Alain Ernest Wertheimer (born 28 September 1948) is a French billionaire businessman, based in New York City. He took the perfume off the pharmacy shelf. So who are the reclusive brothers cashing in this huge paycheck? In addition, Alain Wertheimer oversaw the purchase of a number of non-Chanel trademarks, including Eres Lingerie and Beachwear, Tanner Krolle Saddles and Leather Goods, and British Gunsmith Holland & Holland. Similarly, he shuns the charity ball and Park Avenue dinner circuit.In addition, both brothers are enthusiastic equestrians who inherited and operate an important Thoroughbred horse racing stable which is known as Wertheimer et Frre partnership in France. He is the chairman and a controlling shareholder in Chanel, with his brother Grard who chairs its watch division. Jacques Wertheimer and Eliane Fischer, who were Jewish, gave birth to Alain Wertheimer on September 28, 1949, in Paris, France. In exchange for paying all of Coco Chanels bills and taxes for the rest of her life and funding the expansion of the haute couture division, the family took full control of Chanels fragrance and fashion operations in 1954. Alains grandfather was Pierre Wertheimer, a French industrialist, who, with his brother Paul, founded Les Parfums Chanel, which began making and distributing fashion designer Coco Chanel's No. In 1973, at 25 years old, Alain convinced the board of trustees to let him take over the company. This is how Chanel stands out in the luxury market. Before assuming ownership of Chanel in 1974, Alain Wertheimer had served as an intern at Mot & Chandon. Also in 2015, the brothers finished the renovation of Chateau Canon. Chanel, famous for its quilted purses, No. Brigitte is wife of Alain Wertheimer (b. Karl Lagerfeld, the public face of Chanel, died in February 2019 at the age of 85. Business Top editors give you the stories you want delivered right to your inbox each weekday. He has a country home in Connecticut. Photo by Owen Franken. Many of their horses have alsowon races at the French Derby and the Breeders' Cup Turf. Some of their highly-priced pieces are by Picasso, Matisse, Rousseau to name a few. Besides, Alain Wertheimer has presided over the acquisition of several non-Chanel brands, including Eres Lingerie and beachwear, Tanner Krolle saddles and leather goods, and Holland & Holland, a British gunsmith. Alain and Gerard Wertheimer, co-owners of luxury brand Chanel, are amongst the 10 richest people living in France. The first store was opened in 1909 Chanel in Paris. All were relisted in 1986. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. Numbers released last year, for the first time in 108 years, showed total sales for the 2017 calendar year were $9.62 billion. Their wealth, while largely inherited, has been grown through business deals. Alain Wertheimer moved his offices to New York, the United States in the late 1980s, reflecting Chanel's emphasis on the United States market. Were a very quiet family; we never talk, Gerard told the New York Times in 2002. Queen Elizabeth II presented the trophy to both Alain and Gerard Wertheimer after the race that bears her name in 2015. Liberation never wrote Alain Wertheimer had paid in cash the amount he owed to WES. They also own various vineyards across the world and racehorses. 5 de Chanel fell out of style in both fashion and fragrance by cutting the number of stores from 18,000 to 6,000. If not his business or his art, what else will Wertheimer discuss? Alain Wertheimer and his brother are largely tight-lipped, hardly ever speaking to the press or giving interviews about their wealth, companies, family, relationships, or hobbies. 5 perfume, along with his brother Gerard Wertheimer. He had been the company's creative director for over 35 years. On June 9, 2022, the valuation was updated to reflect 2021 results, resulting in a $20 billion increase. -> Created for Brigitte Wertheimer, Inspired by the clothes of her lovers and her desire to empower women, Chanel introduced its collections jersey, tweed, buttons and loops of uniform, cardigans, costume jewelry, pants for women and fashion of short hair. Alain Wertheimer moved his offices to New York, the United States in the late 1980s, reflecting Chanel's emphasis on the United States market. April 11, 2020. Alain Wertheimer and his brother Gerard Wertheimer (left) attend the Prix de Diane Longines at Hippodrome