Marc The Masterpiece

That LVMH chairman and chief executive officer Bernard Arnault is a man who makes good decisions is undoubtable, but the comparison he has drawn to explain how he chooses his head designers will put it into context for many.

"When you choose a designer, it's an investment for the long term. It's the same with artwork. When I buy a piece of art, I think to myself, I will live with this work of art for decades," he said. "Today, young designers live in a world that is changing rapidly, where communication is instantaneous. What interests me is taking the long-term perspective."

Arnault & Jacobs

One masterpiece in particular made an especially profitable investment.

"Take the example of Marc Jacobs. When we bought the company in partnership with Marc, it was doing maybe $20 million in 1998. Today, we do more than $1 billion, so it's long term," he toldWWD. "I saw the potential with Marc, a great, great designer, and now we are working with him towards in the next two years hopefully, if the market allows, an IPO.