French conglomerate LVMH is already a major player in the luxury industry, with 75 brands under its belt.
But that won’t stop the company from setting its sights on other lucrative prospects, such as Hollywood.
The owner of Louis Vuitton and Dior plans to make inroads into the billion-dollar entertainment industry with a venture called 22 Montaigne Entertainment, a reference to the address of LVMH’s Paris headquarters.
Led by CEO Bernard Arnault’s eldest son Antoine Arnault and LVMH North America head Anish Melwani, the new platform will aim to promote and feature the French fashion group’s products in films and TV shows in partnership with US studio Superconnector Studios.
“We are pleased to formalize our approach to promoting our brands in entertainment formats. . . complementary [their] direct engagement activities,” Melwani said in a statement, according to That Financial Times.
The collaboration is the first of its kind for LVMH, which will co-develop and finance Hollywood projects. But recently, the combination of luxury and entertainment has become more common.
Last year, Francois-Henri Pinault, who through his holding company Artemis owns Gucci owners Kering and Puma, bought a majority stake in talent management company Creative Artists Agency. CAA is among the leading Hollywood agencies and manages such giants as George Clooney, Brad Pitt and Scarlett Johansson.
Arnault’s LVMH, for its part, has worked with pop stars before – for example, the company brought on Pharrell Williams as its head of menswear, and has also struck deals with stars such as Zendaya and Beyoncé.
Arno in Hollywood
The goal of the new LVMH venture is to help connect the company’s various luxury houses with film, TV or audio projects that could help strengthen individual brands, Melwani, the group’s head of North America, said in an interview. With Deadline earlier this week.
“It’s more of an evolution than anything else because luxury and entertainment have long been linked. Both are about culture,” Melwani said, adding that the financial returns from 22 Montaigne Entertainment are difficult to estimate as it is still “early in the development cycle.”
“It’s not LVMH coming to Hollywood with a big checkbook and saying, ‘We’re going to make movies,'” he said. “That’s not the intention.”
Antoine, chairman of the board of LVMH, tasked with leading the new entertainment direction, is responsible for managing the image and sustainable development of the entire company. He is also credited with securing the luxury giant’s high-profile sponsorship with upcoming Olympic Games in Paris this summer.
Last month Antoine moved away has left his position as head of luxury men’s fashion house Berluti – a move that has left industry observers with questions about what his next role will be.
He now runs the family’s Paris-listed Christian Dior holding company, which owns most of Arnault’s LVMH shares.
LVMH’s moves are closely watched by the luxury industry as its portfolio is broad and diverse even in the luxury sector, from clothing to cosmetics and spirits. The group reported strong annual results in 2023 as demand for high-quality goods remained resilient, although demand had not yet fully recovered to pre-pandemic levels.
LVMH representatives did not return immediately Luckrequest for comments.