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LVMH chairman and CEO Bernard Arnault has received the John B. Fairchild Award in recognition of his contribution to the fashion industry. At the ceremony in New York, the billionaire delivered an 11-minute speech in which he looked back on industry crises, colourful nicknames and the people who helped shape global fashion, with his trademark self-deprecating humour and understated wit, WWD reports.

Arnault admitted that New York holds a special place in his life: his older children grew up nearby, in New Rochelle, while his younger ones feel at home in the city. He also praised New York’s energy and ambition, noting that “every minute counts” there.

The LVMH chief paid tribute to Charles Lewis Tiffany, founder of Tiffany & Co., describing him as a true American entrepreneur who successfully combined European traditions with American innovation. Arnault singled out Tiffany’s legendary Blue Book collection and the new standards of jewellery craftsmanship it helped establish.

He also turned his attention to John B. Fairchild, the legendary publisher and editor of WWD, after whom the award is named. In 1991, Fairchild described Arnault as “almost American”. “I almost took it as a compliment,” the billionaire joked.

According to Arnault, Fairchild was one of the fashion world’s original rebels. He transformed a small family publication into one of the industry’s most influential — and even feared — media outlets. WWD coverage could turn a designer into a star or leave them absent from its pages for years. “If the article was about you, you hated it. If it was about someone else, you enjoyed reading it,” Arnault remarked.

He also pointed to the military language that has become deeply embedded in the fashion business. The media speak of brands launching “offensives”, while shoppers are labelled “fashion victims” — an expression Arnault credited Fairchild with helping to popularise.

Reflecting on the industry's turbulent history, the billionaire noted that talk of a luxury crisis has been going on for decades. Designers first had to contend with sewing machines, followed by oil and financial crises, the dot-com crash, the mortgage crisis and the COVID-19 pandemic. When Arnault took the helm of LVMH in 1989, he was already being told that the golden age of luxury was over.

“The future belongs not to those who talk about crises, but to those who know how to adapt to them and continue creating things that people will love for decades,” he said.

Arnault also took a humorous approach to his own controversial reputation. His aggressive acquisitions and ambitious expansion strategy have earned him nicknames such as “The Terminator”, “The Wolf in Cashmere” and “The King of Luxury”. He himself, however, prefers to speak not of luxury, but of “products of the highest quality”.

The title “Emperor of Fashion” is also not to his liking. “As you know, in France, our kings did not always end well. Things were not much better for emperors. So I have learned to be careful with such titles. There is, however, one title I have so far managed to avoid. That is dictator,” the billionaire quipped.

In this context, he recalled Christian Dior, whose influence on fashion was so profound that Time magazine used the word “dictator” in a 1957 headline about the designer. Arnault described Dior as a man who conquered the world through his creative genius, vision and determination to bring about revolutionary change.

He also emphasised the role of American women in the rise of French haute couture. Long before social media existed, he said, they were among the first influential clients and a kind of early influencers, helping French fashion gain widespread recognition in the United States and beyond.

Concluding his speech, Arnault paid tribute to the remarkable figures whose achievements laid the foundations of today's industry, quoting Isaac Newton: “If I have seen further, it is by standing on the shoulders of giants.”

“We are all standing on the shoulders of giants,” the LVMH chief concluded.

Introducing the award, James Fallon, chief content officer of WWD and Fairchild Media Group, described Arnault as a Renaissance man equally comfortable discussing the works of Chopin and Gerhard Richter as he is analysing business figures. Fallon also recalled one of the billionaire’s favourite sayings: “If you feed creativity, profits will come.”

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