The Luxury Mogul and LVMH Chairman Was Awarded with the Prize at a Ceremony in Bangkok
Bernard Arnault, chairman and CEO of LVMH Moët Hennessy Louis Vuitton, received the Malcolm S. Forbes Lifetime Achievement Award during a ceremony held in Bangkok. The award recognizes a business leader who exemplifies the principles of free enterprise.
Described by Forbes chairman and editor-in-chief Steve Forbes as “a pioneer whose strategic vision and acumen…have not only propelled LVMH to great business success but have also redefined the luxury industry on a global scale,” Arnault was praised for his leadership in building LVMH into a global luxury powerhouse.
The conglomerate includes over 75 brands, such as Dior, Louis Vuitton, Fendi, Tiffany & Co., Dom Perignon, Guerlain, Tag Heuer, Bulgari, Sephora, and Hennessy, spanning industries from fashion to wines and spirits.
Accepting the honor, Arnault said, “Receiving this award is a wonderful acknowledgement of the decades-long pursuit of creativity, innovation and the entrepreneurial spirit that fuels our passion for product quality and desirability across the LVMH Group.” He also highlighted the family-driven ethos behind the company, calling it “a unique advantage” in achieving both present and future success.
During his keynote address, Arnault emphasized the importance of passion in leadership, stating, “Challenging ourselves, and the teams that we lead, is a proven way of ensuring continuous evolution and improvement in any organization.” He also noted that all five of his children are “actively and passionately engaged in the growth and development of our business.”
Reflecting on the family structure within LVMH, Arnault said, “In my opinion, there is no better structure than one of engaged family stewardship, capable of absorbing bumps on the road, capable of following a century-long strategic roadmap, without being compelled to deviate by temporary setbacks or short-term febrility.”
The award has previously been given to notable figures such as Alibaba founder Jack Ma, former Walmart chairman S. Robson Walton, and Mexican business magnate Carlos Slim Helú.