Bernard Arnault, the chairman and chief executive of French luxury conglomerate LVMH, has publicly dismissed reports of discord among his children over the future leadership of the company. In a rare personal statement issued on the social media platform X on Monday, Arnault refuted recent claims suggesting a tense succession struggle within his family.

At 77 years old, Arnault has led LVMH for nearly 40 years, during which the company has grown into one of the world's largest and most valuable luxury groups. With Arnault’s eventual retirement anticipated, investors and market observers have increasingly speculated on which of his five children will assume control, seeking clarity on the company’s succession plans.

Arnault addressed these rumors directly, criticizing media accounts, including those from the French daily Le Monde, which portrayed the family dynamic as fraught with rivalry and plotting. “With the Arnaults, apparently, there is no discussion, only plotting; no deliberation, only rivalry. It’s the stuff of novels,” Arnault wrote.

He emphasized that, in reality, his children actively manage various LVMH brands, cooperatively building teams and making business decisions. He noted with a touch of humor that family interactions often extend into weekends, pointing out that what others see as ordinary Sunday gatherings are misconstrued by outsiders as secretive scheming. “What is called a Sunday in an ordinary family is called a plot in ours,” he added.

Arnault’s comments sought to reassure stakeholders that the family remains united as it navigates the company’s future leadership. However, given the complexity and scale of LVMH’s operations, succession remains an important topic for market participants and industry watchers. The extent to which Arnault’s children will collectively or individually steer the luxury empire following his retirement continues to attract close attention.