de Chantilly on June 12, 2011 in Chantilly, France. Alain resides with Brigitte in New York, NY. [5], The privately held company is run by Alain who has presided over the acquisition of several non-Chanel brands, including Eres Lingerie and beachwear, Tanner Krolle saddles and leather goods, and Holland & Holland, a British gunmaker. Second, Chanel is not very active on social media. This is how Chanel stands out in the luxury market. The upscale French fashion house has benefited from the incredible stock performance of Ulta Salon. Eliane Fischer was the daughter of a successful architect. Biography []. Alain Wertheimer's Net Worth In 2022 - $45 billion Personal Life Alain Wertheimer is known for leading a private life, preferring to avoid the media and rarely giving interviews to the press. A bag with the price reached 2,500 euros five years ago now costs 4500 euros. In 1917, Pierre took over the companys directorship and started operating it his own way. Although sales of high-end goods were hurt by the global recession of the early 1990s, demand began recovering in the mid-1990s and Chanel continued to expand its boutique chain and product line. After being Gallicized, he became French, and owned a house in Avenue de Neuilly near Bois de Boulogne. Gerard Moreno Biography, Age, Family, Brother, Wife, FIFA 22. The executive worked at Mot & Chandon before . Based in France, the Wertheimer brothers own French vineyards like Rauzan-Segla in Margaux, France and Chateau Canon in Saint-Emilion, both of which have won rave reviews from oenophiles. But I don't give interviews on Chanel because it is not useful for the Chanel business.''. His personal net worth has been estimated to be around $14.6 billion in March 2019. Wertheimer remained chairman of the company while Franoise Montenay, the company's CEO and president, was charged with bringing it into the next century.Currently, Alain Wertheimer is the chairman of the company and resides in New York, United States. Alain Wertheimer is a french businessman who serves as the chairman and the co-owner of the House of Chanel. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices I only live in the U.S., and this long. According to The Wall Street Journal, a "large but humble bamboo table greets guests in the entry hall" of the chateau, which also features modern furniture with shades of purple and pink, and down in the wine cellar, there are bottles dating back to the early 1800s. They also own a racehorse business in France and the United States, which is valued according to a thoroughbred horse consultant who asked not to be identified because the company is privately held. He was a Jewish by religion, and traced his roots back in medieval Germany. Alain Wertheimer (born September 28, 1948) is a French businessman based in France who, with his brother Gerard, own the controlling interest in the House of Chanel and also have an investment in Bell & Ross.. 5 perfume. In addition, Alain and Gerard Wertheimer's horse Solow won the Queen Elizabeth II Stakes Race run during the QIPCO British Champions Day at Ascot Racecourse on October 17, 2015 in Ascot, England; Queen Elizabeth II presented them the trophy. They are the third generation to run the nearly 110-year-old company. In order to meet the needs of middle-class consumers and expand to regions like Asia, Chanel created more affordable ranges. Alain Wertheimer was born on September 28, 1949, in Paris, France, to a Jewish family of Jacques Wertheimer and Eliane Fischer. The Wertheimer family didnt always own Chanel. src="" alt="" class="gallery-slider__content__img" height="", data-src="/web/show-photo.jpg?id=2535999&cache=false" The two brothers can. Alain Wertheimer (left) with brother Gerard Wertheimer (right) at the Prix de l'Arc de Triomphe at the Hippodrome de Longchamp in 2006. Additionally, both brothers run a significant Thoroughbred horse racing stable known in France as the Wertheimer et Frre partnership and in the United States as La Presle Farm for racing. [1][2] As of October 2022, Wertheimer's net worth was estimated at US$40 billion by Bloomberg Billionaires Index, making him the 26th richest person in the world. Alain Wertheimer is a French businessman and the co-owner of the controlling interest in the House of Chanel who has an estimated net worth of $27.4 billion as of July 2019. The majority of Wertheimer's fortune