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The most prestigious art galleries in the world are, according to an insistent rumor, in the process of being bought by the LVMH group. A new demonstration of the close association between luxury and art.
According to a rumor launched a little over a week ago by Dagospia, an Italian magazine, Bernard Arnault is in discussions to buy the Gagosian galleries, with Larry Gagosian, their eponymous owner.
Larry Gagosian, of Armenian origin, is a well-known patron of the American art world and elsewhere. He owes his reputation to the staging of museum-quality contemporary art exhibitions. His galleries are true masterpieces and not just places to buy. Founded in 1980 in Los Angeles, Gagosian Galleries now has 19 branches and two boutiques around the world.
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The rumor of scale excites the curious and questions the world of art and luxury. According to art critic and curator Kenny Schachter, the news is true and negotiations have already been concluded.
The relationship between these two worlds of art and luxury is becoming increasingly close. François Pinault, CEO of Kering, plays an important role in the art world. An important collector of contemporary works, he has bought the famous auction house Christie’s, the Palazzo Grassi in Venice, and has become a patron of the Punta Della Dogana (also in the Serenissima), as well as the Bourse du Commerce in Paris. Sites steeped in history that he has transformed into showcases for contemporary art.
Also an art collector and director of the Louis Vuitton Foundation, Bernard Arnault, owner since the end of 2021 of the prestigious art book publishing house Citadelles & Mazenot, the CEO of Lvmh does not want to be outdone.
Buying the Gagosian chain would mean controlling more than 100 world-renowned artists, as well as having the opportunity to launch young prodigies. If the rumor proves true, a major art gallery will be part of a multinational company for the first time.
But many questions remain: what will be the future of Gagosian Galleries in the hands of Bernard Arnault? At what price will it be sold? And finally, the most important, how will the art business evolve under the influence of these new patrons?
Read also >LVMH commits to reducing energy consumption in China
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The most prestigious art galleries in the world are, according to an insistent rumor, in the process of being bought by the LVMH group. A new demonstration of the close association between luxury and art.
According to a rumor launched a little over a week ago by Dagospia, an Italian magazine, Bernard Arnault is in discussions to buy the Gagosian galleries, with Larry Gagosian, their eponymous owner.
Larry Gagosian, of Armenian origin, is a well-known patron of the American art world and elsewhere. He owes his reputation to the staging of museum-quality contemporary art exhibitions. His galleries are true masterpieces and not just places to buy. Founded in 1980 in Los Angeles, Gagosian Galleries now has 19 branches and two boutiques around the world.
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The most prestigious art galleries in the world are, according to an insistent rumor, in the process of being bought by the LVMH group. A new demonstration of the close association between luxury and art.
According to a rumor launched a little over a week ago by Dagospia, an Italian magazine, Bernard Arnault is in discussions to buy the Gagosian galleries, with Larry Gagosian, their eponymous owner.
Larry Gagosian, of Armenian origin, is a well-known patron of the American art world and elsewhere. He owes his reputation to the staging of museum-quality contemporary art exhibitions. His galleries are true masterpieces and not just places to buy. Founded in 1980 in Los Angeles, Gagosian Galleries now has 19 branches and two boutiques around the world.
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