Henry Racamier

Last updated
Henry Racamier
Born
Henri Serge Racamier

(1912-06-12)June 12, 1912
Pont-de-Roide, France
DiedApril 1, 2003(2003-04-01) (aged 90)
Italy
Occupation(s)Industrialist, businessman
Years active1936-1990
Known forCo-founding LVMH
SpouseOdile Vuitton
Children2

Henri Serge Racamier (January 25, 1912 - March 29, 2003) was a French industrialist and businessman. He was primarily known for co-founding the luxury conglomerate LVMH and turning Louis Vuitton into an internationally recognized brand with billions of dollars in sales. [1]

Contents

Life

Racamier was born in Pont-de-Roide-Vermondans in the Franche-Comte region of France. His youngest brother was psychiatrist and psychoanalyst Paul-Claude Racamier. He was the son of an industrialist. After acquiring a business degree in Paris, he started his career in the steel industry as he began to work for the Peugeot automotive factories in 1936. In 1946, he founded his own company, Stinox, which he sold to Thyssen in 1977. With the assets gained through the sale, he took-over the reigns at Louis Vuitton the same year.

He began to change the business model substantially, and turned the then small leather goods shops, into an international network of company operated shops worldwide to sell the merchandise. In order to make the brand notable on an international scale, he started to sponsor top-of-the-range sporting events and created a new marketing strategy which would lead the brand to the top and be well known worldwide. In 1984, he took Louis Vuitton public at the stock exchange. In 1987, he merged Moet Hennessy and Louis Vuitton creating LVMH. Between 1987-90 he and Alain Chevalier, the other co-founder of the luxury group conducted an open war against Bernard Arnault who was taking over power; Arnault was successful and ejected Racamier from the company board by 1990. [2] [3]

After being forced out of LVMH, Racamier, used a family holding company Orcofi, to join the French banking group Paribas and L'Oréal in order to take part in a M&A deal and acquire the fashion house Lanvin. It was thought by branch insiders that he would form another competitor to LVMH, instead he turned to sailing and music. He was a major patron and philanthropist to the Opéra National de Paris.

Racamier was also a noted sponsor of international sailing competitions and in 2019 was posthumously inducted into the America's Cup Hall of Fame. [4] [5]

Family

In 1943, he married Odile Madeleine Andrée (née Vuitton; 1921-2019), [6] a great-granddaughter of the company founder Louis Vuitton. They had two daughters [7]

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References

  1. ↑ Tagliabue, John (April 1, 2003). "Henry Racamier Dies at 90; Revitalized Louis Vuitton" – via NYTimes.com.
  2. ↑ "Disparition d'Henry Racamier, l'un des fondateurs de LVMH". Les Echos. April 1, 2003.
  3. ↑ "Henry Racamier". April 10, 2003 – via The Economist.
  4. ↑ Guthrie, Julian (July 6, 2013). "How the Louis Vuitton Cup changed the sport". SFGATE.
  5. ↑ "America's Cup Hall of Fame selects 2019 Inductees >> Scuttlebutt Sailing News". Scuttlebutt Sailing News. July 14, 2019.
  6. ↑ "Death Odile Madeleine Andrée Racamier". openarchives.nl (sourced from French National Institute of Statistics and Economic Studies INSEE). Retrieved 2022-12-11.{{cite web}}: CS1 maint: url-status (link)
  7. ↑ Tagliabue, John (2003-04-01). "Henry Racamier Dies at 90". Archive of the New York Times. Retrieved 2022-12-11.{{cite web}}: CS1 maint: url-status (link)


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