DP will outlive the iPhone, says Arnault

7th May, 2014 by Lauren Eads

Bernard Arnault,  chairman and CEO of luxury goods conglomerate LVMH, believes Dom Pérignon Champagne will still be enjoyed 20 years from now, long after the iPhone has fallen out of favour.

1 Bernard Arnault

Speaking to CNBC during a rare television interview the 64-year-old said his brands had the potential to outlive technology such as Apple’s iPhone, despite praising Apple for its popular handset.

He said: “Can you say that in 20 years people would still use the iPhone?

“Maybe not. Maybe we’d have a new product or something more innovative. What I can say today, is that in 20 years, I’m quite convinced that people will still drink Dom Pérignon.”

He also dismissed fears that the economic slowdown in China could stem the growing demand for Western luxury goods there.

Instead, Arnault expects buying power to increase all over the world – a trend which he said would continue for at least another 10 years to the benefit of his global empire.

He said: “As always in China, you have ups and downs.

“And in spite of what you can consider a lower level for growth, it’s still growing very fast. I am confident about the future of China.”

The French businessman is reported to be worth an estimated US$33.5 billion, according to Forbe’s rich list, making him the world’s richest man with a vested intrest in the drinks industry.

LVMH’s 60-strong portfolio includes high-end brands such as Dom Pérignon, Bulgari, Louis Vuitton, and Moët Hennessy.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

Administrative Assistant

Swig Wines Ltd
Chiswick, London, UK

HR Manager

Amathus Drinks PLC
London, UK

Beer Development Specialist

Matthew Clark
London, UK

Senior Sales Manager

Haynes Hanson & Clark
Gloucestershire, GB

Customer Services Administrator

Speciality Drinks Ltd
London, UK

National Business Development Manager

Speciality Drinks Group
London, UK

Inventory Analyst

Bibendum PLB
London, UK

Events Executive - Atom Supplies

ATOM Supplies Limited
London, UK

Off-Trade Sales Account Executive

Domaine Direct
Nationwide, working from a combination of home & London office.

Sales Executive/Brand Ambassador

Glenfarclas
Ballindalloch, Speyside, UK

Client Manager

Noble Rot
Wandsworth, London, GB

Spirits Investment Director

Stilnovisti
London, UK

Junior Brand Manager

Enotria Winecellars
Park Royal, London, UK

Content & Digital Assistant

ABVGlobal
London, UK

Sales Manager

Cellar Trends
London, UK

Champagne Masters 2017

Deadline : 7th July 2017

The Global Sparkling Masters 2017

Deadline : 10th July 2017

The Global Malbec Masters 2017

Deadline : 10th July 2017

The Global Syrah Masters 2017

Deadline : 18th July 2017

Click to view more

The Drinks Business Awards 2017

Now in its 15th year, the db awards have become the most authoritative, internationally respected badge of achievement in the alcoholic drinks industry.

The Asian Cabernet Sauvignon Masters 2017

the drinks business Hong Kong announces its first year of The Asian Cabernet Sauvignon Masters.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

Click to view more