Notre Dame Cathedral’s Reopening Spectacle Capped a Stellar Year for Luxury House LVMH

CEO of LVMH Bernard Arnault, left, Antoine Arnault, CEO of Berluti , center right, and members of the Arnault family talk in Notre Dame Cathedral before France's iconic cathedral is formally reopening its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019, Saturday Dec.7, 2024 in Paris. (Ludovic Marin/Pool via AP, File)
CEO of LVMH Bernard Arnault, left, Antoine Arnault, CEO of Berluti , center right, and members of the Arnault family talk in Notre Dame Cathedral before France's iconic cathedral is formally reopening its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019, Saturday Dec.7, 2024 in Paris. (Ludovic Marin/Pool via AP, File)
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Notre Dame Cathedral’s Reopening Spectacle Capped a Stellar Year for Luxury House LVMH

CEO of LVMH Bernard Arnault, left, Antoine Arnault, CEO of Berluti , center right, and members of the Arnault family talk in Notre Dame Cathedral before France's iconic cathedral is formally reopening its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019, Saturday Dec.7, 2024 in Paris. (Ludovic Marin/Pool via AP, File)
CEO of LVMH Bernard Arnault, left, Antoine Arnault, CEO of Berluti , center right, and members of the Arnault family talk in Notre Dame Cathedral before France's iconic cathedral is formally reopening its doors for the first time since a devastating fire nearly destroyed the 861-year-old landmark in 2019, Saturday Dec.7, 2024 in Paris. (Ludovic Marin/Pool via AP, File)

The reopening of Notre Dame was a solemn celebration of cultural and spiritual renewal. Yet for some, the historic cathedral's revival also felt like a meticulously choreographed branding event from LVMH and other luxury conglomerates.

Bernard Arnault, the lowkey billionaire behind luxury powerhouse LVMH and a key Notre Dame donor who regularly tops the list of the world’s richest men, was at the center of the celebration. He was surrounded by his family, the French president, the archbishop and clergy, and the unmistakable symbols of his luxury empire’s influence, including its brands Louis Vuitton and Dior.

First lady Brigitte Macron held a conspicuous Lady Dior handbag. Louis Vuitton artistic director Pharrell Williams performed kitted out in Louis Vuitton. South African soprano Pretty Yende also contributed with a rendition of “Amazing Grace” while wearing a Dior gown adorned with 110 carats of diamonds.

Welcome to the “inauguration of the LVMH arena,” commented television journalist Yann Barthès about the cathedral ceremony this week.

LVMH has enjoyed unprecedented visibility in France in 2024, especially as a high-profile sponsor of the Paris 2024 Olympics.

Some questioned the taste of such brand prominence occurring in a sacred space like the beloved Gothic monument, while noting LVMH's crucial contribution to the reconstruction.

“You can’t blame monsieur Arnault, a businessman, to do business. But people are now asking if it was an appropriate venue for a display like that,” said fashion PR consultant Theo Fontaine.

“It’s been a great PR year for LVMH—that’s for sure,” Fontaine added. “The Olympics and now Notre Dame. The whole world has been watching.”

Not far behind Arnault sat representatives of Kering, adding another layer to the ongoing rivalry between France’s two largest luxury conglomerates.

Kering CEO François-Henri Pinault attended alongside his wife, actress Salma Hayek, who wore a tailored Gucci coat. Gucci is Kering-owned.

The event, marking the culmination of an 840-million-euro restoration effort following a devastating 2019 fire, brought together global dignitaries and cultural icons.

The Notre Dame restoration united France’s corporate giants. Arnault’s 200-million-euro donation was the largest, followed by 100-million-euro contributions from Pinault and the Bettencourt-Meyers family of L’Oréal. Over 250 companies and 2,000 craftspeople contributed to the five-year restoration effort, which reconstructed the spire, repaired vaulted ceilings and restored stained-glass windows.

As the bells of Notre Dame rang out across Paris, the cathedral’s rebirth stood as a testament to collective effort — but also for some as a symbol of how France’s seats of power and its prized luxury industry are inextricably intertwined.

French President Emmanuel Macron and Brigitte Macron welcomed heads of state, including President-elect Donald Trump, Britain’s Prince William and Elon Musk, to a ceremony steeped in tradition — and high fashion.

