The Vuitton family's patriarch brought in Bernard Arnault and was fired from LVMH, and Arnault has locked his own five children into a 30-year holding

Henry Racamier married a Vuitton heiress. When he took charge, the Louis Vuitton workshops supplied two shops in France with sales of €1 million a year. In 1987 he merged Louis Vuitton with Moët-Hennessy to form LVMH. He fell out with LVMH chairman Alain Chevalier, who brought in Guinness as a shareholder, and sought the help of the financier Bernard Arnault. Arnault became LVMH chairman in January 1989. On 14 November 1989 the LVMH supervisory board fired Racamier, then 77, as vice president and director general, saying his lawsuits against the group were against its interest. A Paris commercial court had just let him delay a Louis Vuitton shareholders' meeting to 15 March. He lost the struggle in 1990. His attempt to build a second group around Lanvin came to little, and he died in 2003. In July 2022 Arnault, 73, turned his family holding, Agache, into a limited partnership controlled by Agache Commandite SAS. His five children, Delphine, Antoine, Alexandre, Frédéric and Jean, own it in equal shares and may not sell for 30 years. The family then held 47.99 percent of LVMH and 63.5 percent of its votes. Arnault has not named a successor.