When Bernard Arnault, one of the world’s richest men and chairman of LVMH, dropped by Shanghai in September, many assumed his itinerary would be routine: check in on Louis Vuitton, Dior, and the rest of his empire’s boutiques in China’s most prestigious malls. But instead, Arnault did something unexpected.
He went shopping for Chinese brands.
At the new-age luxury shopping mall Qiantan Taikoo Li in Shanghai, Arnault stopped by Songmont, a minimalist leather goods label. There, he bought two handbags, according to people familiar with the situation who asked not to be named discussing a private matter.
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