French billionaire Bernard Arnault and the LVMH Group have committed to assist with the reconstruction of the partially damaged Notre Dame Cathedral.
They will donate a total sum of €200 million to the fund dedicated to the reconstruction of the architectural landmark, which remains a core part of French history.
LVMH is a fashion house that owns a luxury portfolio of brands spanning wines and spirits, fashion, perfumes and cosmetics, watches and retail stores. Among these are Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Louis Vuitton, Christian Dior Couture, Fendi, Parfums Christian Dior, Parfums Givenchy, Bulgari, TAG Heuer, Dior Watches, DFS and Sephora. In December, the company announced it would enter the travel space by acquiring luxury travel business, Belmond.
LVMH Group has also put its team at the disposal of the State and local authorities, including their creative, architectural and financial specialists, to help with the long work of fundraising and reconstruction. The company has made a statement that this work is already in progress.
Fellow luxury fashion and beauty brand Kering, which owns Gucci and Yves Saint Laurent, has pledged €100 million. Chairman of the Kering Group, François-Henri Pinault, is also the chairman of Artemis, the holding company that controls the assets of the Pinault family, including the luxury cruise company PONANT.
French President Emmanuel Macron has said that the rebuilding of Notre Dame – the most visited monument in Europe and a bastion of France’s national identity – will be a high priority in the years to come.
Image credit: Thierry Mallet | The Associated Press