LVMH is launching a multi-brand e-commerce website inspired by its exclusive Parisian department store Le Bon Marche, as the world’s biggest luxury goods group steps up the digital side of its business.
The new website, named “24 Sevres” after the Rue de Sevres location of Le Bon Marche in the chic 7th arrondissement, will offer fashion, cosmetics and luggage products from LVMH’s own portfolio as well as brands from outside the group.
Overall more than 150 labels, including 20 of LVMH’s own stable such as Louis Vuitton, Dior, or Fendi, will be featured.
The size of the investment amounted to several million euros and marks the biggest digital initiative taken by LVMH since it hired former Apple music executive Ian Rogers in 2015 to craft its digital strategy and capitalise on the luxury sector’s online sales expansion.
LVMH, controlled by French billionaire Bernard Arnault, said the new site would go live on June 6 in more than 70 countries.
Competing with established rivals such as Yoox Net-a-Porter , MyTheresa, Matchesfashion.com or LuisaViaRoma, it echoes the high-end positioning of the Le Bon Marche store.
LVMH has already tapped into the increasing importance of online social media by setting up LVMH Luxury Ventures to invest in start-up luxury goods projects.
Until now each LVMH brand has had its own separate digital strategy, with some brands such Fendi and Kenzo putting significant resources into this area while other brands such as Celine had no E-commerce website of their own.
The new website will complement the offering available on the respective websites of the LVMH brands. Other major fashion brands such as Prada, Gucci or Valentino will be sold on the site as well as Maison Margiela, seen as a more cutting-edge label, or others such as Kitsune or APC.
LVMH’s online sales of €2 billion ($2.2 billion) last year equated to 5.3 percent of overall group revenues.
Courtesy CPP-Luxury.com