By Ben Voyer and Perrine Desmichel

The reopening of Notre-Dame in Paris has recalled debate over the €200 million contribution of France’s Bernard Arnault, the CEO of the LVMH luxury group, to its restoration. Announced in the hours after fire devastated the cathedral in April 2019, the donation surprised many but aligned with Arnault’s track record as a cultural benefactor.

From founding the Louis Vuitton Foundation in 2014 to regular multi-million-euro donations, including €10 million to Restaurants of the Heart, a French charity providing food aid, in 2023, Arnault’s patronage has become almost synonymous with the LVMH brand. But what do Arnault and his luxury empire stand to gain?

Luxury and culture share deep roots. Luxury brands thrive on artistry, craftsmanship and a commitment to enduring values that transcend fleeting trends. Companies like Chanel, Hermès and Louis Vuitton invest heavily in the skills of artisans, ensuring signature creations such as iconic leather goods that reflect precision and embody tradition. This convergence of intention and skill brings luxury companies closer to the art world.

But there’s another dimension: the concept of secular immortality. By associating their names with historic landmarks or cultural institutions, patrons like Arnault aim to achieve a kind of symbolic permanence. In the way that US tycoons have given their names to buildings or university departments, Arnault’s ties to Notre Dame and the Louis Vuitton Foundation cement his legacy within French cultural heritage.

This strategy is about embedding oneself into collective memory, ensuring one’s contributions endure far beyond the here and now. Through donations and acts, Arnault and others not only demonstrate wealth and taste but also claim a form of cultural immortality.

Arnault’s role as a modern-day Medici highlights a dynamic in which art and business intertwine. Historically, patrons like the Medici family of Italy or King Francis I of France – a monarch who hosted Leonardo da Vinci – used art sponsorship to signal sophistication and power. In the same vein, Arnault’s appearances with artists like Jeff Koons enhance his reputation as a cultural connoisseur.

While art and business have always gone hand in hand, their relationship can be seen as a marriage of convenience. This is reflected in the research of Yajin Wang, Alison Jing Xu, and Ying Zhang. Their study compared consumers leaving an art gallery with those who had not viewed works by Monet or Van Gogh, and found that the first group displayed less interest in nearby luxury boutiques. The researchers explained that exposure to art can bring individuals back to aesthetic and selfless values, rather than materialistic ones.

When patronage transforms into US-style corporate foundations, it often sparks controversy in Europe. Arnault, France’s wealthiest man, is no longer viewed solely as an art enthusiast but as an investor who stands to profit from the art world – particularly through mechanisms such as tax exemptions. This raises questions about the integrity of his philanthropic efforts.

In the French dictionary, the donateur (donor) is a benefactor acting in the general interest, prioritising others’ welfare above personal gain. In Arnault’s case, his patronage could embody selflessness or a strategic effort to compete with past and present US billionaires such as Henry Ford, John D Rockefeller or Bill Gates, whose foundations have sometimes been seen as tools for influence or personal enrichment. What risks does Arnault take in mirroring these iconic figures?

These questions are linked to a broader cultural clash. The LVMH group, under Arnault’s leadership, has adopted strategies heavily influenced by US practices. Its flagship brands, Louis Vuitton and Dior, have become conspicuous markers of social success worldwide. For many young consumers, a Louis Vuitton canvas bag is a rite of passage – a first luxury purchase and a celebration of newly acquired social status.

However, the perception of ostentatious luxury varies by culture. In the United States, such displays are celebrated as symbols of success, while in Europe, luxury consumption tends to favour understated elegance. Brands like Hermès exemplify this ethos, focusing on craftsmanship and artistry over designer branding. Arnault’s unapologetically bold approach to luxury has thus made him a polarising figure in France.

His ability to blend American-style boldness with French tradition was evident during the 2024 Paris Olympics. As an official sponsor, LVMH products were omnipresent, from the opening to the closing ceremonies.

Some observers credited LVMH with making the Paris Olympics a glamorous and trendsetting event, showcasing Arnault’s “soft power” in promoting French influence on a global stage. However, his role was less contentious because it remained within the framework of private sponsorship, aligning with expectations of corporate discretion in cultural and national affairs.

Arnault’s patronage strategy ultimately straddles two traditions: the conspicuous American style, where philanthropy serves as a marker of professional success, and the Franco-Italian tradition, which values understated and respectful sponsorship. However fragile the balance may be, it is in the best interests of France’s richest man to preserve it.

Ben Voyer is Cartier Chaired Professor of Behavioural Sciences, Full Professor, Department of Entrepreneurship, ESCP Business School and Perrine Desmichel is Assistant Professor of Marketing, ESCP Business School. This article is republished from The Conversation under a Creative Commons licence