"Okay, the next big news about a well-known company is that the current board member of LVMH and the former CEO of LV, Henri Lacamier, is dissatisfied with the current CEO of LVMH, Bernard Arnault, about the way the company is run and how he treats the company.
Too much interference from the LV brand. When he took the stage to speak at the LV autumn conference at Paris Fashion Week today, he publicly expressed his dissatisfaction with the decision-makers of LVMH. He believed that
Due to the interference of Bernard Arnault, the design of some of this year's new products did not reflect LV's brand expertise at all. The press conference was also crude and vulgar, with no sense of innovation. He even blasted his company's board of directors for being blind and allowing them to
A layman who built a house acted so recklessly that LV's style became worse and worse, its products became more and more tacky, and its secular aesthetic made LV almost the same as a second-rate brand..."
"At the same time, we have also noticed that LVMH's stock price fell sharply by 3% in today's stock market. There are rumors that today's LVMH stock price change is due to disputes within the LVMH group. Henry Laca, the heir of LV
Miye was dissatisfied with Bernard Arnault, the actual controller of LVMH, who submitted a retirement plan to the board of directors at the age of 70. In order to avoid committing suicide
He has resigned from the board of directors because of the new system, thereby completely losing control of the family brand. He is planning to sue Bernard Arnault in a legal lawsuit. He claims that the current top decision-maker of LVMH has no control over the management and operation of the group company.
There are considerable illegal activities, and we also plan to use this as a reason to apply to re-split the LVMH group..."
"Okay, let's connect with our off-site reporters again and let's take a look at what the guests at today's LV autumn conference think of this unexpected incident in the fashion industry."
On the glowing TV screen, as the host of the French news channel ended the on-site broadcast, the TV camera screen turned to the LV autumn conference.
The reporter on the sidelines of the news program briefly introduced the situation at the scene, and soon handed the microphone to a paunchy man.
The fat man in the middle who was asked for his opinion was the executive vice president of LVMH according to the identity the reporter just verbalized.
"Oh, today is such a disaster for this conference. Henry is crazy and talks nonsense. His performance today is too disgraceful. I have always respected his artistic style and respect him as the inheritor of the LV brand.
identity, but now I am only deeply disappointed with him. This guy is simply an arrogant man, and his accusations against Mr. Arnault are purely prejudice. You know, there will be some objections to any product of every brand.
, but it is right to be controversial
Often, because as a commodity, you need to find a balance between artistic and commercial value. So in any case, he should not ruin the reputation of his company on this occasion. I think his words and deeds today are considered vulgar. He
It completely hurts the feelings of all of us. I mean, everyone knows the importance of this conference. Many people at LVMH have devoted their efforts to it. We have worked so hard, but he is laughing at it. Isn’t this?
Is it a sign of being educated?..."
The camera on the TV screen changed again, and the reporter on the sidelines continued, "Okay, let's listen to other people's opinions."
This was followed by interviews with several on-site guests.
Alain Delon was holding up champagne, "You ask me what I think? I don't know. The scene that happened today was something that everyone expected. To be honest, I have no objection to LV's product design. After all, I am a woman."
Something I like. I simply didn’t expect that LVMH is already full of internal contradictions. I’m very worried that this brand that has maintained its reputation for hundreds of years will decline because of this. This is our luggage brand like a pearl in France. After all, it has commercial operations.
People all understand that in any company, no matter how excellent the product is, the stability and unity within the company is the most important. Isn’t it? I’m just glad that I didn’t buy too many LVMH stocks. God, I just hope that the stock market will
Don't react too violently to this matter, so that I can sell it at a smaller loss tomorrow..."
Catherine Deneuve came over on her own initiative. Her face was pink, and she seemed to be a little drunk on champagne, so she was unceremonious, even unscrupulous, talking to the camera.
"Oh, I have to say. The scene that happened today finally made me understand why I dislike some of LV's new products this year. I'm afraid they are indeed the work of an outsider. I don't care what others say, anyway, from
From the perspective of a user like me, I hope that the things I use are full of creativity and design. I can only say that if this matter is as I think it is, the designer's creativity will be deprived of it because of the competition for interests within the company.
