DP will outlive the iPhone, says Arnault

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Your email address will not be published.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

Supply Chain Assistant

Speciality Drinks
London NW10 7SF, UK

On-Trade Regional Sales Manager

Anthony Byrne Fine Wines
West Midlands & Northants

Supply Chain Co-ordinator

Speciality Drinks
London NW10 7SF, UK

Logistics Team Leader

Speciality Drinks
London, UK

Key Account Executive

Berkmann Wine Cellars
London, UK

Assistant Operations Manager

Speciality Drinks
London, UK

London Business Development Manager

Vine Distribution Services
Chelmsford, UK

Off-Trade Account Manager

Justerinis & Brooks
London, UK

Sales Account Manager x 2

Berkmann Wine Cellars
London, UK

Wine Sales Development Manager

Fuller's
London, UK

Vinitaly 2019

Verona,Italy
7th Apr 2019

The Wine & Spirits Show

London,United Kingdom
12th Apr 2019

Vinexpo Bordeaux

Bordeaux,France
13th May 2019
Click to view more

The Global Beer Competition 2019

Deadline : 28th March 2019

The Global Cider Masters 2019

Deadline : 28th March 2019

Click to view more

The Global Riesling Masters 2018

View Results

Rioja Masters 2018

View Results

Click to view more