Alain Chevalier, co-founder of luxury holding LVMH, has died at the age of 87. The Frenchman was at the helm of Moët Hennessy in 1987 when he joined forces with Henry Racamier's Louis Vuitton.
“Ambassadors of elegance and French refinement”
The office of the French president himself released a press statement in which the Elysée calls Chevalier a visionary and praises LVMH's brands as "beautiful ambassadors of elegance and French refinement". LVMH is the result of the merger of Louis Vuitton with Moët Hennessy, itself a 1971 merger of champagne manufacturer Moët & Chandon and cognac manufacturer Hennessy.
The luxury holding was acquired by Bernard Arnault in 1989, who is still majority shareholder. Today, LVMH owns more than sixty brands, from spirits (including Veuve Clicquot and Dom Pérignon) over fashion and accessories (Dior, Givenchy and others) to the hotel chain Cheval Blanc.
The Elysée Palace emphasises that Chevalier put his intelligence and talent to use of both politics and industry. With his vision and determination he contributed to France's number one position in the luxury sector. The family confirms that Alain Chevalier died on November 1st in his house in Megève.