In a recent acquisition, French luxury conglomerate LVMH has expanded its empire by purchasing a majority stake in Chez L’ami Louis, a renowned Parisian bistro. The company, headed by Europe’s wealthiest man Bernard Arnault, described the 100-year-old restaurant as an “authentic Parisian gem.” LVMH stated in a press release that it aims to maintain the unique identity and family heritage of the bistro, while supporting its French expertise and savoir-faire. The deal’s value and the size of LVMH’s stake were not disclosed.
Known for its signature dishes like roast chicken, crispy fries, and sizzling snails, Chez L’ami Louis has welcomed prominent figures such as Bill Clinton, Martin Scorsese, David and Victoria Beckham, and even received praise from Gwyneth Paltrow’s lifestyle company, Goop. Sources familiar with the deal revealed that the bistro sources its ingredients from small breeders and market gardeners who have had a long-standing relationship with the restaurant.
Despite multiple attempts, CNN was unable to reach Chez L’ami Louis for comment. A source close to the deal mentioned that Arnault himself has dined at the bistro and is dedicated to preserving aspects of Paris’s cultural heritage. In 2019, LVMH and Arnault donated €200 million ($226 million) towards the reconstruction of Notre Dame after a devastating fire, emphasizing their commitment to preserving historic landmarks.
There are concerns that when historical owners of culturally significant venues like Chez L’ami Louis depart, new investors may alter the establishments in a way that strays from their original identity. With an estimated net worth of $199 billion, Arnault ranks as the world’s third-richest individual. Over the years, LVMH has expanded its portfolio by acquiring luxury hospitality companies like Belmond in a $3.2 billion deal and making a strategic investment in the Orient Express earlier this month.