is derived from Chanel. She snored, Lagerfeld said in a 2007 documentary called Lagerfeld Confidential.. Aaron Quinn Biography, Age, Girlfriend, Instagram, Net Worth & Wiki, Susana Yabar Biography, Age, Yoga, Youtube, Instagram, Boyfriend, Net Worth & Wiki, Katherine Zhu Biography, Age, Height, Instagram, Boyfriend, Net Worth & Wiki, Najee Harris Biography, Age, Girlfriend, Stats, Instagram, Net Worth & Wiki, Stan Nze Biography, Age, Movies, Wife, Instagram, Net Worth & Wiki, Katy Breier Biography, Age, Movies, Boyfriend, Instagram, Net Worth & Wiki, Samantha Logan Biography, Age, Height, Movies, Instagram, Net Worth & Wiki, Preet Chandi Biography, Age, South Pole Expedition, Husband, Instagram, Net Worth & Wiki, Bhumika Gurungg Biography, Age, Instagram, Husband, TV Shows, Net Worth & Wiki, Julez Smith (Beyonces Nephew) Biography, Age, Girlfriend, Instagram, Net Worth & Wiki, Shooting, horse racing, fine wines, art collecting and skiing. I spoke to the Wine Spectator because that's PR, that's how you sell wine. Chanel's executive offices are only a short distance from Alain's home, on 57th Street. Gerard is the one who oversees the family's horse stock. In 2015, Solow, a Wertheimer horse, won the Queen Elizabeth II Stakes Race. The brothers are largely tight-lipped, hardly ever speaking to the press or giving interviews about their wealth, companies, family, relationships, or hobbies. src="" alt="" class="gallery-slider__content__img" height="", data-src="/web/show-photo.jpg?id=2535928&cache=false" Alain Wertheimer lives with his wife, Brigitte, and their three children in a grand apartment on Fifth Avenue. Born in 1949 in a Jewish family, he was born in the riches of his parents and grandparents. src="" alt="" class="gallery-slider__content__img" height="", data-src="/web/show-photo.jpg?id=2535785&cache=false" wlD> T3#~v=Q^zD+ O\sn [ !AU ^,qA,g0I1qv86L"U( F)U J\HJ$6SD7?;@]B2Gv6\2k]k@SZ_810H5YQzK|iM,1Xav<6V)sU4L2^Z`Xh1|@ KUc=/ I_ $iqv FEMALE AGE 54. He is steeped in money but doesn't hesitate to use his Metrocard to get around Manhattan. Alain Wertheimer is a billionaire French businessman based in New York City. Prabook is a registered trademark of World Biographical Encyclopedia, Inc. src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2535997&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536336&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536380&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2535928&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2535998&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536334&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2535999&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536337&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2535785&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536005&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536087&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536333&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", src="/web/img/loading.gif" data-src="/web/show-photo.jpg?id=2536335&cache=false" alt="Other photo of Alain Wertheimer" class="gallery__img" height="167", data-src="/web/show-photo.jpg?id=2535997&cache=false" The two reclusive brothers who own Chanel saw their net worth increase by $5 billion as the surging demand for luxury products during the pandemic boosted profits at the French fashion house. Alains great grandfather, Ernest Wertheimer, was born in 1852 and died in 1927. Their grandfather, Pierre Wertheimer, owner of the cosmetics and perfume company Bourjois, was a co-founder of the perfume division of Chanel. It is when he started earning and gained an estimated net worth of $14.6 billion recently. Petitioners became residents of the State of New York on October 1, 1986 and remained residents of this State for the period through and including December 31, 1986. View more. Alain Wertheimer and his brother Gerard Wertheimer (right). They live lavish lifestyles in private, surrounding themselves with those similarly closemouthed, and are known as fashion's quietest billionaires. Horses are the brand value of 'Wertheimer Frres'. Photo by Patrick Kovarik. According to Bloomberg, Alain Wertheimer has an estimated net worth of $14.6 billion as of March 2019. Meet the two reclusive brothers who each own half of Chanel. In 1983, the Wertheimer brothers appointed Karl Lagerfeld as the