Arnault transfers champagne boss to run family football club

Bernard Arnault’s family is installing LVMH Moët Hennessy Louis Vuitton SE executives to lead recently-acquired Paris FC, a sign the luxury billionaire is intent on reviving the commercial fortunes of the club. 

Jean-Marc Gallot, up until now head of LVMH’s Champagne brand Veuve Clicquot, will now head up Paris FC, according to a joint statement from the club and the Arnault family investment vehicle Agache.

The club’s new CFO, Alexandre Battut, is coming from another LVMH label, the fragrance maker Maison Francis Kurkdjian. Battut will join Paris FC in early November, the statement added. The executive previously spent three years at rival Paris Saint-Germain football club.

Last year, the Arnaults unveiled plans to buy the lesser-known football club, with an initial stake of 52% that could increase to 80% in 2027.

The family’s foray into football took observers by surprise as the Arnault clan is normally associated with exclusive and high-end investments. Separately, the luxury conglomerate controlled by billionaire Bernard Arnault has bet big on sport sponsorship, especially with Formula 1.

Paris FC, founded in 1972, managed in May to be promoted to France’s Ligue 1. This marked their return to the top league after an absence of more than four decades.

The family’s plan is to make Paris FC profitable and “not to waste money”, said Antoine Arnault in a previous interview with Bloomberg News, adding that football is a “difficult” business to be in.

Literally across the road from Paris FC’s stadium is the home ground of super-club Paris Saint Germain. The Qatar-owned team won their first ever UEFA Champions League in May, defeating Inter-Milan 5-0 in the final.

Gallot’s appointment is subject to approval at the next board of directors meeting of the Paris FC set to take place in the next few days, the statement added. Thomas Mulliez will replace Gallot as president and CEO of Veuve Clicquot, LVMH said in another statement.