PARIS, July 27 (Reuters) - Bernard Arnault, the billionaire chairman of French luxury group LVMH, has dismissed media reports of a bitter succession battle among his five children, insisting in rare public comments about his family that it remains united.
Investors have long sought greater clarity on who will eventually succeed Arnault, 77, after nearly four decades at the helm of the luxury conglomerate. Some say the lack of visibility over succession planning is becoming a risk for LVMH.
But Arnault, who oversees the €230 billion ($262 billion) owner of brands including Louis Vuitton, Dior and Tiffany, has shown no sign of stepping down and has yet to name a successor.
In a lengthy post on X responding to a recent series of reports by French daily Le Monde, Arnault dismissed suggestions of family divisions as fiction.
"With the Arnaults, apparently, there is no discussion, only plotting; no deliberation, only rivalry. It's the stuff of novels," he wrote.
"In the real world, my children run Houses, build teams, make decisions, and — sacrilege — call each other on Sundays," he added, referring to the LVMH brands overseen by several of his children.
"What is called a Sunday in an ordinary family is called a plot in ours."
Le Monde also examined Arnault's influence through his media titles, his political clout and his relationship with U.S. President Donald Trump.
After the post on LVMH's X account drew a flood of responses, Arnault said on a newly created personal account that he was "deeply touched" by messages of support.
His five children — Delphine and Antoine Arnault from his first marriage, and Alexandre, Frederic and Jean from his second — all hold senior roles within the group.
Last year, LVMH raised the age limit for its chairman and chief executive role to 85. Asked about succession at the company's annual meeting in April, Arnault suggested the question be put to him again in seven or eight years.
Arnault said he hoped his social media post would discourage those "betting on a family rift to sell newspapers", adding they would be waiting a long time.
($1 = 0.8780 euros)
Reporting by Dominique Patton and Florence Loeve. Editing by Mark Potter
Source: Reuters