We tell the full history of LVMH, and how Bernard Arnault turned a $15m investment in a bankrupt French textile company into the world’s largest individual fortune. It’s a story that’s equal parts Berkshire Hathaway, Steve Jobs and Barbarians at the Gate… and wholly under-appreciated for the genius business model innovations that enabled it. Whatever industry you operate or invest in, there’s so much to be learned from Bernard and LVMH’s complete reshaping of the luxury sector over the past three and a half decades. And oh yeah, it also involves Nazi spies, Italian family murders, Rupert Murdoch, Rihanna becoming a billionaire, Jay-Z’s champagne feuds and Beyoncé wearing a 128 carat diamond. Tune in. :) Sponsors: Thanks to our fantastic partners, any member of the Acquired community can now get: Pilot: 20% off your company’s first six months of service Vanta: $1,000 off any compliance audit product RevenueCat: In-App Subscriptions Made Easy Links: Bryan Burrough in Vanity Fair: Gucci and Goliath Episode sources Carve Outs: The Gamecraft Podcast Doug DeMuro buys a Carrera GT The Peloton Tread The Eureka Theory of History Is Wrong