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After taking over Tiffany, LVMH continues its jewellery conquest by offering itself the exclusive right to use the name of Vendôme, a town in the Loir-et-Cher, for “any creation of collections and products related to jewellery and watchmaking”, in return for 10,000 euros and jobs.
A world symbol of luxury jewellery for two centuries and an iconic place in Paris, the name Vendôme is already familiar to Louis Vuitton which inaugurated one of its finest boutiques there in 2017, replacing the Italian jeweller Buccellati, now owned by Richemont.
In addition, the world number one has long-standing links with the town. In September, its subsidiary Louis Vuitton opened a leather goods workshop there, in a former abbey in the Rochambeau district, restored by LVMH, which has invested several tens of millions of euros. On the outskirts, a second workshop is under construction for 2021 and has provided a total of 500 jobs.
This operation contributed to the approval of the city council for the brand/name transfer contract. “The town council approved the terms of the transfer contract (…). Out of 33 councillors, all sensitivities combined, there were only two votes against and two abstentions”, said Laurent Brillard, the mayor.
“Vendôme is extremely winning with the arrival of Vuitton. And here we get an extra 10,000 euros for a name they could have used anyway. In the end, between the Regency building and the workshop which is under construction, 500 jobs will be created in the short and medium term”, he confided.
However, this payment to a city for using its name has not gone unnoticed and has even given rise to a great deal of controversy.
“Privatising this word and transforming it into an advertising emblem is a decision we cannot share” expressed the environmentalist opponent Florent Grospart, evoking a “total abandonment” of the city’s name to the LVMH group.
The mayor spoke quickly to clarify the terms of the transfer.
“The town of Vendôme does not transfer its name to Louis Vuitton, a subsidiary of LVMH, but only transfers the ‘Vendôme’ brand on class 14 (from the National Institute of Industrial Property), which simply allows the company to use the name ‘Vendôme’ for any creation of collections or products related to luxury jewellery”.
“To say that Vendôme has been sold for 10,000 euros is an unacceptable shortcut,” he continued. “Moreover, the name +Vendôme+ has been regularly used for years by many brands who have never asked us for the slightest authorisation. There is already a Vendôme hotel, a Vendôme delicatessen, Vendôme cosmetics…”.
Read also > BUSINESS : TIFFANY SHAREHOLDERS APPROVE THE BUYBACK PROPOSAL MADE BY LVMH
Featured Photo : © Louis Vuitton[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
After taking over Tiffany, LVMH continues its jewellery conquest by offering itself the exclusive right to use the name of Vendôme, a town in the Loir-et-Cher, for “any creation of collections and products related to jewellery and watchmaking”, in return for 10,000 euros and jobs.
A world symbol of luxury jewellery for two centuries and an iconic place in Paris, the name Vendôme is already familiar to Louis Vuitton which inaugurated one of its finest boutiques there in 2017, replacing the Italian jeweller Buccellati, now owned by Richemont.
In addition, the world number one has long-standing links with the town. In September, its subsidiary Louis Vuitton opened a leather goods workshop there, in a former abbey in the Rochambeau district, restored by LVMH, which has invested several tens of millions of euros. On the outskirts, a second workshop is under construction for 2021 and has provided a total of 500 jobs.
This operation contributed to the approval of the city council for the brand/name transfer contract. “The town council approved the terms of the transfer contract (…). Out of 33 councillors, all sensitivities combined, there were only two votes against and two abstentions”, said Laurent Brillard, the mayor.
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After taking over Tiffany, LVMH continues its jewellery conquest by offering itself the exclusive right to use the name of Vendôme, a town in the Loir-et-Cher, for “any creation of collections and products related to jewellery and watchmaking”, in return for 10,000 euros and jobs.
A world symbol of luxury jewellery for two centuries and an iconic place in Paris, the name Vendôme is already familiar to Louis Vuitton which inaugurated one of its finest boutiques there in 2017, replacing the Italian jeweller Buccellati, now owned by Richemont.
In addition, the world number one has long-standing links with the town. In September, its subsidiary Louis Vuitton opened a leather goods workshop there, in a former abbey in the Rochambeau district, restored by LVMH, which has invested several tens of millions of euros. On the outskirts, a second workshop is under construction for 2021 and has provided a total of 500 jobs.
This operation contributed to the approval of the city council for the brand/name transfer contract. “The town council approved the terms of the transfer contract (…). Out of 33 councillors, all sensitivities combined, there were only two votes against and two abstentions”, said Laurent Brillard, the mayor.
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