LVMH plans London hotel-retail project
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Luxury retailer LVMH is harbouring plans to develop a corner of London’s Grafton Street, according to a report on Business of Fashion.
The development, made in partnership with privately owned property developer O&H, will reportedly include a Cheval Blanc hotel, a restaurant, a spa and a rumoured flagship Celine boutique. The projects are expected to be complete by the third quarter of 2022.
The news follows the group’s acquisition of luxury hospitality group Belmont at the end of last year, at which time the company said it saw growth potential in the luxury sector coming not only from goods, but also high-end experiences.
LVMH already operates a number of locations in the Grafton Street vicinity, including stores by Louis Vuitton, Loro Piana, Christian Dior and Rimowa nearby.
Questions & Answers
Q.What will the LVMH development in London's Grafton Street include?
What will the LVMH development in London's Grafton Street include?
The project is expected to feature a Cheval Blanc hotel, a restaurant, a spa, and a rumoured flagship Celine boutique. It represents LVMH's strategy to expand beyond luxury goods into high-end experiences.
Q.When is the LVMH London project expected to be completed?
When is the LVMH London project expected to be completed?
The development, located on a corner of Grafton Street, is anticipated to be finished by the third quarter of 2022. It forms part of LVMH's broader investment in luxury hospitality.
Q.Which company is LVMH partnering with for this development?
Which company is LVMH partnering with for this development?
LVMH is partnering with O&H, a privately owned property developer, for this new project in London. This collaboration will bring a luxury hotel and retail space to Grafton Street.
Q.How does this development align with LVMH's recent business strategy?
How does this development align with LVMH's recent business strategy?
This project aligns with LVMH's stated growth potential in the luxury sector, which the company sees coming from both goods and high-end experiences. It follows their acquisition of luxury hospitality group Belmont.
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