Arnault attended with his family, including Dior chair and CEO Delphine Arnault, LVMH image and environment director Antoine Arnault, Moët Hennessy deputy CEO Alexandre Arnault, LVMH Watches CEO Frédéric Arnault, and Louis Vuitton product and development director for watches Jean Arnault. Antoine Arnault’s wife, model Natalia Vodianova, was also in attendance.

“I am proud of the outpouring of generosity from all over the world, to which the LVMH Group and my family wanted to contribute from the very beginning, which has enabled the restoration of this jewel of our heritage,” Antoine Arnault said in a statement posted to LinkedIn.

“This extraordinary project highlighted the excellence of French know-how and the talent of nearly 2,000 architects, workers and craftsmen of all trades,” he added.

Yet, public reaction was mixed

Papuna Biliseishvili, 24, who watched the ceremony in Paris, quipped, “If the devil wears Prada, the cathedral wears Louis Vuitton and Dior.”

Cari Lefebvre, 27, said “this is the most PR the Catholic Church has seen in centuries.”

Marie-Claire Dubois, a 45-year-old Catholic worshiper from Paris, expressed her disapproval. “This is a sacred place. It is beautiful that these companies contributed, but the branding should have remained outside.”

While the grandeur of the reopening sparked debate, Arnault’s donation and LVMH’s contributions to the cathedral restoration—including 36 300-year-old oak trees for the spire—have been widely praised.

LVMH’s influence at the Paris 2024 Olympics further cemented its stellar year. The company crafted custom display cases for 5,000 medals and the Olympic torch, showcasing its artistry and precision. Berluti, another LVMH brand, designed costumes for the opening ceremony, while an Olympic-themed Vogue World fashion show, supported by the group, drew international attention during Paris Couture Week.

Tensions between Arnault and Pinault, the driving forces behind LVMH and Kering respectively, were on full display with their brands’ prominent appearances at the cathedral. This rivalry dates back decades to a bitter bidding war over Gucci in the late 1990s, which Pinault’s Kering ultimately won. Since then, their competition has extended beyond fashion into the realms of art, philanthropy and global influence.

In Notre Dame, French luxury was also championed by the French Catholic church — and was on display even in the stitch of the liturgical vestments. French fashion designer Jean-Charles de Castelbajac was called on by the church to design the cathedral’s 2,000 garments. The unorthodox designs were fun, modern — and perhaps shockingly minimalist. They ensured that even the clergy’s robes reflected high-fashion artistry, further underscoring the intersection of faith and fashion at the event.



Sources: Shein Weighs Sale of Less Than 10% of Company in London IPO

A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
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Sources: Shein Weighs Sale of Less Than 10% of Company in London IPO

A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo
A mannequin with a Shein sign stands in an office of a lingerie maker at WeMet Industrial Park, in Guanyun county of Lianyungang, Jiangsu province, China November 25, 2024. REUTERS/Florence Lo

Fast fashion retailer Shein is considering asking UK regulators to waive listing rules that require at least 10% of its shares to be sold to the public in its planned London flotation, two people with knowledge of the matter said.
The company is exploring this option to facilitate its IPO, one of the people said, according to Reuters.
If granted, it would likely be the first time that a company in London has been allowed to list below the recent 10% rule.
Singapore-headquartered Shein, which sells $5 tops and $10 dresses mostly made in China, in June filed confidentially with the Financial Conduct Authority (FCA) for a London listing.
However, Britain's financial regulator is taking longer than usual to approve its application, Reuters reported last week.
The people declined to be identified as they were not authorized to speak to the media.
Shein declined to comment.
Shein was valued at $66 billion in a fundraising round last year. A 10% flotation at that valuation would make the IPO worth $6.6 billion. The biggest European IPO this year was perfume and fashion company Puig's $2.9 billion deal, according to Dealogic.
The current valuation of Shein and how much it is looking to raise via the London listing was not immediately known.
London changed its listing rules in 2021 to boost the attractiveness of the venue for companies. It cut the proportion of shares an issuer is required to float to 10% from 25%, reducing potential barriers for large IPOs, the FCA said at the time.
In July, Britain ushered in the biggest reform of company listing rules in more than three decades to help it compete more effectively with New York and the European Union for new issuers.
Shein began to explore a listing on the London Stock Exchange early this year, Reuters reported in May, citing sources. The China-founded company's original plan to list in New York was derailed after opposition from US lawmakers.
Shein is also waiting for China's securities regulator to approve its plans for a London IPO, Reuters previously reported. Its revenues are expected to hit $50 billion this year, up 55% from 2023, according to Coresight Research.