The world watched in horror as flames ravaged Notre-Dame de Paris on the eve of April 15th. The cathedral, Head of the Catholic church in France, is a monument of Gothic architecture over 850 years old and the most visited site in the country. 400 firefighters battled throughout the evening as the fire, which appeared to begin on the under-renovation rooftop, engulfed the cathedral, leaving only the frame and the bell towers. Under the roof, lied a maze of planks consisting of 1300 oak trees, many dating from the original build. French president Emmanuel Macron spoke from the scene, pledging to rebuild the cathedral, a jewel of French culture. Kering CEO François-Henri Pinault has since stated the Pinault family will offer 100 million Euros to help rebuild the cathedral. The money will come from Artemis, the family’s investment arm.
“My father [François Pinault] and I have decided to immediately release 100 million Euros from Artemis to participate in the efforts required to completely rebuild Notre-Dame,” he announced in a statement. The Pinault family represents the third largest fortune in France. Kering, which is led by Françis-Henri Pinault since 2003 owns luxury fashion brands including Gucci, Yves Saint Laurent, Alexander McQueen, Bottega Veneta, Boucheron, Brioni, and Pomellato.
This morning, LVMH, headed by the Arnault family announced it would gift 200 million Euros to help rebuild the French monument as well as offer its creative teams, architectural and financial talents to aid in the rebuild along with collecting funds. LVMH owns some 70 luxury brands including Louis Vuitton, Christian Dior, and Fendi.