Arnault Family to Simplify LVMH Control

Bernard Arnault and his family announced plans to simplify the holding structure of LVMH Moët Hennessy Louis Vuitton SE to consolidate control of the world’s largest luxury group. 

Under the plan, Christian Dior SE — one of LVMH’s holding companies — will be delisted, leaving Agache SCA as the sole controlling entity.

Christian Dior SE to Be Delisted

Agache, a limited joint‑stock partnership, will directly hold 49.76% of LVMH’s share capital and 65.55% of voting rights, effectively unifying the Arnault family’s stake, which currently stands at 50.33% of capital and 66.27% of voting rights. 

The move is seen as part of Arnault’s broader strategy to tighten family control and prepare for succession.

As part of the delisting, minority Dior shareholders will be offered a cash tender for the 2.44% stake not owned by the Arnaults, valued at about €1.63 billion ($1.85 billion). They may also choose to remain shareholders in the new Agache structure.

An extraordinary general meeting of Dior shareholders is expected before year‑end, with the tender offer scheduled for the first quarter of 2027, subject to approval by France’s AMF regulator. The offer will not be followed by a squeeze‑out, ensuring minority investors retain options.