Family offices · France
Bernard Arnault's Family Office: Agache Explained
Agache, formerly Groupe Arnault, is the principal investment vehicle of Bernard Arnault and the main holding company of the Arnault family group. Through its subsidiary Financière Agache and the listed Christian Dior SE, the family group held 50.33% of LVMH's capital and 66.27% of its voting rights in September 2026. Agache also backs the tech investor Aglaé Ventures. [1, 2, 3]
At a glance
| Family | Arnault family |
|---|---|
| Founded | Not found |
| Headquarters | Paris, France |
| Run by | Bernard Arnault, general partner; Aymeric Le Clere, chairman and CEO of Financière Agache (August 2026) |
| Size | No total published; the family group holds 50.33% of LVMH (September 2026) |
| Structure | Family holding company, a partnership limited by shares (SCA) since 2022 |
| Known for | Control of LVMH and Christian Dior SE; Aglaé Ventures tech fund |
How did Agache start?
Agache was previously called Groupe Arnault, as its tech fund Aglaé Ventures states. In 2022 the Arnault family converted Agache into a société en commandite par actions (SCA), a partnership limited by shares, according to Christian Dior SE. On 23 September 2026, Christian Dior SE announced a plan to fold the chain into one listed company: Financière Agache merges into Agache, then Agache merges into Christian Dior, which would become an SCA named Agache. The release gives the aim as ensuring 'the continuity of its control over LVMH'. [1, 3]
Who runs Agache?
Bernard Arnault and Agache Commandité SAS are Agache's general partners, according to a February 2026 AMF filing, and under the September 2026 plan Bernard Arnault would be the managing partner of the merged Agache SCA. At the subsidiary Financière Agache, Aymeric Le Clere, a former Natixis banker who is also chief financial officer of Christian Dior, became chairman and CEO on 4 August 2026, succeeding Florian Ollivier, according to Bloomberg, citing a company filing. Frédéric Arnault, one of Bernard Arnault's sons, was named managing director of Financière Agache in June 2024, according to Reuters, and Bloomberg said in August 2026 that he still held that role and sat on its board. [2, 3, 4, 5]
Reported by the sources named, not confirmed by an official source.
How big is Agache?
Agache does not publish a total asset figure. Its main asset is the family group's stake in LVMH: 50.33% of the capital and 66.27% of the voting rights, according to Christian Dior SE's release of 23 September 2026. The group had crossed 50% of LVMH's capital on 19 February 2026, according to an AMF filing. [2, 3]
What does Agache invest in?
Agache's core holding is LVMH, held mainly through Financière Agache and Christian Dior SE. Its tech arm, Aglaé Ventures, is headquartered in Paris with offices in New York and San Francisco and invests from $100,000 to $100 million, from seed to pre-IPO; it says the group has backed Netflix, Betfair, Airbnb, Slack and Spotify. Fortune reported in August 2024 that Aglaé had made over 150 investments in seven years, including 2024 rounds for the AI start-ups H Company and Borderless AI. Bloomberg reported in August 2026 that Financière Agache had been used about two years earlier to invest in the Paris FC football club. [1, 4, 6]
Reported by the sources named, not confirmed by an official source.
How is Agache set up and regulated?
Agache is a société en commandite par actions (SCA) controlled by Agache Commandité SAS; its general partners are Bernard Arnault and Agache Commandité SAS. It controls Financière Agache, a société anonyme, which controls Christian Dior SE, a company listed on Euronext Paris. On 19 February 2026 Christian Dior held 42.21% of LVMH's capital, Financière Agache 6.73%, Agache 0.50% and members of the Arnault family 0.57%, according to an AMF filing. [2, 3]
What changed in 2025 and 2026?
On 19 February 2026 the Arnault family group crossed 50% of LVMH's capital through share purchases, according to an AMF filing. On 4 August 2026 Aymeric Le Clere became chairman and CEO of Financière Agache, according to Bloomberg. On 23 September 2026 Christian Dior SE announced the plan to merge the holdings into a listed SCA named Agache, with extraordinary general meetings planned for December 2026 and a cash tender offer for the 2.44% of Dior held by outside shareholders expected in the first quarter of 2027. [2, 3, 4]
Reported by the sources named, not confirmed by an official source.
