LVMH cancels plans to build research centre near grounds Paris Polytechnic Institute

Paris - The luxury goods group LVMH has decided not to set up its research centre on the Saclay plateau in the Essonne department of France, near the engineering school of the Paris Polytechnic Institute (IP Paris), which had given the green light to the project last November despite opposition from several students. The school announced the news in a statement on Monday.

When contacted by AFP, LVMH said the group was "continuing the research partnership" valued at 2 million euros a year for five years with the engineering school, "but [that] is moving towards a site outside the Saclay plateau for the installation of its research centre".

"Work on sustainable materials, a theme that is part of the project to create a new interdisciplinary centre on materials, will be implemented. Exchanges on the two other research themes identified, namely Data and AI, and Life Sciences, will also continue," the school added on its part.

The project of the world's number one luxury goods company, called LVMH Gaia, aims to eventually bring together 300 researchers on a surface area of 22,500 m³, according to LVMH, which intends to invest more than 100 million euros in the future building.p>

Officially announced in July, the LVMH project on the Saclay plateau had met with opposition from X students and alumni who came together as the ‘Polytechnique is not for sale’ collective.

In its statement on Monday, the École Polytechnique and IP Paris said they were continuing to "develop the innovation park designed to host research and innovation activities, starting with the ongoing investigation of a shared research building project".

The latter said on Monday that it was "delighted" with LVMH's decision in a statement co-signed with Sphinx, an association of students and former students of IP Paris.

"The question of the future of the land remains open and the various associations remain vigilant to ensure that the establishment reviews its land strategy", the authors of the press release added.

As for LVMH, despite the opposition to the project by Bernard Arnault, himself a Polytechnique graduate, the board of directors of the company decided to abandon the project.

One year after Total

A year ago, oil and gas company TotalEnergies group gave up on setting up its new research and development centre on another plot of land also near the Polytechnic school after a demonstration of the school's teachers and students opposed to the project.

As for LVMH, despite the opposition to the project by Bernard Arnault, himself a graduate of the engineering school, the board of directors of the company decided to abandon the project.(AFP)

This article was originally published on FashionUnited.FR. Translation and editing from French into English: Veerle Versteeg.