LVMH, the French luxury conglomerate headed by Bernard Arnault, has completed its latest major acquisition, but instead of an exclusive fashion brand or jewellery marque, the multinational company has purchased a €46.5 million villa in Cannes. The stunning property is set to become a hub for high-end events and experiential branding.
French luxury conglomerate LVMH has acquired Villa Bagatelle, a historic Art Deco property in Cannes, for approximately €46.5 million, according to Bloomberg. The sale is believed to have been finalised in April and was reportedly brokered by Magrey & Sons.
Built in 1928, the villa boasts 12 bedrooms, three swimming pools—two outdoor and one indoor—and expansive terraced gardens overlooking the Mediterranean. LVMH, which owns brands such as Louis Vuitton, Christian Dior, and Moët & Chandon, is expected to use Villa Bagatelle to host exclusive events during Cannes’ flagship festivals, from Cannes Lions to the world-famous Film Festival. The villa will also be rented out during the summer months, when the French Riviera becomes a magnet for affluent tourists.
Cannes, located around an hour from Monaco, is a prime location for high-profile marketing opportunities, given its reputation for hosting large-scale, sophisticated events. The city and its glamorous neighbourhoods, such as La Californie and Super Cannes, are also home to an incredible mix of modern and Belle-Époque properties, making Cannes a key destination for high-end real estate.
LVMH’s acquisition reflects a growing trend among luxury and fashion companies of investing in real estate for experiential marketing. In 2023, LVMH spent €2.45 billion globally on real estate acquisitions, primarily for retail spaces, but also including premium residential and hospitality properties.
The move aligns with LVMH’s broader push into entertainment, announced earlier this year, which aims to enhance brand visibility through premium film, television, and audio productions.
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Photo source: Magrey & Sons