Bernard Arnault was born 5 March 1949 in Roubaix (59 year old).
After graduating from the Maxence Van Der Meersch high school,
Bernard Arnault was admitted to the École Polytechnique 
from which he graduated with an engineering degree in 1971.
Arnauit is married and has 5 children. After graduation, Mr Arnault
joined his father’s company. In 1976, he convinced his father to
liquidate the construction division of the company for 40 million
francs, and to change the focus of company to real estate.

He is a French businessman. He is the 13th richest person in
the world and France’s richest person with an estimated net
worth of $25.5 billion US dollars.

In 1984 the attention of Arnault was involved with recently become
bankrupt textile conglomerate Boussac which among the other
possessed also fashion house Christian Dior.Some companies
including Louis Vuitton, but Arnault has advanced all have become
interested in a tidbit.

Arnault unloaded Boussac’s disposable-diaper business and much of
its textiles operations, gaining a $400 million windfall in the
process. This sale enabled him to buy his way into LVMH in 1989,
purchasing $1.8 billion in LVMH shares and forging a deal that gave
him control of 24 percent of the group. A bitter power struggle
ensued between Arnault and Henry Racamier, the former chairman of
LVMH’s Louis Vuitton subsidiary and a member by marriage of one of
the firm’s founding families. After more than a year, Arnault won a
series of court battles, Racamier was ousted, and Arnault purged
LVMH’s top Vuitton executives. His takeover of LVMH was one of the
roughest in France’s business history and earned Arnault a reputation
for viciousness that was solidified by the numerous layoffs that
followed his rise to power. But many people respected Arnault’s
business strategy and penchant for risk taking. Among his admirers
was Gilles Cahen-Salvador, who at the time ran the financial firm
LBO France. "People like him are setting good examples for the
French economy," said Cahen-Salvador (BusinessWeek, July 30, 1990).

His tactics bears fruit. LVMH supervises now such brands, as Givenchy,
Christian Lacroix, Loewe, Kenzo, Guerlain, Berluti, Celine. Into
empire Arnault enter jeweller firm Fred and Swiss hour Tag Heuer.

The list of alcoholic brands in a collection of Arno is not less
impressive: cognac Hennessy, champagne Moet et Chandon, Dom Perignon, Pommery, Krug, Veuve Clicquot.
And the empire continues to grow - Arnault remains to one of the
most active buyers of the companies in the world.

Bernard Arnault has sustained one of the most shattering defeats in
the career last year when has tried to add to the collection the
Italian company Gucci. Holder Gucci of that time - bank Investcorp
asked $350 million.

However firm businesses have been so started that Arnault has
preferred not to contact it and has refused purchase. Then De Sole
has suggested Arnault to acquire completely Gucci. However the price
named it was too high: $85 for the share that on $30 more than its real
value. Arnault such money did not wish to pay.

Disappointed Arnault has submitted against De Sole the claim to the
Dutch court (Gucci it is registered as the legal body in Amsterdam),
having convicted him of unfair management of the company.

Arnault also owned the art auction house Phillips de Pury & Company
from 1999 to 2003.

Arnault faced a host of challenges in early 2004. The luxury market
struggled from declines in tourist travel, crucial to the sale of
designer goods, and several LVMH brands suffered from their own
financial troubles. Japan’s economy was another factor; in 2001 the
country accounted for 40 percent of sales at LVMH, but Japan’s
economy had been in a recession since 2003. It even seemed
questionable that mass-market brands could continue to command top
dollar. Nonetheless, Arnault was optimistic that he could continue
to generate a steady flow of profit from his brands while ensuring
the highest level of quality and creativity. As he told the
Washington Post (April 28, 2002), "The possibility of creating very
appealing products with architects, with designers and making it
commercially very successful is what I am good at, I think, and what
I like to do."

Step 1: Research and Plan Your Business
Use these tools and resources to help you prepare your business plan and become a successful business owner.
Step 2: Get Business Assistance and Training
Take advantage of free training and counseling services, from preparing a business plan to getting financing, and help expanding and relocating a business.
Step 3: Choose a Business Location
Get advice about choosing a customer-friendly location and complying with zoning laws.
Step 4: Finance Your Business
Find government backed loans, venture capital and research grants to help you get started.
Step 5: Register a Business Name ("Doing Business As")
Register your business name with your state government.
Step 6: Determine the Legal Structure of Your Business
Decide whether you are going to form a sole proprietorship, partnership, LLC, corporation, non-profit or cooperative.
Step 7: Get an Tax Identification Number
Learn which tax identification number you’ll need to obtain from the IRS and your state revenue agency.
Step 8: Register for State and Local Taxes
Register with your state to obtain a tax identification number, workers’ compensation, unemployment and disability insurance.
Step 9: Obtain Business Licenses and Permits
Get a list of federal, state and local licenses and permits required for your business.
Step 10: Employer Responsibilities
Learn the legal steps you need to take to hire employees.

Start Your Business

Starting a business requires you to complete a number of steps and make some key decisions. Though part of your overall plan, you’ll need to select a location, decide on a business structure, and obtain the necessary licenses and permits. In addition, determining which financing options will meet your short-term needs and long-term goals is crucial.

Choose a Business Structure

Find the best ownership structure for your small business. The most basic of all business legal structures is the sole proprietorship. Other possible structures include the popular limited liability company, a partnership, or an S corporation.

Register Your Business

Starting a small business requires the usual paperwork and regulations. Secretary of State offices register corporations, LLC’s, partnerships, and articles of dissolution. Setting up your small business may require an employer identification number. The EIN is also used by state taxing authorities to identify businesses.

StartUp Costs

Every business is different and has its own specific cash needs at different stages of development. It is vital to know whether you will have enough money to launch your business venture. To determine your startup costs, you must identify all the expenses your business will incur during its startup phase. Some of these expenses will be one-time costs, such as the fee for incorporating your business and the price of a sign for your building. Some expenses will be ongoing, such as the cost of utilities, inventory, insurance, etc. While identifying these costs, decide whether they are essential or optional. A realistic startup budget should only include those elements that are necessary to start the business. These essential expenses can then be divided into two separate categories: fixed (overhead) expenses and variable (related to business sales) expenses. Fixed expenses will include figures like the monthly rent, utilities, and administrative and insurance costs. Variable expenses will include inventory, shipping and packaging costs, sales commissions, and other costs associated with the direct sale of a product or service. The most effective way to calculate your startup costs is to use a worksheet that lists the various categories of costs (both one-time and ongoing) that you will need to estimate prior to starting your business.

Debt Financing

There are many sources for debt financing: banks, savings and loans, commercial finance companies, and the U.S. Small Business Administration are the most common. State and local governments have developed many programs in recent years to encourage the growth of small businesses in recognition of their positive effects on the economy.

Not All Money Is the Same

There are two types of financing: equity and debt financing. When looking for money, you must consider your company’s debt-to-equity ratio - the relation between dollars you’ve borrowed and dollars you’ve invested in your business. The more money owners have invested in their business, the easier it is to attract financing.