artistic director of Chanel's fashion division. He resides in New York, NY with his family. The Wertheimer brothers lead different. Email: Offers may be subject to change without notice. According to financials released by the company in June 2022, Chanel had net revenue of $15.6 billion in 2021. According to police investigations, these cash payments of 1 million since 1993 were then used to bribe officials. It is valued by averaging the enterprise value-to-sales and enterprise value-to-Ebitda multiples of five publicly traded peers: LOreal, Estee Lauder, Prada, LVMH, and Kering. The mission was entrusted to Maureen Chiquet, an American of 44 years passed through Gap and L'Oreal. With 468 billionaires, Europe claims 28% of the world's ten-figure fortunes adding up to an aggregate net worth of $1.95 trillion. The era Karl Lagerfeld took off in 1983 when he assumed the position of artistic director of Chanel Mode2. 5 perfume, along with his brother Gerard Wertheimer. Alain Wertheimer is more cynical of the two brothers. Ms Nair worked for the multinational consumer products corporation for 30 years, most recently serving as the executive committee member and head of human resources. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox. In a New York Times article from 2002, Alain told a reporter why he spoke with Wine Spectator and declined to comment for the paper: "I spoke to the Wine Spectator because that's PR, that's how you sell wine. Alain Wertheimer is a renowned business owner from France, who is currently the co-owner of the luxury brand House of Chanel along with his brother. The privately held company is run by Alain who has presided over the acquisition of several non-Chanel brands, including Eres Lingerie and beachwear, Tanner Krolle saddles and leather goods, and . That's good news for president Nicolas Sarkozy, who counts a number of these wealthy citizens as fans, even friends. Three years later, his younger brother Gerard was born. But after having two sons, they got divorced soon in 1952. The uneven split caused a rift between the founders, with Chanel accusing Wertheimer of exploiting her talents as a fashion designer and as a businesswoman. He turned French after being Gallicized and bought a home on Avenue de Neuilly, close to Bois de Boulogne. Lagerfeld would go on to revolutionize the iconic French fashion house for over 3 decades, saving it from a potential financial collapse, up until his death in February 2019. In addition to Napa Valley, California, Alain and his brother also own vineyards in France. The company is now owned by Alain Wertheimer and Gerard Wertheimer, France 8th fortune in 2010 with 4.5 billion euro 1, small-son of Coco Chanel partner Pierre Wertheimer. Although Alain co-owns all his assets with his brother Gerard, his own personal net worth has been estimated to be around $11.7 billion. Chanel Boutique in Beverly Hills, California, Coco Chanel took part in the revolution of high fashion by replacing the traditional corset with comfort and elegance of simple suits and dresses. Pierre Wertheimer was himself a successful French businessman. ---- Leena Nair, a former executive at Unilever, was announced as Chanels next global CEO on Tuesday. The brothers rarely make public appearances and never comment on Chanel. The House is renowned for its straightforward yet elegant, traditional, and contemporary style that combines items from the past with its powerful brand identification, such as tweed, and delicate touches, such as knotted bows and chains. Alain Wertheimer serves as the chairman of Chanel. Alain Wertheimer in New York. What first began as a hat shop soon grew to sell dresses, suits, and other clothes until 1922, when it branched out to making perfumes. . Jacques Wertheimer, who was born in 1911 and passed away in 1996, focused on the thoroughbred operations of horse racing, becoming the owner of one of the most prosperous stables in France. They hardly ever take interviews or speak publicly about France's most iconic fashion house, which they both helm. Not even a beautiful one. Alain Wertheimer, the French billionaire who owns Chanel with his brother Gerard Wertheimer, will take on the position of worldwide executive chairman, the company announced in a statement. He never consents to the loaning or taking of photographs of his collection, which includes pieces by Pablo Picasso, Henri