French conglomerate LVMH is already the largest participant within the luxurious trade, with 75 manufacturers underneath its belt.
However that’s not going to cease it from setting its sights on different profitable prospects—like in Hollywood.
The Louis Vuitton and Dior-owner plans to foray into the leisure trade price billions of {dollars} in a enterprise known as 22 Montaigne Leisure, a nod to the deal with of LVMH’s Paris headquarters.
Underneath CEO Bernard Arnault’s eldest son, Antoine Arnault, and LVMH’s North America head Anish Melwani, the brand new platform will goal to market and place the French trend group’s merchandise in films and TV reveals in a partnership with U.S.-based Superconnector Studios.
“We are excited to formalise our approach to the promotion of our brands across entertainment formats . . . complementing [their] direct engagement activity,” Melwani mentioned in a press release, based on the Financial Times.
This collaboration is the primary of its form for LVMH, which is able to chip in on growing and financing Hollywood tasks. However crossovers between luxurious and leisure have develop into extra frequent in latest occasions.
Final yr, Francois-Henri Pinault, who owns Gucci-owner Kering and Puma via his holdings firm Artemis, purchased a majority stake in expertise administration firm Artistic Artists Company. CAA is among the many prime Hollywood companies and manages juggernauts like George Clooney, Brad Pitt and Scarlett Johansson.
Arnault’s LVMH, for its half, has labored with pop stars earlier than—for example, the corporate introduced Pharrell Williams on board as the top of menswear and has additionally inked offers with the likes of Zendaya and Beyoncé.
The Arnaults’ in Hollywood
The objective of LVMH’s new enterprise is to assist join its numerous luxurious homes to film, TV or audio tasks that might assist amplify the person manufacturers, the group’s North America chief Melwani mentioned in an interview with Deadline earlier this week.
“It’s more of an evolution than anything because luxury and entertainment have been connected for a long time. Both are about culture,” Melwani mentioned, including that the monetary returns from 22 Montaigne Leisure was laborious to gauge because it was nonetheless “early in the development cycle.”
“This isn’t LVMH coming to Hollywood with a big checkbook to say, we’re going to go make movies,” he mentioned. “That’s not the intention.”
Antoine, who’s a boss at LVMH tasked with main the brand new leisure effort, is accountable for managing the complete firm’s picture and sustainability. He’s additionally been credited with sealing the high-profile sponsorship for the posh behemoth with the upcoming Paris Olympic Games this summer time.
Final month, Antoine stepped away from his position main high-end males’s trend home Berluti—a transfer that left trade observers with questions on what his subsequent position could be.
He now manages the household holdings firm Christian Dior, which is listed publicly in Paris and owns a lot of the Arnaults’ LVMH stake.
LVMH’s strikes are intently adopted by the posh trade as its portfolio is wide-ranging and various even inside luxurious—from attire to magnificence and spirits. The group reported sturdy annual efficiency in 2023 because the urge for food for high-end items stayed resilient, although it’s but to see demand absolutely recuperate to pre-pandemic ranges.
Representatives at LVMH didn’t instantly return Fortune’s request for remark.
