Paris, March 6 (BUS): Dior reopened its sprawling flagship store and museum on the brand’s historic Avenue Montaigne site this week after a two-year renovation, the latest in a string of mega-real estate investments from luxury conglomerate LVMH in the French capital.
The complex’s official opening, scheduled for March 6, follows a string of openings of new locations from the group in recent months, including a department store and two luxury hotels – the Cheval Blanc overlooking the Seine and the Bulgari Hotel on Avenue Tony avenue George V, according to Reuters. .
LVMH has benefited from a boom in post-pandemic demand for upscale consumption, even without the return of wealthy visitors from abroad – a major source of industry revenue in recent years, particularly in Europe.
“Of course we are optimistic that the tourists will return one day,” said Pietro Beccari, Chairman and CEO of Christian Dior Couture.
The newly expanded complex spans over 10,000 sq m (107,640 sq ft), with cafes, gardens, a restaurant and a private apartment for VIP night visits, as well as floors of retail space stocked with clothing, accessories, cutlery, and makeup.
Adjacent to the store is the “La Galerie Dior” museum that traces the history of the label from the 1940s, including dresses from that era, as well as the desk of the late Christian Dior and the original fitting room filled with hats, gloves, and jewelry.
The project was contemplated by Beccari and LVMH President Bernard Arnault in 2018, before the brand had the economic firepower of such a project, Beccari said in an interview.
The executive declined to provide financial details of the project, which included relocating historic workshops and 400 employees from the site, and digging a second vault under the building.
“The building stood on little pillars for weeks – I didn’t sleep well,” Beccari said.
HF