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Bernard Arnault’s Bergdorf Envy

Conversations between LVMH and Neiman Marcus Group may be heating up again as the French billionaire plots his conquest of Fifth Avenue. But can the Goodman family give Arnault what he actually wants?

Bernard Arnault’s interest in multi-brand retail—what we used to just call department stores—dates back at least to his acquisition of Paris’s Le Bon Marché.
Bernard Arnault’s interest in multi-brand retail—what we used to just call department stores—dates back at least to his acquisition of Paris’s Le Bon Marché. Photo: Lexie Moreland/Getty Images
Lauren Sherman
August 7, 2023

In the days surrounding the grand reopening of Tiffany’s flagship in New York, last May, Fifth Avenue was practically crawling with LVMH executives. After all, it’s common practice for retailers to shop the competition, and their own stores, when in town. So it wasn’t surprising to hear that LVMH paid multiple visits that week to Bergdorf Goodman, the historic luxury department store.