Pledged donations from French billionaires, companies and ordinary citizens for ...
PARIS - Pledged donations from French billionaires, companies and ordinary citizens for the restoration of fire-ravaged Notre-Dame cathedral are approaching 900 million euros after just two days, a reflection of the landmark’s resonance in the national psyche.
The first major donation to Notre-Dame came from Francois-Henri Pinault, the billionaire head of luxury goods group Kering that owns fashion brands Gucci and Saint Laurent. Brand and reputation experts said the quick response by some of France’s most recognizable corporate titans made sense, especially since the disaster involves a national symbol.
Palmer said that even from a non-marketing point of view, early offers of support could be beneficial for a company’s political positioning. All three firms are broadly supportive of President Emmanuel Macron and want to be seen as helpful with backing for his calls to rebuild. LVMH - which had benefited from large tax breaks to build the Louis Vuitton Foundation in western Paris - dismissed the notion it was merely trying to boost its image.
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