LVMH to open Parisian… theme park?
Multinational luxury powerhouse LVMH is bringing something new to Paris. But this time, it won’t be a stylish new leather bag, or high-end perfume – it will be a “steampunk” theme park. Steampunk is a science fiction genre that centers around steam-powered technology in a futuristic setting: it is rife with undersea adventures, blunderbusses, weird science, and Victorian sensibilities. And it is not, perhaps, a subject that many people would equate with the company that owns brands like Louis Vuitton, Marc Jacobs, and Fendi.
LVMH’s share price has gone up by 21% so far this year
SOURCE: Yahoo Finance
The park will be a conversion of Paris’s Jardin d’Acclimatation, and it might not be quite as leftfield as it seems at first. LVMH has looked after the land it will be built on since the 1980s, and holds a majority stake in theme park developer Compagnie des Alps. Steampunk is also amongst the more stylish genres of fiction – where tailored suits and ball-gowned-heroines are not unusual – and remains popular in France.
Delphine Pons, head of development at Compagnie des Alps elaborated on LVMH’s goals at a recent press conference, where she said that the company hopes its new park will “rank second or third amongst theme parks in France” (top spot, of course, belongs to Disneyland Paris, which sees more than 30 million annual visitors).
Construction at the park will conclude in the summer of 2018, though the gardens will remain open throughout. Many of the original features housed there will be restored as part of the attraction, and this historic piece of Parisian culture will soon find itself with a new – albeit it, slight unusual – lease of life.
Dominion holds LVMH in its Global Trends Luxury Fund.
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