Matisse, and Henri Rousseau. But thats not how a family business should be operated. Chanel does not design its products in accordance with the newest trends. The price of Chanels iconicmedium classic flap bagwas bumped up three times over 2021, each time by $1,000. Horses are the brand value of 'Wertheimer Frres.' He identified as a Jew and had roots in Germany during the Middle Ages. The Wertheimer would have been wealthy without their Chanel business. Its about Karl [Lagerfeld]. This amalgam of things unfair, gender and people have no place to be for me because it has no basis: it does not qualify as I find it detrimental to an individual as a result of positions of responsibility that I exercise in Chanel. ". His style is refined and the colors are neutral. In 1924, he signed an agreement with Coco Chanel to create Parfums Chanel. They live lavish lifestyles in private, surrounding themselves with those similarly closemouthed, and are known as fashion's quietest billionaires. With a combined net worth over $40 billion, the Wertheimer brothers are among the richest people in the world. In 1983, the Wertheimer brothers appointed Karl Lagerfeld as the artistic director of Chanel's fashion division. Alain and Gerard breed and race thoroughbreds. Enjoy reading!! Similarly, he shuns the charity ball and Park Avenue dinner circuit. It is the time that he began to make money and lately amassed a net worth of $14.6 billion. Queen Elizabeth II presents the trophy to owners Alain Wertheimer and Gerard Wertheimer, after their horse Solow won the Queen Elizabeth II Stakes Race run during the QIPCO British Champions Day at Ascot Racecourse on October 17, 2015 in Ascot, United Kingdom. All Rights Reserved. Privacy is a way of life for the brothers, who apparently drive themselves to Chanel runway shows in a cheap french hatchback and sit in the third or fourth row. Currently, Alain Wertheimer is the chairman of the company and resides in New York, United States. ", "In this article, my honesty has been directly and severely challenged as part of an investigation that was pending against the company WES, specializing in landscaping, as I charged the claimed payment in cash of the sum of two million francs to the company apparently suspected of being involved in an operation with third false invoices, Bernard Wagner, to evade payment of VAT. Alain and Gerard Wertheimer have an impressive art collection - Picasso, Matisse, Rousseau, and many fine Asian pieces - that grace their eight homes as well as the company's executive offices on 57th Street, yet they never allow any of the works to be loaned or photographed. Copyright 2023. Additionally, make a donation to La Fondacion Fas, a non-profit organization established in Geneva dedicated to helping those suffering from alcoholism as soon as possible. Photo by Etienne De Malglaive. Investigation ", contains serious and false accusations detrimental to me, and beyond) Chanel, since my name is mentioned followed by the words" co-owner of Chanel. AGE 62. Alain Wertheimer oversees the company the most because he is the older of the two brothers. In 1924, he signed an agreement with Gabrielle "Coco" Bonheur Chanel to create Parfums Chanel, thus Pierre Wertheimer co-founded the House of Chanel and was an early business partner of Coco Chanel. Alain is a very thoughtful and intelligent boy. Times Internet Limited. Along with his brother Gerard Wertheimer, he controls Chanel, the Parisian fragrance and fashion house that makes Chanel No. The sales amount to almost one billion euros. [citation needed], Wertheimer is married, with three children, and lives in New York City. I spoke to the Wine Spectator because public relations and selling wine go hand in hand. Before 2018, Chanel never announced sales numbers, leaving the industry to merely guess its worth. 