Bernard Arnault, France, Frank Gehry, La Maison LVMH/Arts-Talents-Patrimoine, Louis Vuitton, LVMH, Musee National des Arts et Traditions Populaires, Paris

Gehry pledged $167m to renovate French museum

French tycoon Bernard Arnault is expanding his art museum empire with plans for Frank Gehry to renovate a disused public building near his Louis Vuitton Foundation on the outskirts of Paris.

The Musee National des Arts et Traditions Populaires, built in 1972 but sitting vacant since 2005, is to be turned into an arts and crafts centre in a $167m revamp.

Arnault (pictured left), who controls luxury group LVMH, told a news conference alongside President Francois Hollande, Paris Mayor Anne Hidalgo and Gehry that he viewed the new project as a “cultural start-up”.

“We will bring new life to a building that has been sleeping for some time. It will create a great cultural hub and a good partner to the Foundation,” Gehry (pictured right) added.

Named “La Maison LVMH/Arts-Talents-Patrimoine”, the renovated building will include concert and exhibition halls and open in 2020.