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After months of waiting, the board of directors of the Polytechnique school has accepted the sale of a piece of land to the LVMH group, to create a research laboratory.
Despite protests, the institution’s board of directors today validated the project of the French luxury goods leader, located on the Saclay plateau in Palaiseau (Essonne). An article was published last September on the website of the newspaper Le Monde by Polytechnique students, who protested against this future new research center planned by Lvmh.
This decision paves the way for the sale of this 30,000 square meter site to LVMH, which wishes to create a global research center dedicated to sustainable and digital luxury. By 2026, it wants to build a 22,000 square meter building, where 300 employees and researchers will be centralized, whose goal will be to work on the protection of the planet and luxury. The amount of the operation would exceed 100 million euros, according to the group of Bernard Arnault.
Despite an agreement, there is still some reluctance
Students opposed to the transfer had created an association Polytechnique is not for sale! According to them, the vote of the board of directors had to be a “negative signal towards the project of LVMH“.
Among the voters, four people out of twenty-four voted against and one member abstained: “This is not usual within its board of directors, which is accustomed to plebiscites”, says Matthieu Lequesne, spokesman for the collective.
On the eve of the meeting, the association informed the members of the board of directors that it wished to consult a lawyer for “failure to inform the board”. It could also initiate an appeal to the administrative court.
This afternoon, Eric Labaye, president of the IPP and Polytechnique, will hold a press conference.
Read also >LVMH: A new project that doesn’t meet with unanimous approval
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After months of waiting, the board of directors of the Polytechnique school has accepted the sale of a piece of land to the LVMH group, to create a research laboratory.
Despite protests, the institution’s board of directors today validated the project of the French luxury goods leader, located on the Saclay plateau in Palaiseau (Essonne). An article was published last September on the website of the newspaper Le Monde by Polytechnique students, who protested against this future new research center planned by Lvmh.
This decision paves the way for the sale of this 30,000 square meter site to LVMH, which wishes to create a global research center dedicated to sustainable and digital luxury. By 2026, it wants to build a 22,000 square meter building, where 300 employees and researchers will be centralized, whose goal will be to work on the protection of the planet and luxury. The amount of the operation would exceed 100 million euros, according to the group of Bernard Arnault.
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After months of waiting, the board of directors of the Polytechnique school has accepted the sale of a piece of land to the LVMH group, to create a research laboratory.
Despite protests, the institution’s board of directors today validated the project of the French luxury goods leader, located on the Saclay plateau in Palaiseau (Essonne). An article was published last September on the website of the newspaper Le Monde by Polytechnique students, who protested against this future new research center planned by Lvmh.
This decision paves the way for the sale of this 30,000 square meter site to LVMH, which wishes to create a global research center dedicated to sustainable and digital luxury. By 2026, it wants to build a 22,000 square meter building, where 300 employees and researchers will be centralized, whose goal will be to work on the protection of the planet and luxury. The amount of the operation would exceed 100 million euros, according to the group of Bernard Arnault.
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