The French luxury giant LVMH has just bought the name of the city of Loir-et-Cher Vendôme, for the tidy sum of 10,000 euros and in exchange for the creation of jobs in the town.
LVMH buys an emblematic name
The name Vendôme has a certain cachet in the world of luxury and to be sure of having control over this prestigious name, the LVMH group has gone to great lengths and bought it from the city of Loir-et-Cher, which is the holder of it. Thus, Vendôme ceded its name to LVMH against the modest sum of 10,000 euros and the promise of job creation on the soil of the town.
The mayor of the city Laurent Brillard announced the news via his Facebook account “Yesterday, the Municipal Council approved the terms of the contract for the sale of the brand” Vendôme ”between the City and the company Louis Vuitton Malletier SA. Only two votes against, out of 33 municipal councilors, were expressed attesting to the wide support of the Municipal Council for the project. This contract only grants the company the use of the name “Vendôme” for any creation of a collection or products related to luxury jewelry. “
A redemption that does not suit everyone
If the mayor of the city seems satisfied with this agreement with the luxury group, recalling that LVMH had promised the creation of jobs in the municipality “We are pursuing a winning partnership for our city, in the continuation of the investments already made by the group LVMH with the creation of 500 jobs ”. Some members of the opposition are indignant that such a decision could have been voted.
This is the case of an elected ecologist who recalls that it is an outright sale of the name Vendôme and not a short-term rental ” This is not a temporary sale, a license, or an operating agreement, but a definitive transfer to a very large multinational for 10,000 euros. ”