Louis Vuitton to Develop Private Island Resorts

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods recently announced plans to open two luxury property developments on islands in Oman and Egypt under the Cheval Blanc brand. The projects, developed in collaboration with Orascom Hotels and Development, will cost $100 million, with Orascom providing $40 million and the rest coming from other investors and banks, Orascom Chairman and founder Samih Sawiris said in a text message. They are expected to open in 2012, Paris-based LVMH said in an e-mailed statement.

Louis Vuitton to Develop Private Island Resorts