The truth of the rumor that LVMH and Gagosian combine
Larry Gagosian finally told the truth of the rumor.
Rumors that LVMH, the King of Fashion Kingdom, will acquire the world's No. 1 gallery, Gagosian, began to circulate at the last Freeze London Art Fair, and even media reports began to appear. However, Gagosian denied it and announced a new board meeting on Nov 16. The board of directors consists of about 20 outsiders and insiders, including Delphi Arnault (daughter of Chairman LVMH Bernard Arnault), Evan Spiegel (Snapchat producer), Jenny Shavile(painter), and Sophia Kupola (film producer).
In response, Gagosian said it aims to operate galleries in non-traditional methods and presents virtual exhibitions or future directions in the future.
Louis Vuitton Moe Hennessy will eventually exert its most significant influence, if not the acquisition. Accordingly, the board was formed to protect the artist's free creative activities.
There are already many changes, but it is predicted that the way the gallery operates will change faster. Art will now become one of the lifestyles. As you can see just by looking at Twitter's business direction, if the social network platform can be equipped with a wallet that trades cryptocurrency and becomes a bank, it can also be a gallery through NFT transactions. If you connect directly to the virtual or metaverse exhibition hall here, everything can be done at once with one wearable device. Just as avatars buy clothes to wear at the Metaverse Dior store, it will not be long before the actual work is delivered home and NFT when they purchase pieces from the Metaverse Gallery. Wal-Mart is already conducting a trial run.
The good news is that the pace of change is so fast now that the larger the size slows down. So a small-scale private brand that can move lighter than a big business has been given an enormous opportunity. I'm shaking my hands in a white cube; medium-sized galleries will disappear.