THE WHAT? Bernard Arnault, the billionaire founder of LVMH, has acquired shares in Richemont, the Swiss luxury conglomerate known for its high-end jeweller Cartier.

THE DETAILS  Arnault’s stake in Richemont is a personal investment and too small to be disclosed in public registers. This holding is among many stocks owned by Arnault’s family and does not indicate any immediate strategic move on Richemont.

THE WHY? This move follows Arnault’s history of strategic acquisitions, such as Tiffany’s US$15.8 billion purchase in 2021.