singing, I was like, 'Oh my God, Jay-Z is sitting right in front of me.’’” Her natural talent captured her listeners and catapulted her into fame-hood. Her story soon spread to audiences across America. It did not take long for Rihanna to enter the hearts of her fans. A brief video biography covers her success from a 16 year old singer on:
https://www.biography.com/videos/rihanna-mini-biography-35738179891
In Harvey’s research, she explored the concept of how ordinary people envied celebrities. She took note of what a sample of youth said to justify the exorbitant amount of money celebrities had and why they deserve to have it. Although the overwhelming majority of youth felt it was unfair for such a small pool of people to have an excess of money, they responded more positively when the celebrity did one of two things: donate their resources (like Bill Gates) or work day day-in-and-day-out to get where they are today (Like David Beckham) (p.434). Rihanna, given her back story, certainly was not born into fame; she worked hard to create opportunities for success. “This emphasis on hard work was reflected in participants’ evaluations of different routes into celebrity, in which particular celebrities were judged more ‘hardworking’ and thus deserving of wealth and fame” (Harvey, p. 435). Rihanna has grown from simply being a singer; her rise in fame had lead Rihanna to become an advocate against domestic violence, open up a clothing line and open up a cosmetic line that targets all skin tones rather than the generic light skin tones. Rihanna pushed to have an impact of those who are often ‘cast to the side.’
Rihanna belongs to a class where she is seen in a God-like fashion. People expect her to be perfect and the facade that people see makes them jealous. Rihanna commented during the period when she was dealing with Chris Brown’s abuse, that it was challenging. It was mercilessly publicized and gossiped about. She put up a front that she was fierce and would not allow people to see her cry, but behind closed doors, it was all fair game. She felt exposed and isolated simultaneously. “‘It all looks very glittery and blinged out,’ she said of fame and success in showbiz, ‘but it's way too scary and unrealistic. There's a long way to fall when you pretend you're so far away from the earth, far away from reality, floating in a bubble that's protected by fame or success’” (Pocklington). She has turned a new leaf regarding this challenging time in her life, but continues to face adversity.
Bibliography
Pocklington, Rebecca. “Rihanna Compares Fame to 'Poison', and Fears Being 'Swallowed up' by It.” Mirror, Vanity Fair, 12 Oct. 2015. Retrieved from www.mirror.co.uk/3am/celebrity-news/rihanna-admits-biggest-fear-being-6618909
“Rihanna.” Biography.com, A&E Networks Television, 28 Apr. 2017. Retrieved from www.biography.com/people/rihanna-201257
Harvey, Laura, et al. "Extraordinary Acts and Ordinary Pleasures: Rhetorics of Inequality in Young People's Talk about Celebrity." Discourse & Society, vol. 26, no. 4, July 2015, pp. 428-444. EBSCOhost, doi:10.1177/0957926515576636. Retrieved from http://0-search.ebscohost.com.library.stonehill.edu/login.aspx?direct=true&db=ufh&AN=108546006&site=ehost-live
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