LVMH Expands its Event and Property Portfolio with Acquisition of Cannes Estate

2024 most certainly concludes with significant news in the local luxury real estate market: LVMH, the French luxury powerhouse led by Bernard Arnault, made a remarkable acquisition. This time, instead of adding an exclusive fashion house or jewelry brand to its portfolio, the multinational purchased a stunning €46.5 million villa in Cannes.

The magnificent property is poised to serve as a hub for high-end events and experiential branding—a fitting purpose for such an acquisition. Luxury brands often collaborate with companies like Experience The French Riviera to secure premium rental properties for events ranging from fashion shows and charity galas to exclusive dinners for their most valued clients.

LVMH, the French luxury conglomerate, has purchased Villa Bagatelle, a historic property in Cannes, for around €46.5 million, Bloomberg reports. The sale, reportedly finalized in April, was facilitated by Magrey & Sons, one of our trusted partners.

Built in 1928, Villa Bagatelle is a masterpiece of Art Deco design, featuring 12 bedrooms, three swimming pools—two outdoor and one indoor—and sprawling terraced gardens with breathtaking views of the Mediterranean. LVMH, the luxury powerhouse behind brands like Louis Vuitton, Christian Dior, and Moët & Chandon, plans to use the property to host exclusive events during Cannes’ flagship festivals, such as Cannes Lions and the iconic Film Festival.

Additionally, the villa will be available for rental during the summer, when the French Riviera attracts affluent global travelers.

Cannes offers an unparalleled setting for high-profile marketing opportunities thanks to its reputation for hosting sophisticated, large-scale events. The city’s prestigious neighborhoods, including La Californie and Super Cannes, are renowned for their mix of modern and Belle-Époque properties, solidifying Cannes as a hotspot for luxury real estate.

LVMH’s acquisition underscores a growing trend among luxury and fashion brands to invest in real estate for experiential marketing. In 2023 alone, the company spent €2.45 billion on global real estate acquisitions, focusing primarily on retail spaces but also expanding into premium residential and hospitality properties. Other companies involved in the tech and pharmaceutical world have also been investing in luxury real estate since the Covid19 restrictions were lifted.

This move also aligns with LVMH’s broader foray into entertainment, announced earlier this year, which aims to amplify brand visibility through premium film, television, and audio production initiatives.