September 27, 2016
French luxury conglomerate LVMH has renewed its Jardin d’Acclimatation concession with the city of Paris.
The renewal agreement was awarded to LVMH on Sept. 26 and will see an 80:20 partnership between the luxury group and Compagnie des Alpes, a developer and manager of theme parks. LVMH has been involved with the preservation of the Jardin d’Acclimatation since 1984 and has been a steward for historical and heritage programs throughout Paris and France as a whole for decades.
A visit to the gardens
LVMH and Compagnie des Alpes' concession has been inked for 25 years. In that time frame, the pair has planned an ambitious project based on two concepts.
The first concept is that of respect for tradition and the identity and image of the oldest attraction park in France. The second side of the project’s concept is to build out an extensive program to modernize and diversify its activities, to embellish its landscape and restore its heritage.
“I am delighted that Compagnie des Alpes will be able to provide its expertise and be associated with this splendid project in which we have a shared ambition,” said Dmiinqiue Marcel, CEO of Compagnie des Alpes in a statement.
LVMH and Compagnie des Alpes will create 18 attractions, nine of which will be free of charge. The 26 existing attractions will be renovated.
Children's park in Jardin d'Acclimatation
Plans for educational workshops, sporting and cultural events and the possible inclusion of dining facilities have been considered or are in the initial planning stages.
Above all, the development will stay true to the original spirit of the garden. The expansive Jardin d’Acclimatation dates back to Napoleaon II’s era and is the largest, most complete parkland in Paris.
The garden will remain the focal point of the attractions. LVMH and Compagnie des Alpes are expecting 2.5 million Parisians and tourists to visit the Jardin d’Acclimatation per year.
In a statement, Bernard Arnault, chairman and CEO of LVMH Group said, “The ethos of the garden is very much a reflection of LVMH values: innovative but respectful of heritage.”
Transformation of Jardin d’Acclimatation began when Fondation Louis Vuitton opened its doors a few short years ago (see story).
Paris is currently seeing a decline in tourism due to fear of repeat terrorist attacks after the November 2015 mass shooting and bombings.
Recently, Paris looked to increase its tourism numbers with a promotional film that tours the multifaceted city through the eyes of locals and visitors.
Starting this week, the film will be screened in Galeries Lafayette stores in Paris, Berlin and Beijing, as well as on Air France flights and screens in international cities. Following fatal terror attacks in November, Paris’ influx of tourists has dwindled, but the city’s government and key business players invested 2 million euro, or about $2.250 million, into a recovery plan (see story).