LVMH's Bernard Arnault Pours over $1 Billion USD into La Samaritaine Renovation

LVMH's Bernard Arnault is spending over $1 billion USD on the renovation of French department store La Samaritaine, as Bloomberg reports. The LVMH-owned, Hong Kong-based DFS Group has been tapped to fill retail space in a bid to win over the coveted market of Chinese luxury shoppers.After acquiring La Samaritaine in 2001 for a reported sum of €225 million EUR (approximately $249 million USD), LVMH made plans to renovate the historic store, which was originally constructed by Frantz Jourdain in...