Bernard Arnault’s 32-year-old son Alexandre Arnault is set to join the board of ski wear brand Moncler six months after French giant LVMH struck a deal with the Italian company.
Alexandre’s nomination as a board member is still subject to a vote at Moncler’s shareholder meeting in April.
The move would be an additional role for Alexandre, who sits on LVMH’s and Birkenstock’s boards. He is currently deputy chief executive officer of LVMH’s wines and spirits unit Moët Hennessy, which made $6 billion in sales last year.
Last September, LVMH invested in Double R, Moncler’s largest shareholder and the vehicle owned by its CEO, Remo Ruffini. The Paris-based company bought a 10% minority stake at the time but has the option to increase its stake in Double R up to 22%, which would increase its indirect stake in Moncler to over 4%.
A part of the deal also gave LVMH the right to appoint two board members at Double R and one at Moncler, as demonstrated by Alexandre’s nomination.
Ruffini said the LVMH stake gave Moncler “the stability needed to execute my vision for the future,” according to a statement.
LVMH appears to be strategizing around the most lucrative parts of its business as it weathers a brutal luxury downturn that has lowered its sales. Moncler, a rare outlier that’s bucked the slowdown, could be key to this.
The Italian outwear company that makes $2,000 ski jackets saw sales outpace expectations in 2024, up 7% year-over-year to €3.1 billion ($3.3 billion). Strong demand across all regions—particularly Asia, where demand has been sluggish in some countries—drove its growth.
Moncler also plans to appoint cosmetics company Coty’s CEO Sue Y. Nabi and former Audemars Piguet CEO Francois-Henry Bennahmias to its board along with Alexandre.
Any movement in leadership roles among the Arnaults is closely watched in the luxury industry for hints of what CEO and chair Bernard Arnault’s succession might look like. However, he may not retire anytime soon, as the company is considering raising the maximum age for anyone holding the helm to 85.
Still, the children are being groomed for various leadership roles within the company, and four of the five have seats on LVMH’s board.
Alexandre joined Moët Hennessy recently, before which he held executive roles at Tiffany and Rimowa.
“By transitioning to a Paris HQ position, Alexandre gains proximity to the group’s strategic core,” Alan Hunt, partner at law firm Lewis Silkin, told Fortune in November. “For LVMH, such appointments reflect a blend of immediate business needs and long-term leadership development, ensuring the family legacy remains intertwined with the group’s continued innovation and global dominance.”
Other changes are afoot within LVMH, too. Earlier this month, Frédéric Arnault, one of the Arnault heirs, was announced as the CEO of Loro Piana, an Italian luxury maison under LVMH. His earlier roles were at the conglomerate’s watch division.
Louis Vuitton also announced its foray into prestige cosmetics, which has proved resilient despite tight consumer spending. The strategy of offering shoppers something relatively inexpensive and yet luxurious is familiar—many other top-tier brands have done so recently—but experts told Fortune that it could be a big win for the company if it takes off.
Representatives at LVMH didn’t immediately return Fortune’s request for comment.
Clarification, Mar. 28, 2025: This article’s headline has been amended to clarify that LVMH bought a stake in Moncler CEO’s personal holdings of the company.
