The Arnault family, which controls the French luxury giant LVMH, is streamlining its corporate structure to ensure continued influence over the company. According to a proposal submitted to the board of Christian Dior, the family plans to consolidate its holdings in a way that will allow it to maintain control of LVMH through a single entity. In the long term, the family’s control would be exercised through a company holding a direct stake of 49.76% of LVMH’s capital and 65.55% of its voting rights, granting it significant influence over major decisions. Currently, the structure is more complex. The Arnault family holds Agache, which owns Financière Agache. This entity, in turn, controls Christian Dior, which is the main shareholder of LVMH. In addition, the family holds direct stakes in LVMH through other entities. The new plan involves merging Financière Agache into Agache, and then merging Agache into Christian Dior. Afterward, Christian Dior would be transformed into a limited partnership and renamed Agache. This would result in a single, publicly listed company that holds the majority of the family's stake in LVMH. A limited partnership is a specific legal structure that allows for a clear separation between ownership and control, making it an effective tool for family groups seeking to preserve their influence over time. Under the new structure, Bernard Arnault would remain the manager and a limited partner of the new Agache, alongside Agache Limited Partner. This reorganization is designed to ensure the family's continued control of LVMH beyond Bernard Arnault’s tenure, though it does not address the issue of his eventual succession in the company’s day-to-day operations. As part of the reorganization, a public tender offer would be launched for the approximately 2.5% of Christian Dior shares still owned by minority shareholders. However, this is not a mandatory buyout—minority shareholders can choose to sell their shares or retain them in the new Agache, which will remain publicly listed.