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The reopening of Paris museums this week finally gives billionaire tycoon Francois Pinault the chance to showcase his vast contemporary art collection in the French capital, with works
from stuffed pigeons to slowly melting chairs.
The museum s launch in a converted 19th-century commodities exchange, blocks away from the Louvre Museum, was put on hold twice
owing to the coronavirus pandemic after having suffered earlier planning mishaps, with an initial project abandoned in 2005.
Pinault, 84 – who made his fortune in timber trading before shifting into retail under the group now known as Kering, run by his son – joins rival French luxury goods tycoon Bernard Arnault in trying to stamp his legacy on Paris art scene and landscape, with museums and renovation projects.
Online sales of luxury handbags, shoes and garments have boomed over the past year as the coronavirus pandemic forced retailers to temporarily close their stores.
Groups such as Facebook are keen to make a bigger push into the luxury market and social commerce , but to do so they need to show that their platforms are not a conduit for counterfeiting and are safe for brands, some of which are reluctant to sell their products through third-party players. More than one million pieces of content were removed from Facebook and Instagram in the first half of 2020, based on thousands of reports of counterfeit content from brand owners, including Gucci, the lawsuit statement said.
Apple tends to cater to the higher end of the (US) market; so it might grab a small portion of LG s sales, Gartner analyst Tuong Nguyen said. It s more likely that Samsung inherits a lot of it because both vendors compete across similar markets.
Globally, LG s market share shrank to 2 per cent in 2020, a massive drop from its status as the world s third-largest smartphone maker behind Samsung Electronics and Apple during its peak in 2013.
The company shipped 23 million phones last year, compared with Samsung s 256 million, according to Counterpoint.
Counterpoint analyst Tarun Pathak said LG was mostly competing in the mid-tier, as its flagship phones received tepid market response.