Louis Vuitton plans to open its first hotel on the Champs Elysées, becoming the latest luxury brand to enter the hospitality business.
In a big surprise, Louis Vuitton will open its first hotel on the Champs Elysées at number 103, in a building that Dior, also part of the LVMH group, had previously announced would be its headquarters and address for the new superstore.
Instead, Vuitton will move into the giant building, while Dior, in turn, could take over Vuitton’s existing giant boutique at 101 Champs Elysées, according to industry sources in Paris.
The 103 building is currently covered in a giant white ball bearing dozens of large images of Dior fabrics. However, the change in tactics apparently came after some deft internal politics and in the wake of the February appointment of Pietro Beccari as CEO of Louis Vuitton. In his previous role as CEO of Dior, Beccari oversaw a massive renovation of the historic Dior flagship on nearby Avenue Montaigne.
“The official pre-pandemic decision was that Dior would stick with number 103, and now it has changed. But you can imagine the impact that a luxurious five – star Louis Vuitton hotel will have on the entire avenue !
According to him, LVMH, which is controlled by the richest man in the world, Bernard Arnault, pays about 60 million euros in annual rent for address 103, owned by the royal family of Qatar. The immense building, which is 22,000 square meters, is believed to be the largest on the Champs Elysées, the most famous avenue in Europe.
