Bernard Arnault and Daughter Delphine Arnault,

The Arnault Family Haters Are Out in Full Force

Anne here. I actually wrote this main article on June 22, 2025 but have been overwhelmed with work and now need to break it down into sections for the excerpts. In AOC’s history, I’ve never devoted so much time to LVMH and events keep happening, so organization is challenging. The original link is below. But now I’m breaking it down into specific sections that have updates not in the June 22 AOC Fashion article.

AOC Erupts Over LVMH Hit Pieces as Bloomberg Comes for Delphine Arnault AOC Fashion

Business of Fashion shared a bruising article on June 22, Bernard Arnault Grapples With the Biggest Slump in LVMH’s History by Angelina Rascouet and Tara Patel, writing under the name Bloomberg. I seriously doubt that Mike Bloomberg himself would be impressed with their approach.

Some days it occurs to me that luxury fashion writers, in particular, spend way too much time talking to financial analysts — and not analysts from the world’s most important financial institutions.

After reading the BoF Bloomberg article, I then read — again from HSBC, the same financial institution that financed all of Donald J. Trump’s bankruptcy business messes, when no other bank would — that the current Louis Vuitton brand strategy is a “hodgepodge”.

If I can speak candidly, a financial analyst from HSBC is the last person I’d be looking to for advice on any business topic, let alone Louis Vuitton. That’s just my opinion, but I’m more interested in what Jamie Dimon, chairman and CEO of JP Morgan Chase, has to say on the subject.

Will Price and Sabrina Carpenter wearing Dior by Jonathan Anderson at his Spring 202t6 menswear debut in Paris on June 27, 2025. via Dior IG

Personally, I’m pretty fired up over fashion writers and financial analysts who are running through a stable of great LVMH brands waving their meat cleavers. Their audacity in suggesting that they are smarter than fashion and design’s most qualified, informed, exposed and entrepreneurial talent bank in the luxury business — the professionals at LVMH — leaves me speechless.

When writers Rascouet and Patel went for Delphine Arnault for not already turning around Christian Dior, when it was the toast of the town until a year ago, it was just too much for Anne to digest — especially when they left out critical business actions that Arnault has taken at Christian Dior in the last year.

Goldman Sach’s Issues a Buy With Conviction on LVMH

My case for LVMH got a big boost Monday, July 7th with Goldman Sach’s decision to add LVMH to its European Conviction Buy list. Goldman’s Louise Singlehurst recommends investors "look through Q2 softness and Buy into LVMH" as a clear winner in the next luxury upcycle, noting asymmetric risk reward with potential upside of 69% versus 5% downside.

Goldman cited the arrival of Jonathan Anderson at Dior and Louis Vuitton’s Beauty Business as business boosters.

Goldman also agreed with me that the LVMH selloff of one-third of its value is irrational. This volatility puts additional pressure on all of us to write fairly and accurately about businesses that are key to global financial stability and the goals of our own industry. The overt and persistent snideness towards the Arnault family is a bit much, in AOC’s opinion.

Dior got a nice boost today when Kate Middleton wore the brand for the first time in public, greeting the arrival of French president Emmanuel Macron and France’s First Lady Brigitte Macron. Her couture suit was overseen by Maria Grazia Chiuri before her departure. Middleton’s official gown worn at tonight’s dinner hosted by King Charles and Queen Camilla was designed by Kate favorite Sarah Burton, now at Givenchy. ~ Anne