LVMH Group (Louis Vuitton) launches hotel brand
Following in the steps of Versace, Missoni, Salvatore Ferragamo and Armani, LVMH Group, the world’s largest luxury conglomerate is launching its own luxury hotel brand CHEVAL BLANC, inspired by the concept the group owns in the French ski resort of Courchevel. The first properties will be developed in Egypt and Oman, yet the entire investment will be supported by Orascom, one of the largest holding companies in Egypt.
Salvatore Ferragamo is the clear leader, owning and operating 6 hotels, followed by Armani (2 in opening stages), Missoni (2 in operation) and Versace (1 in operation). Expanding into hotels has proven very challenging for most of the fashion brands, the only one which has mastered this is Salvatore Ferragamo which owns and operates highly rated properties. In order to avoid clear connections with the fashion brand, the Ferragamo company operates the hotel division under the Lungarno Hotels brand, a very smart strategic decision. The rest of the above mentioned brands own or operate hotels in joint venture with major developers (Armani with Emaar Holding, Missoni with Rezidor, Versace with Sun).