Bernard Arnault

French investigators intend to question LVMH chief Bernard Arnault over the disappearance of six million Hermes shares valued at eight billion euros. The probe stems from a complaint by heir Nicolas Puech regarding his former wealth manager.

A newly revealed 2002 document shows LVMH signed an agreement to buy Hermès shares from heir Nicolas Puech's wealth manager, intersecting with a multi-billion-dollar legal dispute over missing shares.

L'Oreal has overtaken LVMH as France's most valuable company, marking a historic shift driven by consumer trends and a broader three-year slowdown in the global luxury sector.