LVMH operates in a world of opulence, high-end fashion, and star-studded partnerships. The French company is the world\u2019s biggest luxury company, and its patriarch, Bernard Arnault, is among the world\u2019s richest men.\u00a0<\/p>\n
That\u2019s why the latest addition to Arnault\u2019s sprawling business empire might seem unlikely\u2014an unassuming Parisian bistro that sells $100 roast chicken and has a 3.5-star rating on Trip Advisor<\/a>.\u00a0<\/p>\n LVMH announced its purchase of Chez l\u2019Ami Louis, a 100-year-old bistro, which the company called an \u201cauthentic Parisian gem.\u201d It\u2019s unclear how big LVMH\u2019s majority stake in the restaurant is, although the bistro\u2019s deep French roots and the culture it represents are why the conglomerate bought it.\u00a0<\/p>\n \u201cLVMH will work to preserve the unique character and family identity of the restaurant and continue to support its French savoir-faire and expertise,\u201d the luxury company said in a press release last week.\u00a0\u00a0<\/p>\n SARAH GOTROT<\/p>\n<\/div>\n Chez l\u2019Ami Louis might not be as flashy as LVMH\u2019s other businesses\u2014think Dior and Tag Heuer\u2014but it\u2019s famous in its own right. Located in the central district of Le Marais, the bistro has hosted Bill Clinton and Martin Scorsese<\/a> in the past.\u00a0\u00a0<\/p>\n \u201c\u2018Chez L\u2019Ami Louis\u2019 has acquired an unprecedented atmosphere and popularity among Parisians, becoming a go-to destination for those seeking an authentic culinary experience in the capital,\u201d LVMH said. <\/p>\n Serving foie gras, french fries and fresh fruit platters, the restaurant gets its produce from small breeders and market gardeners, LVMH said in its release.\u00a0\u00a0\u00a0<\/p>\n Peter Turnley\u2014Corbis\/VCG\/Getty Images<\/p>\n<\/div>\n As a bellwether in the luxury industry and one of Europe\u2019s largest companies, LVMH has more sway than the average company.\u00a0<\/p>\n The purchase of Chez l\u2019Ami Louis reflects the Arnault-owned conglomerate\u2019s broader push to diversify its operations outside of retail. LVMH announced plans to invest in the Orient Express<\/a>, known for its luxurious train journeys originating from Paris, which Arnault said represents \u201cadventure and elegance.\u201d\u00a0<\/p>\n The company also owns high-end hotel groups Belmond and Cheval Blanc in addition to its well-known luxury retail houses. LVMH has been hit by a slowdown in luxury demand<\/a> in recent months, bringing a renewed focus to its other business areas that offer experiences.\u00a0<\/p>\n Given the Paris-based company\u2019s prominent role as a sponsor of the upcoming Paris Olympics, the Arnaults also made it their mission to use the event to raise LVMH\u2019s profile. For instance, Chaumet, a jeweler it owns, is designing the gold, silver and bronze medals for the Olympics this time.<\/p>\n The company is betting on Paris\u2019s image as a global business capital, and Chez l\u2019Ami Louis could help achieve that.\u00a0<\/p>\n An unnamed source told CNN<\/em><\/a> that Arnault has been to the bistro before, and the purchase suggests that the LVMH CEO is keen to preserve Paris\u2019s \u201cidentity and expression.\u201d\u00a0<\/p>\n<\/div>\n![\"Chez](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/06\/chez-l-ami-louis-sarah-gotrot-e1719224643687.jpeg?w=1440&q=75\"\/)
![\"Chez](\"https:\/\/fortune.com\/img-assets\/wp-content\/uploads\/2024\/06\/GettyImages-635968365-e1719223887640.jpg?w=1440&q=75\"\/)