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April 11, 2013

Bernard Arnault, second-gen chief executive of LVMH and France's richest man, has withdrawn his application for Belgian citizenship following continued accusations that he was trying to avoid the new 75% tax levied on incomes of more than €1 million.

Bernard Arnault, second-gen chief executive of LVMH and France's richest man, has withdrawn his application for Belgian citizenship following continued accusations that he was trying to avoid the new 75% tax levied on incomes of more than €1 million.

"I explained several times that I would remain a resident in France and that I would continue to pay my taxes there. In vain – the message did not get through," Arnault told French newspaper Le Monde in an interview on 10 April.

January 24, 2013

When it comes to business, the French really take family seriously – with as many as 80% of all companies in the country family-controlled. Whether big or small, French family businesses are particularly noticeable in sectors such as luxury, food and beverages.

When it comes to business, the French really take family seriously – with as many as 80% of all companies in the country family-controlled. Whether big or small, French family businesses are particularly noticeable in sectors such as luxury, food and beverages.

CampdenFB takes a look at some of the leading French family businesses in an interactive graphic below. 

March 27, 2012

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

Two European family businesses have posted poor financial results following “another difficult year”, but Li & Fung, a family-controlled trading group in Asia, has fared better.

In the UK, family-controlled Wates Group said on 26 March that revenues rose by 13% to £1.12 billion (€1.34 billion) in 2011.

February 24, 2012

Two of the world’s largest family businesses had a mixed week. US retail giant Walmart saw profits drop, while Peugeot Citroen reportedly looked to team up with General Motors to better compete in the fiercely competitive European car market. 

Two of the world’s largest family businesses had a mixed week. US retail giant Walmart saw profits drop, while Peugeot Citroen reportedly looked to team up with General Motors to better compete in the fiercely competitive European car market.

Walmart, the supermarket chain controlled by the Walton family, said net profits for the year ended 31 January 2012 fell by 4.2% to $15.7 billion (€11.69 billion), from $16.4 billion the previous year.

February 23, 2012

Marie-Christine Coisne-Roquette is one of the world’s top family business leaders. CampdenFB finds out what’s behind her success. 

February 21, 2012

Fung Brands, the investment arm of Hong Kong’s billionaire brothers Victor and William Fung, has acquired a majority stake in France’s family-controlled fashion house Sonia Rykiel.

Fung Brands, the investment arm of Hong Kong’s billionaire brothers Victor and William Fung, has acquired a majority stake in France’s family-controlled fashion house Sonia Rykiel.

In a statement released on 20 February, Fung Brands said it has bought 80% of the Paris-based luxury business, famous for its colourful knitwear and poor boy sweaters.

February 17, 2012

French family business PPR has announced strong results this week, boosted by its luxury division, but Greece’s Coca-Cola Hellenic has seen its profit plummet by 28%. 

French family business PPR has announced strong results this week, boosted by its luxury division, but Greece’s Coca-Cola Hellenic has seen its profit plummet by 28%.

PPR, the luxury and retail group controlled by the Pinault family, said revenues jumped 11.1% in 2011 to €12.2 billion, from €11.01 billion in 2010.

January 19, 2012

Liliane Bettencourt, the only child of L’Oreal founder Eugene Schueller, will continue to be under the protection of her family after losing an appeal to remove her estranged daughter and her two grandsons as her guardians.

Liliane Bettencourt, the only child of L’Oreal founder Eugene Schueller, will continue to be under the protection of her family after losing an appeal to remove her estranged daughter and her two grandsons as her physical and financial guardians.

On 18 January, a French court rejected Bettencourt’s request to overturn an October ruling that said the heiress suffers from "mixed dementia" and "modestly severe” Alzheimer’s.

December 1, 2011

French investment company Wendel, controlled by the founding family, is to sell its stake in electrical connections business Deutsch, as it attempts to reduce its €5 billion debt faster.

French investment company Wendel, controlled by the founding family, is to sell its stake in electrical connections business Deutsch, as it attempts to reduce its €5 billion debt faster.

The sale will see the family business divest its 89% holding in US-based Deutsch, which it first acquired in June 2006, for €1.5 billion, Wendel said in a statement. The net proceeds will amount to €954 million.

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