As chairman and CEO of LVMH, Bernard Arnault, 58, heads a global empire that not only pioneered luxury retailing, but also remains its most dominant and high-profile player. The $19 billion company (of which Arnault is the controlling shareholder) has more than 60 brands, including the standard bearer Louis Vuitton, as well as Donna Karan, Marc Jacobs, Dom Perignon, Fendi, Thomas Pink and Sephora, which has revolutionized U.S. beauty retailing.
Arnault, who is respected for his business acumen as much as his ability to nurture fashion talent, keeps extending his retail clout. In spring 2007, his holding company partnered with private-equity firm Colony Capital to buy a 9% stake in Carrefour. On the home front, Arnault is a formidable arts patron. His latest project: the creation of a center for contemporary art in Paris, designed by Frank Gehry.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.