LVMH and Accor are reviving the Orient Express brand through a luxury experience joint venture. The partnership recently launched the first of two superyachts. The venture is also developing luxury hotels and restoring the historic Art Deco train.
This strategic pivot targets the high-growth luxury experience market as personal goods growth slows. Accor CEO Sebastien Bazin expects a new wave of billionaires from the AI boom to fuel demand. High-end experience spending is projected to outpace personal luxury goods growth this year.
The partnership includes reciprocal buyout options for both companies in the coming years. Bazin noted an LVMH acquisition is more probable due to the company's scale.