fashion and beauty houses donate €500 million after the notre dame fire

The families behind Kering, LVMH, and L’Oreal have pledged to help rebuild the iconic landmark.

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Apr 16 2019, 8:36pm

Photo Ludovic Marin/Getty Images.

It’s now being reported that Notre Dame was “15 to 30 minute away from destruction,” as firefighters formed a wall of water between the blaze and the two gothic bell towers, preventing flames from engulfing them. Thankfully, because of their efforts, there’s something to save, and financial aid has come in the form of donations from the luxury empires that call Paris their home. In news both charitable, and astonishing in just quite how much money it is, François-Henri Pinault, Chief Executive of Kering, which owns Balenciaga and Gucci pledged €100 million ($112.8 million) to the restoration of the UNESCO site. This was swiftly followed by an announcement from Bernard Arnault, chairman of LVMH, pledging €200 million ($225 million), and another from the Bettencourt Meyer family, who own L’Oreal, for a further €200 million. “The Arnault family and the LVMH group would like to show their solidarity at this time of national tragedy, and are joining up to help rebuild this extraordinary cathedral, which is a symbol of France, of its heritage, and of French unity,” Arnault said in a statement. French President Emmanual Macron has announced, “We will rebuild Notre-Dame even more beautifully and I want it to be completed in five years, we can do it.”

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