PARIS — It’s accolade season for European fashion and luxury executives.

A week after Institutional Investor anointed Gucci Group’s Domenico De Sole as Europe’s best luxury goods chief executive, Fortune magazine this week gave kudos to “the 25 most powerful business leaders outside the U.S.”

Bernard Arnault, chairman of luxury giant LVMH Moët Hennessy Louis Vuitton, was one of two recipients in the sector, ranking 14th and cited for being “tenacious in pursuit of his global ambitions.”

L’Oréal’s Lindsay Owen-Jones came in at No. 21, praised for 18 consecutive years of double-digit profit growth.

Neither Arnault nor Owen-Jones could be reached for comment.

Fortune editors based the ranking largely on the executives’ ability to affect the behavior of other people, “whether in a company, an industry or the world at large.”

Topping the Fortune foreign list was John Browne of British petroleum powerhouse BP and Nobuyuki Idei of Sony in Japan, followed by an international Who’s Who from such diverse industries as automotive, banking, telecommunications, pharmaceuticals and advertising.

In its U.S. list, Fortune ranked Wal-Mart ceo Lee Scott third behind Warren Buffett of Berkshire Hathaway and Microsoft’s Bill Gates.

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