FRANCE. The Moët Hennessy Louis Vuitton (LVMH) Group and the Arnault family will donate €200 million to assist with the reconstruction of the Notre Dame cathedral in Paris, while many other companies involved in travel retail have also pledged hundreds of millions of euros.
The 850-year-old cathedral was severely damaged in a fire, which destroyed the iconic building’s spire and roof, two days ago.“The Arnault family and the LVMH Group, in solidarity with this national tragedy, are committed to assist with the reconstruction of this extraordinary cathedral, symbol of France, its heritage and its unity,” the company said in a statement.
LVMH Group described Notre Dame as a “core part of the French history”.
“The LVMH Group puts at the disposal of the State and the relevant authorities all its teams – including creative, architectural and financial specialists – to help with the long work of reconstruction and fundraising, which is already in progress,” the company added.
Cosmetics powerhouse L’Oreal and its founding Bettencourt family have also pledged €200 million to the reconstruction effort, while Kering Group Chairman and CEO François-Henri Pinault pledged €100 million. Gucci and Yves Saint Laurent are among the brands owned by Kering.
JCDecaux and the Decaux family said they would provide €20 million to the funds being collected to rebuild Notre Dame. The company said it would also provide national and global visibility on fundraising schemes to rebuild the cathedral through its advertising spaces.