The Samaritaine department store building, left, operated by LVMH Moet Hennessy Louis Vuitton, stands on the end of the Pont Neuf bridge beside the original Samaritaine building, right, as renovation work continues on the department store building development in Paris, France, on Tuesday, Nov. 19. 2019. The world’s biggest luxury group LVMH, controlled by billionaire Bernard Arnault--is set to reopen the Samaritaine department store next April after 15 years. Photographer: Laura Stevens/Bloomberg
PARIS: Europe’s wealthiest man is spending more than US$1bil on a Paris department store at a time when other shops are going out of business and consumers are turning to Amazon.com Inc.
La Samaritaine, part of billionaire Bernard Arnault’s LVMH luxury empire, is set to reopen next April after a 15-year renovation. On Tuesday the company gave reporters a tour of the site, showing off its restored Belle Epoque glamour, including ornate frescoes, mosaics and wrought-iron staircases.
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