LVMH acquires Belmond for $3.2 billion, entering experiential luxury

Bernard Arnault's LVMH has finalized the purchase of Belmond, a London-based company, for $3.2 billion. Belmond manages 46 hotels across 24 nations, featuring renowned locations such as Cipriani in Venice and Caruso in Ravello, in addition to providing river cruises and luxury train experiences like the Simplon-Orient-Express. This acquisition marks LVMH's most significant since the $4.3 billion buyout of Bulgari in 2011. The move strengthens LVMH's foothold in the experiential luxury market, targeting affluent younger consumers from Asia. Previously, LVMH has launched Bulgari Hotels and possesses the Cheval Blanc collection, boasting a total of 70 brands across six sectors, including fashion, jewelry, cosmetics, watches, and wines, enhancing its competitive edge against rival hotel chains.