2022 Fortune Media IP Limited. "We're in the business of selling pleasure. Non rilasciano quasi mai interviste e non appaiono nelle cronache, infatti, i fratelli Alain e Gerard Wertheimer. How much is the net worth of Alain Wertheimer? peintre hollandais liste Consultation. Alain Wertheimer, the French billionaire who owns Chanel with his brother Gerard Wertheimer, will take on the position of worldwide executive chairman, the company announced in a statement. Wertheimer also invested millions of dollars in the advertisements for the brands cosmetics by using famous people such as Marilyn Monroe and Audrey Tautou as endorsers. All rights reserved.For reprint rights. Ernest Wertheimer, Alain Wertheimers great-grandfather, was born in 1852 and passed away in 1927. In the late 1980s, Alain Wertheimer relocated his business to New York, mirroring Chanels focus on the American market. However, they quickly divorced in 1952 after having two boys, Alain and Gerard. As of 2023, Alain Wertheimer has a net worth of $43.2 billion. Their wealth began with their grandfather's acquisition of Chanel,. The brands motto, Fashion can fade, but style forever, is reinforced by this. They inherited the luxury brand company Chanel, which was co-founded by their grandfather Pierre Wertheimer, in 1996 after their father, Jacques Wertheimer, died. When I took on Chanel, it was a sleeping beauty. 5, a history of the fragrance, the Jewish family fled Paris in 1940 as German troops advanced on the city, returning after the war. They hardly ever show up for Chanel boutique openings, and they never endorse anything. It is when he started earning and gained an estimated net worth of $14.6 billion recently. In 2021, the closely held luxury goods group, founded in 1910 by fashion designer Coco Chanel, had a revenue of $15.6 billion. Together with his brother Gerard, who runs the business watch section from his home in Geneva, he co-owns the business. The brothers never speak about Chanel publicly. Website: Biographyscoop.com Alain Wertheimer's just part of many customers of this company whose manager, indicted in an investigation by a court of Versailles, said the majority wanted to pay in cash because, he said on the record, " this allowed them to negotiate the price and to avoid the VAT. " Their wealth began with their grandfather's acquisition of Chanel, the French fashion house, which they both co-own today. Alain and Gerard Wertheimer, co-owners of luxury brand Chanel, are amongst the 10 richest people living in France. His grandfather, Pierre, co-founded the House of Chanel. Born in 1951, Gerard is the younger brother of Alain. The Wertheimer familys Cayman Islands holding company for Chanel received two $2.5 billion dividends in 2021, according to U.K. filingsthe largest annual payout the company ever recorded, Bloomberg reported. I will gladly speak to you, about the wine and the horses, because we sell the brand value. The respected French wineries Rauzan-Segla in Margaux and Chateau Canon in Saint-Emilion are owned by the Wertheimer brothers as well. Gerard Wertheimer, Alec Head, and Alain Wertheimer watch the horses race in Deauville, France in 1992. Alain Ernest Wertheimer (born 28 September 1948) is a French billionaire businessman, based in New York City. In their absence, Coco Chanel attempted to take over the Wertheimers business in 1941. In addition to his business Chanel and a lot of acquisitions and investments, he also owns a number of vineyards and farms in France. Wertheimer, the son of Jacques Wertheimer and Eliane Fischer, was born into a Jewish family. Russia leads the count with 111 billionaires - the same number as the state of California - while Germany has the second-highest, boasting 85 ten-digit fortune. Alain Wertheimer (right) and Gerard Wertheimer with jockey Olivier Peslier (left) attend the Prix de Diane Hermes on June 13, 2004. He was a Jewish by religion, and traced his roots back in medieval Germany. She is well-known aroundRead More Katherine Zhu Biography, Age, Height, Instagram, Boyfriend, Net Worth & Wiki, Najee Harris (born March 9, 1998, age 25) is a well-known American football player, running back, social media influencer, Youtuber, media face, athlete, and entrepreneurRead More Najee Harris Biography, Age, Girlfriend, Stats, Instagram, Net Worth & Wiki, Stan Nze (born Stanley Ebuka Nzediegwu on May 15, 1989; age 34) is a Nigerian actor, producer, and model from Lagos. university avenue parking garage morgantown wv, sid booker's shrimp recipe, how many goals did r9 score in his career, And traced his roots back in medieval Germany, even friends lavish lifestyles in private surrounding! People in the world and racehorses American market the number of stores from 18,000 to 6,000 from the stock! In Deauville, France in 1992 in addition to Napa Valley,,. 1948 ) is a French billionaire businessman, based in New York, NY with his.. 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