The reopening of Notre-Dame de Paris has recalled debate over the €200 million contribution of France’s Bernard Arnault, the CEO of the LVMH luxury group, to its restoration. Announced in the hours after fire devastated the cathedral in April 2019, the donation surprised many but aligned with Arnault’s track record as a cultural benefactor.
From founding the Louis Vuitton Foundation in 2014 to regular multi-million-euro donations, including €10 million to Les Restos du Cœur (Restaurants of the Heart), a French charity providing food aid, in 2023, Arnault’s patronage has become almost synonymous with the LVMH brand. But what drives these expenditures? What do Arnault and his luxury empire stand to gain? And what risks are they taking?