Right, that’s really disappointing. The fashion industry is not that simple. It’s not just about adding high-end materials to brands to create good things that people like. The key is taste and creativity. You can think about it, if a fashion brand doesn’t have enough
The soul who supports it, or the brand has to adopt many restrictions in creation, and everything is considered from practicality and commerciality, then the brand will have no practical significance. This is why I used to like Dior, but now I have changed
Being surrounded by Yves Saint Laurent, the answer is the designer..."
It was the afternoon of Thursday, October 15, 1987.
The location is Bernard Arnault's office at LVMH headquarters.
The only people in the room at this time were Bernard Arnault himself and his financial backer from Lazard Bank, Frank Meyer.
They had finished reading the reports on the news channel together. Needless to say, their expressions were not very good at this time.
"Haha, you actually played such a little trick on me."
Bernard Arnault sneered disdainfully at his partner sitting across from him, "Henry is now an old lunatic at the end of his rope. I thought he would know how to be powerful and retire for me honestly. I didn't expect him to do such a thing
This is disgusting..."
"It's true." Frank Meyer immediately agreed, "This guy actually slandered his own brand in public, which will greatly shake the public's confidence in LVMH. You have seen those remarks, and even those celebrities have doubts about LV products.
If so, more people will be affected by them, and it will be terrible once this matter ferments..."
"Asshole, those Alain Delon and Catherine Deneuve actually turned against me? As guests, they dared to slander LV's reputation. If I knew who invited them here, I would definitely expel him. And that Henry
·Lacamier, he is simply asking for death. Now there is no need to wait until the age of seventy to retire. The proposal has been passed. Tomorrow I will convene the board of directors and propose a proposal to suspend him and completely prohibit him from participating in any business activities related to LV.
.All board members will agree with my decision."
Bernard Arnault continued to be indignant and complained to his sponsor.
However, Frank Meyer was not interested in the power struggles within his company. He only cared about his own investments.
"Don't be angry, these are just trivial matters. The top priority is that we must make amends for this matter as soon as possible, try to restore the impact, and maintain the stock price. We must not allow this kind of thing to develop. We have finally managed to get things done.
At this stage of operation, the stock price is now high, and you have obtained absolute controlling rights. As long as you persist, you will win. No one will have sufficient financial resources to compete with you for chips. According to LVMH’s current revenue
Judging from the current situation, the release of the third quarterly report at the end of the month will be enough to maintain the current stock price, so no new changes can occur in important matters now. As long as the stock price can be stabilized, you can slowly eliminate the things you don't like.
People will kick out of the company and then completely digest the fruits of your victory."
"Yeah, I know this." Bernard Arnault nodded, "But you don't have to worry too much, I am also capable of doing this. I will hold a press conference tomorrow to clarify this matter. My authority on the board of directors has been deeply entrenched.
The public will see the unified opinion of the LVMH board of directors through the media. As for excellent designers, it is not easy to hire. They say I am an outsider, but as long as I am willing to spend money, I can hire experts. No matter how famous the designer is, I can do it.
Bundle it to LVMH’s chariot. You should understand that Dior clothing is just for me to revitalize.”
"Then you shouldn't be careless." Frank Meyer shrugged, noncommittal. "I have to remind you that you are now the boss of a listed company, and the impact of stocks on market value is very important. The stock price itself is enough to reflect the public's opinion of the company.
Your confidence. If the stock price falls, there will be a more serious loss of confidence in the public. I have seen the stock market today, and the turnover rate is almost 4%. It has not been such a high transaction amount for a long time. Based on my experience
Experience, this is not a good sign, there must be a big selling order. So I have to worry about whether your opponent intends to use this desperate approach to lower the stock price and deliberately short. You must know that Henry has 30%
As for the shares, his friend Pierre Carton also holds some shares. If they want to, they can really bring down the stock price, and then we will have to bear the huge risk of floating losses..."
