Dies Alain Chevalier, one of the founders of the conglomerate of French luxury LVMH

Alain Chevalier, one of the founders of the world's leading company in luxury products LVMH (Louis Vuitton Moet Hennessy), has passed away at 87 years of age,

Dies Alain Chevalier, one of the founders of the conglomerate of French luxury LVMH

Alain Chevalier, one of the founders of the world's leading company in luxury products LVMH (Louis Vuitton Moet Hennessy), has passed away at 87 years of age, announced on Sunday, the Elysee palace, in a press release in which it called Chevalier of "visionary man".

"Put her intelligence and talent at the service of politics and the industry, contributing with his vision and determination, to install to France in first place in the field of luxury goods," said the president of the Republic, without specifying the date of the death of Chevalier.

The businessman, a "foot black of Algeria, remained faithful to the end to the memory of his native land," the statement added.

Trained at the National School of Administration, ENA, nursery of the elite French, Chevalier was first auditor of the Court of Accounts, and he occupied several ministerial positions, before embarking in the private company.

In 1970, he took charge of Moët et Chandon, then main tag of French champagne. Based mergers and acquisitions, grew the group to direct it into the luxury industry.

In 1987, merged with Louis Vuitton to avoid a TAKEOVER bid for its industrial conglomerate. But without the actions within the group, Chevalier was unable to counteract the rise of Bernard Arnault, who gradually became the main shareholder, which resulted in his departure.

The companies of Moët Hennessy and Louis Vuitton, "accumulated some of the most prestigious brands of wines & spirits, fashion, perfumes and cosmetics, they are wonderful ambassadors of elegance, quality and refinement, French," adds the note of the Elysee palace.

The statement notes that Chevalier "was first and foremost a man of culture and freedom, faithful not to a man nor to a party, but to what he believed right and true".

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Updated Date: 06 November 2018, 08:00

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