Housing the likes of Dior, Sephora and of course Louis Vuitton, French conglomerate LVMH are planning its next business venture according to a report from Business of Fashion. As the multinational company look to take on more designers and retailers, including Rhianna’s new luxury line, they will soon own a slice of London real estate.
In a bid to create a new experience for its customers, LVMH has planned a new hotel under the company’s Cheval brand of accommodations. “The future of luxury will not only be in luxury goods, as it’s been for many years, but also in luxury experiences, and we want to be in both segments,” stated LVMH chief executive officer, Bernard Arnault, to BoF.
Slated to open in 2022, the hotel will reportedly sit on Grafton Street in Mayfair, known to be a high-end section of the city. It will also house a restaurant, spa and possibly a Celine flagship store housed in the building. The experiential venture is set to be designed by legendary architect Norman Foster and cost half a billion pounds.
While its a fresh addition to the hospitality offerings from the company, its not the first hotel that it runs, operating a chain of Bulgari Hotels as well as acquiring high-end hospitality company Belmond Ltd in December 2018.
Stay tuned for more.