LVMH-Owned Paris Match Will Buy French Photo Agency Abaca

LVMH, the French luxury conglomerate, has announced that its magazine Paris Match will acquire a controlling stake in the French photo and video agency Abaca. This move is part of LVMH's ongoing strategy to expand its presence in the media industry. Abaca is a renowned French agency that specializes in providing high-quality photographic and video content, particularly in the areas of fashion, entertainment, and news. The acquisition will allow Paris Match to strengthen its visual storytelling capabilities and enhance the quality of its content. The financial details of the transaction have not been disclosed, but the deal is expected to strengthen LVMH's media portfolio, which already includes publications such as Les Echos and Investir. The move also reflects the growing importance of visual media in the luxury industry, as brands seek to engage with their audiences through compelling and immersive content.