Bernard Arnault, the Chairman & CEO of LVMH Moët Hennessy Louis Vuitton and the world’s fifth-richest individual with a staggering net worth of $168 billion, is known for his exceptional taste in luxury. While his stunning summer house on the sea, the Symphony, valued at $150 million, is a testament to his wealth, it appears that Arnault is looking to expand his horizons even further.
As the mastermind behind an empire encompassing over 70 fashion and cosmetics brands—including the likes of Louis Vuitton and Sephora—Arnault’s ambitions are set to include the luxury yacht sector. Reports from Corriere della Sera indicate that LVMH is particularly interested in acquiring Ferretti, an esteemed Italian luxury yacht manufacturer known for its iconic Riva motorboats.
Founded in 1842 by Pietro Riva in the quaint town of Sarnico, Riva is a brand steeped in history, even predating Louis Vuitton, which was established in 1854. Riva achieved its zenith in the early 1930s, celebrated for its prestigious racing yachts that captured the hearts of the elite. In 1956, under the vision of Carlo Riva, the brand underwent a significant transformation with the introduction of innovative wood-based designs crafted in collaboration with designer and architect Giorgio Barilani. This period marked a new era for Riva, elevating its status in the luxury yachting world.
Another pivotal moment for Riva came in 1969 when the company began constructing vessels from fiberglass, further modernizing its offerings and appealing to a broader audience of affluent consumers. This strategic move not only enhanced the durability of their yachts but also introduced a new aesthetic that combined elegance with cutting-edge technology.
Arnault’s potential acquisition of Ferretti signifies a strategic expansion for LVMH into the luxury lifestyle market, reflecting a growing trend among high-end brands to diversify their portfolios. The allure of azure waters and the elegance of luxury yachts present an enticing opportunity for Arnault to blend his expertise in luxury goods with the world of opulent maritime experiences.
As he navigates this new venture, it will be intriguing to observe how Arnault’s influence reshapes the luxury yacht industry, merging the art of craftsmanship found in fashion with the timeless allure of yachting. For Bernard Arnault, the sea is not just a destination; it is an invitation to expand his legacy in the world of luxury.
Source: https://luxurylaunches.com/celebrities/bernard-arnault-riva-yachts-11062024.php