In April 2024, the LVMH group surprised everyone with the purchase, on the sidelines of the international film festival, of a villa in the hills above Cannes. This strengthening of the luxury leader’s real estate holdings near the Croisette reflects both the importance the group attaches to the experiential aspect and the protection of the exclusive image of the group’s brands.
The LVMH group has for some time been very interested in investing in real estate. In addition to its prestigious Parisian addresses, such as 150 avenue des Champs-Elysées, 7 rue de la Paix, 22 avenue Montaigne and 10 rue Volney, it can now add a villa in Cannes to its portfolio.
Located in the exclusive La Californie district of Cannes, the Villa Bagatelle is part of the customer entertainment strategy of at least three of its brands, according to an anonymous source consulted by Bloomberg on the year of the transaction.
A sensational Art Deco property
In April 2024, real estate agency Magrey & Sons completed one of the largest real estate transactions in the city of Cannes. LVMH discreetly purchased Villa Bagatelle for €46.5 million (excluding furniture and fees).
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Featured photo: © Magrey & Sons
