Antoine Arnault is the eldest son of billionaire Bernard Arnault, chairman and CEO of LVMH. The move has raised Antoine’s profile as Arnault’s five children all hold senior positions at LVMH.

According to Reuters, Antoine’s appointment follows a change in the legal structure of the Arnault family investment to secure control of LVMH. In addition to his new role at Christian Dior SE and the continuation of his leadership position at Berluti, Antoine will also remain President of Loro Piana.

The tightening of the family’s control over their empire also comes amid a wave of searches for heirs for other fashion conglomerates in Europe. Earlier this week, Italian fashion group Prada appointed former Luxottica director Andrea Guerra as CEO as part of a strategy to ease the handover of power to the next generation of the founding family. At Inditex, Zara’s owner Marta Ortega, the youngest daughter of founder Amancio Ortega, became the group’s president in July.

Antoine has been appointed to replace 71-year-old Sidney Toledano, who has served as president of LVMH fashion group and former director of high fashion brand Christian Dior. In the meantime, Mr. Pietro Beccari remains President and CEO of Christian Dior Couture. Christian Dior added in a statement: “This decision was taken in connection with the conversion of Agache SE into a partnership limited by shares and will allow the family to retain long-term control of Christian Dior SE and LVMH Moët Hennessy – Louis Vuitton SE “.

The news follows LVMH’s reported sales growth of 31% to £24.4 billion (€27.8 billion) this year, thanks to sales at Louis Vuitton, Dior, Celine and Loewe.

Commenting on the departure of Toledano’s CEO, billionaire Bernard Arnault said: “We sincerely thank Sidney Toledano for the utmost professionalism he has always shown in taking on this trusting task.” Toledano is also President of the French fashion school IFM and was recently appointed President of the Chambre Syndicale de la Haute Couture, also known as France’s renowned couture title management body.

Christian Dior is not only one of the best fashion brands in the world, but also known for its creativity and proven quality. “The company has grown quarterly for the past 20 years,” said Sidney Toledano. Art and commerce have accompanied Dior for many years now, of course through ups and downs and difficulties. Designers can fret over commercial demands, while executives are fed up with designers not understanding the rigors of competition.

During his time at the helm of the “Dior boat”, Mr. Toledano always kept in mind that the relationship between business and creativity in fashion is not a quantitative one. “It’s more like a dance,” said former CEO Toledano. According to him, both sides must share a common vision. “You have to make sure that the sales director and the creative director have the same goals as the company mission. If the designer wants to maintain a narrow market group, but the entrepreneur wants to expand the customer base, then your company has a problem.”

The LVMH Group owns around 70 fashion and cosmetics brands, including Sephora, Tiffany & Co, Givenchy, Christian Dior, Dom Perignon and Moët Hennessy, and is valued at 358 billion euros ($376 billion). As of now, LVMH CEO billionaire Bernard Arnault has not yet made a precise decision on who will inherit his position.

Mr. Bernard Arnault will be 73 this year. But he was still very clear and determined. Capital, he plans to retire at the age of 75. However, at the forthcoming shareholders’ meeting, LVMH Group will propose raising the age limit for the position of Chief Executive Officer (CEO) to 80 years. If the proposal is accepted, Mr Bernard Arnault will be able to live until the age of 80.

According to luxury investors, “Crown Prince” Antoine Arnault is likely to gain high levels of shareholder confidence as he takes on the next senior position. The 44-year-old holds many key positions at the LVMH Group, including: Chairman of the Brand Board Loro Piana, CEO of Berluti and Chief Image Officer of LMVH. In the last position he is responsible for all activities to maximize the strength of the brands within the group. Additionally, Antoine Arnault is best known as the character who successfully helped Berluti transform from a luxurious but old leather shoe brand into an elegant menswear brand.

However, it is not certain that Antoine Arnault’s sister and brother are also capable of leadership. The Arnault family’s eldest sisters, Delphine Arnault, 47, and Antoine Arnault, 45, both sit on the group’s board of directors. Next is Alexandre Arnault, 30, chief executive officer of Tiffany & Co. while Frederic Arnault, 27, is chief executive officer of TAG Heuer. The youngest member is Jean Arnault (23), who currently heads up marketing and development for Louis Vuitton’s watch division.

Just a few days ago, billionaire Elon Musk had to give up the top spot on the Forbes list of billionaires to Bernard Arnault. The net worth of the world’s two richest men continues to vary, but Forbes estimates that Arnault was worth $185.8 billion as of December 7, compared to Musk’s $185.7 billion.