The Companies Behind Gucci and Louis Vuitton Are Donating Hundreds of Millions of Dollars to Repair Notre Dame Cathedral
There's a bit of hope after the horrific fire.
The images of a fire engulfing Paris' Notre Dame Cathedral are no doubt heartbreaking, but thankfully, there's a bit of hope included in the news today. A handful of French billionaires, including Salma Hayek's husband, François-Henri Pinault, have promised to donate large sums of money in order to repair the 850-year-old structure.
Pinault is currently the chairman and CEO of Kering — a luxury group that owns major fashion houses such as Gucci, Balenciaga, and Yves Saint Laurent — as well as the president of the holdings company Groupe Artémis, which owns the fine arts auction house Christie's. Speaking with the the French newspaper Le Figaro, he revealed that he and his father will be donating €100 million "to participate in the effort that will be necessary for the complete reconstruction of Notre-Dame," an amount that equals $113 million.
VIDEO: Firefighters Battle Notre-Dame Cathedral Fire
Another person who is vowing to help with reconstruction of Notre Dame? Bernard Arnault, the chairman and CEO of LVMH, AKA the group behind Louis Vuitton and Dior. “The Arnault family and the LVMH Group, in solidarity with this national tragedy, are committed to assist with the reconstruction of this extraordinary cathedral, symbol of France, its heritage and its unity,” the company said in a statement on its website, before revealing its pledge of €200 million ($226 million).
Reuters reports that L’Oreal will be donating $226 million as well.
It's nice to see these large companies coming forward to help restore a piece of history, which means so much to so many people.