LVMH launches entertainment venture led by Arnault heir and US boss
Reuters
Published Feb 22, 2024 11:56AM ET
PARIS (Reuters) - Luxury goods giant LVMH is launching an entertainment venture to boost the marketing of its labels, overseen by a committee of executives led by LVMH heir Antoine Arnault and Anish Melwani, CEO of the group's North America operations.
The new venture, called "22 Montaigne Entertainment" - a reference to LVMH group headquarters in Paris on Avenue Montaigne, is a partnership with Superconnector Studios and that company's co-founders Jae Goodman and John Kaplan, LVMH said.
The move comes as the fashion industry becomes increasingly linked to the entertainment industry, with the presence of stars like Beyonce, Zendaya and Rihanna adding buzz to fashion shows and LVMH label Louis Vuitton bringing in Pharrell Williams to head menswear designs.
French luxury goods billionaire Francois-Henri Pinault, chairman and CEO of Gucci-owner Kering (EPA:PRTP), last year bought a majority stake in Creative Artists Agency (CAA), a Los Angeles-based agency that represents thousands of actors, directors and music artists including Beyonce and Pinault's wife, Salma Hayek.
LVMH said the aim was to collaborate with leading entertainment creators, producers and distributors to co-develop, co-produce and co-finance entertainment focused on premium film, TV and audio formats.
Antoine Arnault is one of LVMH Chairman and CEO Bernard Arnault's five children and heirs, who is in charge of image and environment at LVMH and credited with negotiating a high-profile deal for the company to sponsor next summer's Paris Olympic Games. He stepped back from the day-to-day management of upscale menswear label Berluti in January.
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Written By: Reuters
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