Pandemic Payoff
Bernard Arnault, the CEO of the LVMH group, which has brands like Louie Vitton and other high-end fashions under their umbrella, has done something on Monday and today also the business universe didn’t see coming, and the fashion industry apparently are crowning over, Bernard according to Forbes is now the richest person in the world, unseating Amazon founder, Jeff Bazos, who’s now number 2 rich individual, just by a mere $300 million, and it’s all thanks to the COVID19 pandemic.
Though, occasional fashions like dresses, blouses, accessories, and handbags took a backseat to being the top fashions consumers buy thanks to consumers in quarantine to stop the spread of COVID19, comforts by in large are what kept fashion houses like Louie Vitton and LVMH brands afloat in a very huge way throughout this pandemic, at every price point possible.
If Jeff Bazos has his way today or soon after with a possible deal for Amazon to buy MGM, Jeff Bazos one year from now could claim his top spot as Forbes’s Richest Person In The World.