, Columnist
LVMH Pays Up for a Luxury Holiday. It’s Worth It
The French seller of high-end personal goods needed a bigger move into experiences. Belmond is a good fit – and it can afford the high price.
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Photographer: Andreas Solaro/AFP/Getty Images
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You don’t want to just buy the must-have handbag or wear the pricey jewels anymore; you want to stay at the luxe hotel and dine at the posh restaurant.
That’s the motivation behind LVMH’s $2.6 billion purchase of Belmond Ltd, the owner of the Hotel Cipriani in Venice and the Copacabana Palace in Rio de Janeiro.