When you face a creative change at the house, you have to start a dialogue, and talk with the designer about how he envisions the brand to make sure that you're on the same page. It's the way the designers talk about the brand, and what they see, and their emotions, how they perceive the house.

You have to be very brave and very entrepreneurial - you have to dare to create your own brand.

Im lucky that its about fashion and perfume and cosmetics. If my father had owned a tire company, I dont know what I would have done.

I have a passion for modern and contemporary art. I spend a lot of time in museums; I particularly like the Guggenheim, MoMA in New York or LACMA and the Getty Museum in Los Angeles, for example. I cannot wait for the Louis Vuitton Foundation to open.

At LVMH, we have amazing heritage brands, and we put interesting talents in those brands, sometimes very young, like we did at Givenchy with Riccardo Tisci at the time, or like we just did with J.W. Anderson at Loewe, but also talents that are already further along in their careers, like Raf Simons at Christian Dior or Nicolas at Vuitton.

That's what's good about life - that you always learn.

I think an art collection is a lot like a diary. Your taste evolves with time. I try to never sell anything, because its part of my journey.