Situated on the outskirts of Paris, the Foundation Louis Vuitton occupies 126,000 sq ft in the Jardin d'Acclimatation, and houses 11 galleries containing the corporate art collection of LVMH Moët Hennessy Louis Vuitton. Set to open on 27 October, the locale will also host special commissioned exhibitions, as well as one-off performances and events in its auditorium.

Jean-Paul Claverie, Arnault's advisor and manager of LVMH's philanthropic activities, said: "It will express the artistic, cultural and emotional values, as well as the art of living, promoted by Bernard Arnault and the LVMH group, but it is truly a charitable foundation, devoted to the public as a whole."

The first exhibition on display will focus on the development of the new space, which was designed by architect Frank Gehry, and will run until 5 Jan 2015.