A meticulous and unfailingly courteous Parisien, Carcelle is credited with transforming a luggage company into one of the world's leading - and most profitable - luxury brands, a marque whose cachet was underpinned, in part, by its association with the America's Cup, the oldest trophy in international sport.

Since it was first contested in 1983, the Louis Vuitton Cup has been awarded to the winner of the race series that usually determines which boat is to challenge the America's Cup holder for their title.

Several Louis Vuitton Cup-winners have gone on to win the America's Cup itself.

Carcelle, who attended the elite Ecole Polytechnique, took over as Louis Vuitton's main man in 1990, staying at the helm until 2012.

An astute and perceptive observer of the world around him, he once told the Financial Times' Paul Betts that the event's charm was down to "people who have already made their fortunes and reputations devoting three years of their lives to try to win perhaps the ugliest silver cup ever made".

Bernard Arnault, head of the LVMH luxury group of which Louis Vuitton is part, described Carcelle as a "pioneer", and said he was "one of the most inspiring leaders of men and women whom I have ever had the privilege of knowing".

His former staff, Arnault said, would remember Carcelle as "a manager and mentor who was accessible, human and sincere".