LVMH Bought a €50 Million Villa in Cannes for Brand Events

French luxury group LVMH has acquired a historic villa in Cannes, France, for around €50 million ($52.7 million), to showcase its brands during the city’s star-studded festivals, people familiar with the matter said.

LVMH Moët Hennessy Louis Vuitton SE will use the 12-bedroom property to host exclusive shows and events for its companies, which include Louis Vuitton, Christian Dior and Moet & Chandon, said one of the people, who asked not…