LVMH operates in a world of opulence, high-end style, and star-studded partnerships. The French firm is the world’s largest luxurious firm, and its patriarch, Bernard Arnault, is among the many world’s richest males.
That’s why the newest addition to Arnault’s sprawling enterprise empire might sound unlikely—an unassuming Parisian bistro that sells $100 roast hen and has a 3.5-star ranking on Journey Advisor.
LVMH introduced its buy of Chez l’Ami Louis, a 100-year-old bistro, which the corporate referred to as an “authentic Parisian gem.” It’s unclear how massive LVMH’s majority stake within the restaurant is, though the bistro’s deep French roots and the tradition it represents are why the conglomerate purchased it.
“LVMH will work to preserve the unique character and family identity of the restaurant and continue to support its French savoir-faire and expertise,” the luxurious firm stated in a press launch final week.
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Chez l’Ami Louis won’t be as flashy as LVMH’s different companies—suppose Dior and Tag Heuer—nevertheless it’s well-known in its personal proper. Situated within the central district of Le Marais, the bistro has hosted Invoice Clinton and Martin Scorsese prior to now.
“‘Chez L’Ami Louis’ has acquired an unprecedented atmosphere and popularity among Parisians, becoming a go-to destination for those seeking an authentic culinary experience in the capital,” LVMH stated.
Serving foie gras, french fries and recent fruit platters, the restaurant will get its produce from small breeders and market gardeners, LVMH stated in its launch.
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As a bellwether within the luxurious trade and one in every of Europe’s largest firms, LVMH has extra sway than the common firm.
The acquisition of Chez l’Ami Louis displays the Arnault-owned conglomerate’s broader push to diversify its operations outdoors of retail. LVMH introduced plans to spend money on the Orient Categorical, recognized for its luxurious prepare journeys originating from Paris, which Arnault stated represents “adventure and elegance.”
The corporate additionally owns high-end resort teams Belmond and Cheval Blanc along with its well-known luxurious retail homes. LVMH has been hit by a slowdown in luxurious demand in latest months, bringing a renewed focus to its different enterprise areas that provide experiences.
Given the Paris-based firm’s distinguished function as a sponsor of the upcoming Paris Olympics, the Arnaults additionally made it their mission to make use of the occasion to lift LVMH’s profile. As an illustration, Chaumet, a jeweler it owns, is designing the gold, silver and bronze medals for the Olympics this time.
The corporate is betting on Paris’s picture as a worldwide enterprise capital, and Chez l’Ami Louis might assist obtain that.
An unnamed supply informed CNN that Arnault has been to the bistro earlier than, and the acquisition means that the LVMH CEO is eager to protect Paris’s “identity and expression.”
