Bernard Arnault received WWD’s John B. Fairchild Honor for lifetime achievement at the WWD Apparel and Retail CEO Summit in New York. In an 11-minute speech, the LVMH chairman and chief executive blended humor with reflections on the fashion industry’s history, its recurring crises and the importance of adapting through creativity.

Arnault described New York as a city with which he has a “special connection,” recalling that his older children grew up in nearby New Rochelle. He also praised the city’s energy and its drive to move forward, and credited Tiffany & Co. founder Charles Lewis Tiffany with combining European heritage and American innovation in jewelry. LVMH acquired Tiffany & Co. in 2021.

Much of the speech focused on John B. Fairchild, the former WWD publisher and editor whose name is attached to the award. Arnault recalled Fairchild’s influence on fashion coverage, saying he understood that the industry was about people as well as clothes. He also joked about the power of WWD’s coverage and the warlike language often used to describe fashion.

Arnault highlighted the challenges that have repeatedly tested the luxury sector, citing the oil and financial crises, the dot-com crash, the subprime crisis and the pandemic. He said each generation has reason to worry about the future, but that the industry continues to find ways forward. In his view, success depends on adapting to crises and creating products people will value for decades.

He also addressed the nicknames associated with his reputation for acquisitions, including “Terminator,” “Wolf in Cashmere” and “King of Luxury.” Arnault said he prefers to describe LVMH’s work in terms of “high-quality products” rather than luxury, and joked that he was wary of grand titles such as “Emperor of Fashion.”

The speech turned to Christian Dior, whose influence Arnault attributed to creative vision and a willingness to revolutionize fashion. He noted that Dior’s New Look initially met protests in the United States, while arguing that the designer created clothes women would love over time. Arnault also praised American women for helping bring French fashion to a wider audience, describing them as early influential clients.

Arnault shared the honor with people contributing to the industry’s future and paid tribute to figures including Dior, Fairchild and Hubert de Givenchy. He closed with Isaac Newton’s words about standing on the shoulders of giants, applying the idea to the people whose work shaped fashion.

James Fallon, WWD and Fairchild Media Group’s chief content officer, presented the award. He praised Arnault’s willingness to take risks and his focus on creativity, recalling Arnault’s belief that nurturing creativity ultimately brings profits.

Sources: WWD.