LVMH Chairman and CEO Bernard Arnault, Louis Vuitton Men Creative Director Pharrell Williams, Louis Vuitton Chairman and CEO Pietro Beccari

When LVMH named Pietro Beccari Chairman and CEO of the LVMH Fashion Group including Celine, Fendi, Givenchy, Kenzo, and Loewe, the tongue-wagging was astounding. Especially on a highly-regarded media property.

To be clear, Beccari is retaining his position as Louis Vuitton Chairman and CEO — which makes him the boss of a huge piece of LVMH. And contrary to the view of one or more LVMH insiders out there, AOC does not see how Beccari is weakened by this change.

In AOC’s opinion, the exact opposite is in play.

Lies and More Poppycock Lies

LVMH is not your typical, rumor-mill establishment, so to read one accomplished and generally-accurate pundit saying that Beccari misses Italy and wants to return home prompted me to stop and start over.

It made no sense to me, but she captured my full attention. For the record, I have zero insider contacts at LVMH. But my track record of commenting and calling next steps on the business is terrific.

It was true with Chiuri — truly wanting to return to Italy — but Beccari is really getting his groove on, as one of the most creative-combustion, profit-focused, experiential luxury shopping visionaries ever in the luxury business. He’ll have plenty of time to chill — like maybe in 15-20 years. Just kidding, but the man is only in his late 50s.

Back to the rumor mill, exploited in the hands of the very capable, knows-her-stuff journalist.

The second clarification followed in short order with an explanation that the real issue is the increases in Beccari’s French taxes that has him wanting to leave Paris. AOC began to wonder if we’re writing about the same man, because LVMH can fix any and all money issues bothering Beccari.

The taxing the wealthy ‘temporary’ 2026 budget increases are formidable in France — and the exact opposite of tax decreases for the wealthy in Trumplandia. Bernard Arnault is very open about the taxes he does pay, as does the family. You can say whatever you wish on wealth and taxation, but the Arnault family runs circles around America’s wealthy in contributing to the wellbeing of the French republic.

It’s in the public record and Bernard Arnault has no problem telling you exactly how much he pays in taxes.

Prizegiving Ceremony, Pietro Beccari, Chairmain and CEO of Louis Vuitton, Bernard Arnault, CEO of Louis Vuitton LVMH, Peter Burling and Nathan Outeridge, Emirates Team New Zealand during the 2024 37th America's Cup on 19 October 2024 in Barcelona, Spain - Photo Daniel Forster / DPPI via Alamy

Enter the Disgruntled Gossipmonger

With LVMH being so tight-lipped, I assumed that this anti-Beccari rumor blitz was coming from a trouble-making, internal gossipmonger stirring up this slimy stew on the back burner. Even a CEO of an existing brand business. When it boiled over the third time, leaving me to wonder how the writer and AOC could be diametrically opposed on Beccari, when we agree on most everything else. It was time for her to stop talking — and she did.

In chapter three, the story was that by promoting former Loro Piana CEO Damien Bertrand to LV Deputy CEO and a member of the LVMH Executive Committee, Beccari — age 58 — really could go back to Italy, and he would hardly be missed.

All the individual CEOs in the LVMH Fashion Group are very capable of running their respective brands and don’t need any help from Beccari, she wrote. There’s no doubt he is weakened, she claimed. Case closed. She has Beccari on the way out, when Anne has him and Pharrell Williams making all kinds of good trouble with the new Louis Vuitton project in Beverly Hills breaking ground in 2026.

And media wonders why LVMH doesn’t talk much to the press.

LVMH Won’t Be Kicked Around Two Years in a Row

In Anne’s humble opinion, the challenges LVMH had with its stock getting pummeled in 2025 was due to all this idle speculation about succession and the impending downfall of Dior, which had positive results in 3rd quarter 2025, FYI.

The LVMH stock falloff and projected value compared to other brands eventually reached a level of absurdity not grounded in any real-world, financial benchmarks. I’m speaking about financial analysts, which I did name but no need to dig up that dead dog.

AOC was apoplectic over what I was reading and said so more than once. Suddenly, within three-four weeks, multiple, highly-respected, women financial analysts called timeout on catastrophe at LVMH and they helped to steady the ship. Everybody else suddenly agreed that perhaps there was a tiny over-reaction among financial media and analysts, too.

I do not own any LVMH stock but pride myself on my business acumen and confidence that the LVMH leadership knows what they are doing. When I read the Pietro Beccari nonsense a few weeks ago, I said “Here we go again.”

This irrational business valuation nightmare will not get a replay in 2026 — except in a catastrophic event. Beccari’s too busy launching ‘retailtainment’ flagships that blend spectacle and cultural experiences with shopping. I expect TED Talks in the near future.

