Dear readers, the aim of this blog was to highlight actions that luxury brands are taking for being on the top share of voice, and this includes what are brands doing on Internet, but also what are they doing to be cool, trendy and likely to their consumers. Fashion and Arts have always been very related, not just because Fashion is, like any other mastery, an expression of emotions, but because it’s 100% sure that when one takes advantage of the other, there will be good results.
In this case, the Luxury and Fashion company LVMH has invested in the art world under the name of their most known house, Louis Vuitton. Last October 22, 400 guests from the business, art, and fashion worlds gathered in Paris for the inauguration of the magnificent Fondation Louis Vuitton. A dozen years and some $135 million in the making, the Fondation Louis Vuitton is like no other museum in the world. Entirely private, supported by LMVH and Bernard Arnault, it will showcase contemporary art in a remarkably distinctive structure. Designed by Frank Gehry, the museum even outshines his Guggenheim Museum in Bilbao, Spain.
Frank Gehry with a mockup of the Fondation
Marion Cotillard, Antoine Arnault and Natalia Vodianova at the opening
It’s obvious the beauty of the building and the high standing within the architecture world, what is not so obvious is the reasons why Bernard Arnault, chairman of the luxury conglomerate LVMH—the wealthiest man in France and one of the most elusive, whose empire stretches from Dior haute couture to Sephora, and whose many holdings include the Jardin d’Acclimatation, has decided to started this journey.
We all know that the crisis has also touched the original Luxury brands (Chanel, Hermés, Dior, Louis Vuitton, Burberry…). Diversifying their products and activities has anything but positive effect back to them, so LVMH started doing it already for some years. The most recent one was to purchase the famous milanese café Cova, and now opening one of next parisians culture masterpieces.
The thing is that the group has made no secret of the need for a breath of fresh air at Louis Vuitton, the group’s cash cow, which, in recent years, has faced slowing sales growth and diminished cachet. The decision to brand the futuristic Gehry-designed Foundation with the Louis Vuitton name (and not that of its corporate owner LVMH) will certainly help to signal change at the brand. And, if the Louis Vuitton-branded Foundation becomes a must-see stop on the itinerary of the millions of travelers who visit Paris each year, it will become a powerful brand beacon, cementing Louis Vuitton’s links to contemporary art and French culture.