Luxury goods giant LVMH is heading a €60 million (US$72 million) plan to turn the 157-year-old Jardin d’Acclimatation in Paris into one of France’s top amusement parks.

The multinational luxury-goods conglomerate has been helping manage the park since 1984, holding an 80 per cent stake in a partnership with theme-park and ski-resort developer Compagnie des Alpes. The park offers rides, play areas, horseback riding, workshops and events.

Paris officials last year renewed LVMH’s concession for the 18ha park in the west of the city, opening the way for a renovation of the garden and its attractions. The concession contract runs for 25 years.

Work has already started and will continue until May 1. There will be 17 new attractions, some with a steampunk theme.

Compagnie des Alpes and LVMH, controlled by Bernard Arnault, want to raise annual visitor numbers to about 3 million by 2025 from the present 2 million. This would position the attraction behind Disneyland Paris but ahead of Parc Astérix.

“Our goal is for Jardin d’Acclimatation to rank second or third among theme parks in France,” says Compagnie des Alpes head of development Delphine Pons.

Early this year Arnault unveiled plans to renovate a disused public building near his Louis Vuitton Foundation, which is next to Jardin d’Acclimatation. Vacant since 2005, the Musée National des Arts et Traditions Populaires was built in 1972. The billionaire aims to turn it into an arts and crafts centre in a €158 million revamp by architect Frank Gehry.