Life, Death and LVMH
But the acquisition of Gucci sparked a practically two-and-a-half-year battle with fellow billionaire Bernard Arnault, CEO of rival luxury conglomerate LVMH, which also owned a stake in the firm. At the time, The New York Occasions labeled the legal war “one particular of the most bitter fights in corporate history.” LVMH sooner or later sold its stake in Gucci to PPR for $2 billion. Pinault started out working for his family’s timber company web site ahead of ultimately entering the retail market place. During the current European fair splurge, initial Frieze in London then the 1st iteration of Art Basel’s...