Rumor: Gagosian Gallery Acquired by LVMH, Denials and Speculation
On October 24, 2022, Dagospia announced that LVMH, under the leadership of Bernard Arnault, was negotiating to purchase Gagosian Gallery. However, founder Larry Gagosian refuted this claim in Artnews, asserting that the gallery is not on the market. Contrarily, art critic Kenny Schachter took to Instagram to declare that the acquisition was finalized, stating, "The Gagosian Gallery has been sold to LVMH." This speculation emerged during the Paris+ art fair week. Established in 1980, Gagosian Gallery has 19 locations globally. LVMH, which owns brands such as Louis Vuitton and Tiffany, could potentially merge a significant gallery with a luxury brand, prompting discussions about the intersection of art and luxury. Observers are curious about the sale price, Gagosian's future involvement, and the effects on the gallery's network.
Key facts
- Dagospia reported on October 24, 2022, that LVMH is in talks to acquire Gagosian Gallery.
- Larry Gagosian denied the rumor to Artnews, saying the company is not for sale.
- Kenny Schachter claimed on Instagram the sale is completed.
- Gagosian Gallery was founded in Los Angeles in 1980 and now has 19 locations worldwide.
- LVMH is the world's largest luxury conglomerate, owning brands like Louis Vuitton, Dior, and Tiffany.
- Bernard Arnault is a major art collector and heads the Fondation Louis Vuitton.
- The rumor circulated during Paris+ art fair week in Paris.
- Christie's acquisition of Haunch of Venison (2007-2013) is cited as a precedent.
Entities
Artists
- Larry Gagosian
- Bernard Arnault
- Kenny Schachter
- Frank Gehry
- François Pinault
Institutions
- Gagosian Gallery
- LVMH
- Fondation Louis Vuitton
- Artnews
- Dagospia
- Christie's
- Haunch of Venison
- Art Basel
- Paris+
Locations
- Los Angeles
- New York
- Paris
- London
- Rome
- Athens
- Italy