ONE OF MY FAVOURITE PODCASTS, Acquired, has a great episode on the ascension of LVMH from a struggling French textile company called Boussac Saint-Frères to the luxury juggernaut it is today, thanks to the man himself, Bernard Arnault. In 1984, Arnault invested US$15 million (S$21.1 million) of his money to own a part of Boussac Saint-Frères, along with other investors.
In contrast to other corporate raiders of the time, who simply bought businesses to strip them down and sell them for parts, Arnault had a unique vision. He believed in the magic of branding and luxury, and he knew that time was a vital ingredient for building something great.
This story comes to mind because Arnault implements the same playbook across all the different luxury brands he acquires, and it has always paid off in spades. In many ways, the Louis Vuitton watchmaking division follows Arnault's vision: crafting timelessness through passion while building the "utmost level of modernity". Nine women cannot have a baby in a month. The same is true of developing a deep expertise in horology. It requires time, space, and experience.
One Step Forward In
Time Louis Vuitton's first foray into watches began in 1988 with the Louis Vuitton LVI and LVII models. The maison drew on the talents of renowned Italian architect and designer Gae Aulenti, the women best known for transforming the Gare d'Orsay railway station into the now-iconic Musée d'Orsay in 1981.
The LVI, also known as the Monterey I, was developed in partnership with IWC.
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