The family behind luxury giant LVMH plans to simplify its ownership structure to "ensure the continuity of its control" over the group. The proposed reorganization would merge several holding companies into a single entity controlling LVMH.
The new company, to be named Agache, would hold a direct stake in LVMH representing 49.76% of the share capital and 65.55% of the voting rights. The transaction would consolidate the bulk of the Arnault family’s holdings in LVMH, amounting to 50.33% of the share capital and 66.27% of the voting rights.
Bernard Arnault, the CEO of LVMH, would remain at the helm of the group.
After presenting the proposal at an extraordinary general meeting of Christian Dior, LVMH’s main shareholder, in December, the Arnault family group will launch an all-cash tender offer for the remaining Christian Dior shares it does not already own, representing 2.44% of the company’s share capital.
The simplification comes as questions persist over Bernard Arnault’s succession. At LVMH’s annual general meeting in April, the 77-year-old chairman and CEO declined to address the issue. In 2025, the group amended its bylaws to raise the age limit for its chief executive from 80 to 85.
All five of Arnault’s children hold positions within the world’s largest luxury group. Four serve on LVMH’s board of directors, while Antoine Arnault and Delphine Arnault also sit on the executive committee.
Against the backdrop of a global luxury slowdown, LVMH was recently overtaken by cosmetics giant L’Oréal as France’s largest listed company by market capitalization.
