2Jour Gazette | Special Edition (13): LVMH 2025 Annual General Meeting. What Else Was Said (and Meant), Apart From Confirming Jonathan Anderson in Dior Men.
- Marina 2Jour
- 6 minutes ago
- 22 min read
The LVMH Annual General Meeting took place on April 17, 2025. Apart from the pretty much expected approval of bylaw changes, which open the way for Bernard Arnault, the long-standing leader of the group, to stay at the helm of LVMH until he is 85—9 more years—the other most talked-about theme was the confirmation of the widely circulating rumor about Jonathan Anderson, ex-creative director of Loewe, moving to Dior. With nuances, though.
I listened to the webcast (oh, twice), watched it carefully to catch the emotions behind the words (a widely ignored aspect), reviewed the documents related to the meeting published on the official LVMH website, and analyzed all the things I heard (and saw) at the meeting.
This article brings together not only the key points raised during the Annual General Meeting—but also dives into the nuance behind the carefully worded statements, the tone of delivery, and even the body language on stage. From Bernard Arnault’s vision for LVMH’s future and the Group’s shifting focus toward high-end clientele, to PR breakdowns of how LVMH handled tough questions—from the Dior labor scandal to U.S. tariffs, succession planning, and creative leadership at Dior—this is a detailed look at both what was said and how it was said.
Enjoy! x
CONTENTS
Executive summary (exclusively for Executive and CEO plan subscribers).
LVMH 2025 ANNUAL GENERAL MEETING STRUCTURE
1. Opening remarks (by CEO Bernard Arnault).
2. Financial performance presentation (by CFO Cécile Cabanis).
3. Performance overview (by CEO Bernard Arnault).
3.1. Group's achievements in 2024.
3.2. Strategic insights.
3.3. Overview by sector: Fashion and Leather Goods, Cosmetics, Wines and Spirits, Jewelry and Watches, Selective Retailing.
4. Human resources report (by Head of HR Maud Alvarez-Pereyre).
4.1. Employee initiatives.
4.2. Training programs.
4.3. Diversity and inclusion efforts.
5. Environment & sustainability presentation (by Antoine Arnault, LVMH Image & Environment).
5.1. Sustainability strategy.
5.2. Carbon reduction efforts.
5.3. Biodiversity initiatives.
6. Auditors' Report
6.1. Financial statement certification.
6.2. Review of company accounts.
7. Q&A Session: Written and live shareholder questions with responses from leadership team.
8. Voting on Resolutions.
8.1. Financial approvals.
8.2. Director appointments.
8.3. Compensation policies.
8.4. Bylaw amendments.
Because the meeting focused on the 2024 results, it was largely based on the LVMH 2024 Annual Results Report, which I previously analyzed here. Another document that was mentioned a couple of times in the meeting materials was the LVMH 2024 Universal Registration Document. It’s a substantial piece—almost 500 pages—which I browsed through. It definitely gives a more complete picture of the policies, plans, and actions taken in the context of the stated goals. That said, when it comes to individual brands, the information is still as vague as ever. My intention to create a piece on e-commerce practices based on this document (similar to the article on Essilor-Luxottica) remained just that—an intention—since the descriptions are limited to general wording.
General wording was used in the presentations by CFO Cécile Cabanis, Head of HR Maud Alvarez-Pereyre, and Antoine Arnault, Head of LVMH Image & Environment—either echoing what was said during the FY2024 presentation or mentioned in the URD. That’s why we won’t go over these parts.
TONE GRANDEUR: PERFORMANCE OVERVIEW BY BERNARD ARNAULT
Instead, let's start with Bernard Arnault’s speech. Of course, he went over a planned agenda while giving a performance overview. What makes it different is that he, as the leader of the group, sets the tone.