Chanel will be the exclusive private sponsor of the renovation of the Grand Palais in Paris. It will contribute 25 million euros (HK$241 million) to restore the building.
Built for the 1900 Universal Exhibition, the historic site is one of the Europe’s most marvellous historic landmarks. It is set to undergo reconstruction and will boast cutting-edge facilities to better accommodate exhibition galleries.
The project is expected to start in 2020 and end in 2024, in time for the Paris Olympics.
Chanel’s creative director, Karl Lagerfeld, has decorated the Grand Palais numerous times for his ready-to-wear and couture shows.