LVMH’s $2.6 Billion Bet on High-End Experiences
Photo Credit: The Belmond Mount Nelson Hotel, in Cape Town, South Africa. Luxury conglomerate LVMH is buying Belmond. Belmond / Mark Williams
Skift Take
LVMH's decision might seem strange on the surface, but in reality it makes a lot of sense for a company that wants to make sure it has a piece of all things luxury.
Luxury Travel News
The Skift New Luxury column is our weekly column focused on the business of selling luxury travel, the people and companies creating and selling experiences, emerging trends, and the changing consumer habits around the sector.
For once, it wasn't one of the usual suspects. Luxury conglomerate LVMH came out of left field to snaffle up Belmond in a deal valued at $2.6 billion.
So what does a company that mostly sells high-end luxury goods want with a hotels and trains operator? It all comes down to experiences.
LVMH is great at "things." It has a portfolio that includes the likes of Fendi, Bulgari, and Hennessy, but it has recognized that today's luxury consumer wants more than a particular handbag or watch.
As LVMH Chief Financial Officer Jean-Jacques Guiony explained