'The Louis' Louis Vuitton flagship store in Shanghai, China, June 25, 2025. via Alamy

Like Bernard Arnault, Pietro Beccari’s Eye Is on the Prize

From what we know about Beccari, one of the more charming and brilliant alpha males — correct that: ALPHA MALES — in the luxury fashion sector, he’s a man on a mission. Give him a mountain to climb to the summit, and he suits up with the right equipment and gets a move on.

The Louis Vuitton Chairman and CEO has run both Dior and Fendi, before scaling new heights at LV. Who besides Pietro Beccari would have the guts — with his partner Bernard Arnault, of course — to drop a football-field-long ship named ‘The Louis’ onto a prime shopping street of Shanghai. And leave it there.

The Wall Street Journal ran a story this week reminding us that the Shanghai ship that never sails is the work of Beccari, who likes to tell his staff “Don’t think big, think huge.” It’s one of his strongest expectations of talent on his teams; and he says it in almost every interview.

WSJ writers Nick Kostov and Hannah Miao shared a plum of a little story that runs true to what AOC believes is going on with Pietro Beccari and Bernard Arnault.

Architect Frank Gehry and Bernard Arnault are best described as two creative giants with creative minds running wild together. Gehry’s recent passing gave Bernard Arnault the opportunity to address this aspect of their relationship, when creating the Fondation Louis Vuitton in Paris. The Chairman expressed the critical nature of their shared visions for the new museum and how they amplified and built on each other’s creative ideas about the value, purpose, long-term mission and design aspects of the museum within the community at large.

Bernard Arnault thrives on this creative combustion process, which is why the small, moment-in-time event shared by WSJ is precious.

Running Wild and Being Totally Crazy

WSJ put the two men — Arnault and Beccari — touring the progress at the Paris Louis Vuitton Hotel construction site in mid-October 2025.

As they left the site, Arnault, visibly energized by the scale of the undertaking, turned to Beccari, smiled and tapped him on the arm. “We are totally crazy, aren’t we?” he said.

Beccari is not going anywhere soon; and I’m well aware that the family has absolute control of LVMH. After the needless mess created for LVMH stock over much of 2025, Anne believes there is some emergency clause that keeps Beccari at LVMH for a good while longer if necessary — like a terrible health event with the Chairman.

I argued at length with top-tier, scenario-planning AI over my theory, and in a state of rare failure I couldn’t bring the AI around to my pov. “I know the damn facts,” I complained. “Why do you assume that the family doesn’t agree with such a rider? This is not the Rupert Murdoch family. They actually like each other.”

Bernard Arnault’s own contract was changed in 2025 to give him another 10 years at the helm. Gehry had yet another decade, working to the very end of his extraordinary life at age 96, and Arnault sees himself in that mold.

Nevertheless, the real world out there can mess up the best-laid plans. Just ask the visionary co-founder of Apple Steve Jobs, who passed on October 5, 2011 at the age of 56 with pancreatic cancer.

Anne drags out the game-changing, 1997 Apple commercial every couple of years for our new reader-friends who haven’t ever seen it. Even if I couldn’t convince the scenario-planning AI about Beccari’s role at LVMH being so essential to the LVMH business that it’s a rider on some addendum in his paperwork, I’m not giving up.

Rallying The Fashion Group in a Break-the-Glass Moment

Pietro Beccari knows how to inspire and leverage talent to the high heavens. In his role with The Fashion Group, the genius coach might have to rally the rest of the LVMH fashion troops higher than they ever thought they could soar. There’s some serious talent in these brands and several LVMH designers and creative directors are getting rave reviews, not only one.

If a conductor is needed for an LVMH orchestra to pick up the slack from Vuitton or Dior, Beccari can imagine it.

Louis Vuitton CEO Pietro Beccari absolutely sees creating immersive cultural experiences as vital, viewing them as essential for the brand's future, believing people want to join a cultural movement, not just buy products.

This is not the typical mind of the creative director. It’s the mind of a leader who didn’t hesitate once over bringing Pharrell Williams to Louis Vuitton Men, even though Vanessa Friedman at the Times still hasn’t recovered. Love you Vanessa. Friedman was not alone.

Anne was in a state of bliss, of course, as I’m in Virginia waging the good fight, because of Pharrell.

WSJ notes, and AOC has written more than once — Beccari can roll out fresh ideas faster than others can write them down. Now elevated to partner tighter than ever with LVMH Chairman Arnault across the fashion business these two dudes can get even crazier: TOGETHER.

A business the scale of LVMH always needs a Plan B brainiac visionary onboard. As luxury brands evolve into the realm of cultural experiences, LVMH’s Plan B brainiac is Pietro Beccari.

I’m riding with him, and Chairman Arnault, of course. Those gossipmongers can eat cake.

All their petty grievances achieve is to remind me of why we need a Pietro Beccari, who thrives on more noble challenges in life; is on deck with a new script in 15 minutes; and ready to rumble in 15 more. And also why we need a Bernard Arnault, who thrives in the company of excellence. Peace out. ~ Anne