The Arnault family is restructuring its ownership chain to tighten long-term control over LVMH, the world's largest luxury group. The plan would merge two holding layers into Christian Dior SE, centralising 49.76% of LVMH shareholding and 65.55% of voting rights into a single entity to be renamed Agache. Christian Dior SE shareholders are expected to vote on the restructuring by year-end, with a tender for the remaining 2.44% minority shares, worth 1.63 billion euros, set for Q1 2027 pending regulatory approval.

The Agache SCA structure aims to solidify Arnault family control, further complicating any external attempts to disrupt governance. The reorganisation marks Bernard Arnault's most significant move to strengthen his family's grip on the 194 billion euro luxury empire since 2022. The new structure would make it extremely difficult for shareholders to wrest control or push for a break-up.

All five of Arnault's children hold operational roles within the group, while succession planning draws increasing attention from investors.