MILAN — Alexandre Arnault, deputy chief executive officer of LVMH Moët Hennessy Louis Vuitton’s wines and spirits division and the son of luxury titan Bernard Arnault, is among candidates for a seat on the Moncler board.
The development follows the deal inked last September between Moncler’s chairman and CEO Remo Ruffini and LVMH, whereby the luxury giant purchased a 10 percent stake in Double R, the investment vehicle controlled by the Italian businessman and the largest Moncler shareholder with a 16.9 percent stake.
The nomination of Alexandre Arnault to the board aligns with LVMH’s acquired rights to appoint two members to the board of Double R and one member to the board of Moncler.
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A shareholders’ meeting scheduled for April 16 will have to green light the nomination of Arnault, as well as the proposed increase in the number of board members to 15 from the current 12, according to filings issued by the publicly listed Moncler.
Pending shareholders’ approval, the new Moncler board could also see other additions, all with proven track records in the luxury industry. They include Coty CEO Sue Nabi; former Neiman Marcus Group CEO Geoffroy van Raemdonck, and former Audemars Piguet CEO François-Henry Bennahmias, among others.
Following the news, shares of Moncler SpA closed up 0.1 percent to 58.68 euros on Thursday.
Confirmed board members proposed by Double R include tennis player Maria Sharapova; businessman Marco De Benedetti; Alessandra Gritti, vice president and CEO of Tamburi Investment Partners, as well as Moncler’s Ruffini and Robert Philippe Eggs, chief strategy and global markets officer, among others.
Arnault joined the wines and spirit division of LVMH last November as part of an executive shakeup that saw the group’s longtime chief financial officer Jean-Jacques Guiony move to the role of president and CEO of the division, known as Moët Hennessy.
Prior to his role as deputy CEO of the division, Arnault had been executive vice president of product, communication and industrial at Tiffany & Co. in New York since 2021, ramping up the American jeweler’s profile with attention-getting campaigns, buzzy ambassadors and new product ranges like its hit Lock line.
Before that he was CEO of German luggage firm Rimowa, and family investment arm Agache, where he focused on digital innovation and tech investments.
Arnault started his career at consultancy McKinsey & Co. in the U.S., and then at private equity firm KKR.
