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Article: One up for LVMH; Luxury goods.(Moet Hennessy Louis Vuitton)
- Article from:
- The Economist (US)
- Article date:
- October 7, 2006
CopyrightCOPYRIGHT 2006 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Frank explains his heavenly cloud to Bernard
The latest round in the rivalry between two French businessmen
BERNARD ARNAULT was beaming as he announced the establishment of the Louis Vuitton Foundation for Creation on October 2nd at the headquarters of Moet Hennessy Louis Vuitton (LVMH), his big luxury-goods conglomerate. Le cashflow is not enough, he declared. Frank Gehry, the architect who will design the building to house the company's collection of contemporary art and temporary exhibitions, called it a "heavenly assignment". And the mayor of Paris, Bertrand Delanoe, called it "a magnificent gift" for the city.
Mr Arnault's gesture will ...