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STORY: The family behind the world's largest luxury group, LVMH, is tightening its grip on its empire. Antione Arnault, the oldest son of LVMH chairman Bernard Arnault, was on Friday named chief executive of the family’s holding company Christian Dior SE. Christian Dior owns the bulk of the Arnault family's stake in LVMH. The younger Arnault is replacing LVMH veteran Sidney Toledano and stirring speculation about broader succession.

He's one of Arnault's five children, all of whom hold senior positions in LVMH, the group behind fashion houses Louis Vuitton and Christian Dior, as well as labels from champagne to five-star hotels.

Arnault, who is married to Russian supermodel Natalia Vodianova, oversaw LVMH’s communications and environmental issues. For a decade, he headed high-end label Berluti, known for expensive buffed leather shoes and bespoke tailoring for men.

His father Bernard has not publicly named a successor. According to Forbes, Bernard Arnault briefly took over the title of the world’s richest man earlier this year, edging out Elon Musk, before slipping back to the number two spot. It was the first time a person outside tech landed at the top spot in nine years.