When he said this, Bernard Arnault couldn't help but become suspicious, "You mean, this is a conspiracy deliberately carried out by Henry. Maybe Henry did this deliberately because he planned to short-sell LVMH's stocks. But the problem is,
What benefit does this do to him? When the stock price is high, he can at least make money by selling it slowly. Could it be that they have suffered so much and still have illusions at this time, and want to make arbitrage by borrowing securities, and then
Buy back shares at low prices?”
"I don't know." Frank Meyer shook his head. "If they were rational, of course they would know that when our shareholding has reached 40%, it is no longer realistic for them to compete for the company's equity. But the problem is
...Does your opponent still have sense now? Henry must have sense and be able to publicly slander LV's reputation? That is the thing he cherishes most."
Frank Meyer looked at the person in power sitting behind the desk with a joking expression, "To be honest, even I have to say that you are really despicable in the way you make trouble. You have deceived almost everyone."
Man, you took advantage of everyone's trust in you to get all this. And you are so ruthless. As soon as you get the equity, you will kick everyone away and completely deprive them of all power in the company. I
If it were them, I would be so angry that I might even retaliate at all costs. So hatred may explain everything. Maybe they just want to see you suffer misfortune. After all, LVMH's stock price is seriously out of touch with its fundamentals. They
Doing this has a greater chance of success. Although there is no way to save the situation, it can at least make you suffer huge losses in the value of the stock."
But after hearing what he said, Bernard Arnault smiled instead and said it without any dissatisfaction.
"Then they have found the wrong opponent. I will never lose. I will ask someone to check it out. If I really think what you said, then I will swallow up their shares and then
The stock price is pushed up. They are giving me money."
You know, the first company that Bernard Arnault succeeded in usurping the throne was his family company, and the first chairman he fired was his father.
Even Dior clothing was obtained by defrauding the French government by acquiring the Bossac Textile Group and then dismantling and selling it in a word game.
So why does he care about this when he has done so many immoral things?
When others mention it, he will only be proud of his huge profits and the pain he has brought to others.
However, there is still a very practical question: does it require money to acquire shares? Where will the money come from?
"I'm talking about old friends. How about raising another 200 million US dollars for me? If, I mean if, they really do this, I will completely blow them up this time. By then, I will let them even close their stocks at low prices.
I can’t buy it.” Bernard Arnault asked with a smile.
However, Frank Meyer refused.
"I think it's better to forget it. I said we can't just watch them quietly jump off the building to their death. They have to intervene. Besides, I've given you too much money. There is discipline inside the company, and there is also discipline outside.
Pressure, our total funds at Lazard in France are only that much, and most of them are given to you. From the perspective of risk diversification, it is impossible for me to give you any more money."
"Then it won't work if I take out the collateral?" Bernard Arnault still asked persistently.
"Collateral? No, no, you mean LVMH shares, right? Since you want to operate this stock, the fluctuations will increase. Of course, you cannot use this stock as collateral."
"No, I'm talking about Dior clothing. LVMH's stock price has nothing to do with Dior clothing. The company's current market value is more than one billion US dollars. I will pledge 20% of the shares in my name to you. Is that enough? And I can
I’ll give you double the interest, and you can put half of it in your own pocket, you damn Jew!”.
"Well, you can think about it." Frank Meyer finally relented.
Bernard Arnault was also happy now, "Okay, old friend. I won't let your help go in vain. Our cooperation has always been seamless and always goes to our advantage. Isn't it right?"
At this point, the two subtle ghosts who were full of money calculations finally reached an agreement on business and countermeasures.
However, the next day on October 16, the last trading day of the week, something even more surprising happened again, so that everything they had planned could not be counted.
Not for anything else, because they discovered that even Dior clothing had begun to be sold in large quantities, and the sales were even stronger than LVMH. The turnover rate was as high as 6%, and the stock price fell by 7% in one day.
At this moment, both of them felt extremely strange and worried.