Nike Announces LVMH Heir Alexandre Arnault is Joining its Board of Directors
PublishedQuick Facts
- Nike is shaking things up at the highest level, appointing luxury scion and current LVMH board member Alexandre Arnault as the newest member of Nike’s board of directors
- Arnault currently works as the Deputy CEO of Moët Hennessy, LVMH's wines and spirits division, with his new role at Nike taking him out of the luxury space for the first time
- Will Arnault’s presence be the move that helps tip Nike’s profit scales back in a positive direction?
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Nike has been in the business press a lot lately, and not for the right reasons. The brand is struggling on the stock exchange, and rumors have been steadily swirling about potentially dropping Converse altogether. Now, Nike is shaking things up at the highest level, appointing luxury scion and current LVMH board member Alexandre Arnault as the newest member of Nike’s board of directors.
The Nepo King Joins Nike
Arnault, the son of Bernard Arnault, the chairman and CEO of LVMH, might be familiar to sneakerheads from a 2023 viral photo of the then-Tiffany & Co. executive debuting the Tiffany x Nike Air Force 1 courtside at a Knicks game. Let’s just say the photo didn’t go viral because he made the shoes look cool. Arnault currently works as the Deputy CEO of Moët Hennessy, LVMH's wines and spirits division, with his new role at Nike taking him out of the luxury space for the first time.
"Alexandre understands how some of the world's most influential brands stay relevant, deepen consumer connections and drive long-term growth," said Elliott Hill, President & CEO, NIKE, Inc. "His experience across innovation, digital transformation and brand building will be an asset as we continue to strengthen our connection with consumers, sharpen our competitive edge and accelerate NIKE's next chapter of growth around the world."
“I’ve been a Nike fan for as long as I can remember. Sport, competition, innovation, creativity, pushing yourself further every day; so much of what this brand stands for has always resonated with me,” Arnault wrote on Instagram. “Nike has been with me for many kilometres (and all my marathons!) along the way, so having the opportunity to contribute to its future feels particularly special. Excited to get started and contribute to what comes next.”
Arnault’s Addition
Will Arnault’s presence be the move that helps tip Nike’s profit scales back in a positive direction? Can the heir of the LVMH luxury fortune relate to the average Nike consumer? Only time will tell, so stick around and find out with the rest of us.
Zach Harris is a writer based in Philadelphia. His work has appeared in Rolling Stone, Vice, Complex, High Times, and more. He is obsessed with skateboarding and bowling. He is still looking for his first 300. For tips, reviews, and anything in size 10.5 - zach.h@soleretriever.com
