Family business head eyes up '350 million stores

By Attracta Mooney

When you’re the head of a luxury conglomerate like LVMH, there’s a certain upmarket reputation to uphold. So it’s of little wonder that chief executive Bernard Arnault is reportedly in talks to buy property on London’s exclusive Bond Street.

The family business is looking at a trio of shops on the street, including its flagshop Louis Vuitton store at 17-20 Bond Street, according to reports.

Ireland’s state-owned National Asset Management Agency is selling the three properties, which it seized control of from developer David Daly after he failed to meet a debt repayment deadline.

And although they carry a hefty €350 million price tag, Arnault, France’s richest man, shouldn’t struggle to much to come up with the cash – he’s worth $41 billion (€30.7 billion), according to Forbes.  

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