LVMH to Inject Up to €150 Million Into Struggling Le Parisien
A man sits alone at a cafe table reading the newspaper Le Parisien.
Photographer: Stephane Ouzounoff/AFP/Getty ImagesLVMH Moët Hennessy Louis Vuitton SE will inject as much as €150 million ($173 million) into its loss-making Le Parisien to help improve the newspaper’s finances.
The funds provided by the luxury group, best known for owning labels such as Louis Vuitton and Christian Dior Couture, will guarantee the stability of Le Parisien’s operations, an LVMH spokesperson told Bloomberg News. The capital injection was first reported by AFP.