Billionaire Bernard Arnault expands his Parisian museum empire

The French luxury goods billionaire Bernard Arnault is due to open a new museum in Paris, with plans to transform a defunct institution located in the western Bois de Boulogne area.
 
According to the newspaper Le Parisien, the former Muse National des Arts et Traditions Populaires will be converted into a centre for arts and crafts and run by Arnaults LVMH company. The museum is near the Fondation Louis Vuitton building, Arnaults museum for Modern and contemporary art which opened in 2014