Why do luxury brands establish foundations?

Over three decades, more and more foundations have been launched by different luxury brands (or groups) such as Fondation Louis Vuitton, Fondazione Prada, LOEWE Foundation, etc. The foundations are established to support the fields that match what the brands believe in like art, photography, film production, craftmanship or even science. It is a private organization that has little to do with luxury products, but it helps luxury brands build up their cultural leadership as well as the resource of inspiration.
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00:00 Intro of the episode
00:35 Inspirations from Fondation Louis Vuitton
02:10 The relationship between luxury & art
02:55 The meaning of the foundations
03:33 The claims of the foundations
05:09 The programs from the foundations
06:47 Take aways of launching a foundation
08:47 Outro of the episode