It´s time for the digital awakening of luxury brands. During the last decade, many market places took the lead of the online fashion industry while centenary luxury houses were reluctant to sell online. On the one hand, some platforms betting for a wide luxury offer (the ones on the top of the pyramid) like Yoox – Net a porter. By the way, we will see how the merge of Yoox and Net a Porter is going to perform. One was quite chaotic, products were from past collections and at a disscount price, and the other, Net-a-porter, was more refined and chic. On the other hand, other market places like Farfetch, who is the “Robin Hood” of niche brands but still needs top luxury brands to engage with luxury customers.
How is LVMH going to manage a platform where different brands from its portofolio are competing to each other? Does it make sense to offer a “conglomerate experience”? Is it going to cross-sell between brands, presenting total looks “LVMH”? And, is 24 sèvres going to offer the complete collection of their brands or just a few categories? Is Kering and other conglomerates going to follow the trend? Many questions arise and brands will have to think carefully about their strategy, pricing, channels, KPIs, experience, amongst others, to succeed in the digital arena.
Below, find a couple of articles to understand what is the coming online platform of LVMH.
Ian Rogers – Chief Digital Officer at LVMH | Source: Dmitry Kostyukov for The New York Times
See their great instagram profile here
Each image is part of a puzzle showing a map of Paris. If you click on it, you will see a new mix of images that compound an exclusive item that belongs to a capsule collection featuring LVMH brands such as Kenzo, Loewe, Fendi, Miu Miu…
Extract from Vogue´s UK article “LVMH Reveals More Details About New Luxury Website” by Scarlett Conlon.
The new site for Le Bon Marché – the luxury department store that the French conglomerate owns – will be called 24Sevres.com, after its Paris address (24 rue de Sèvres) and will be open for business in the second week of June. It will initially focus on womenswear; ship to 75 countries; offer exclusives from 68 brands for the launch; and will sell more than 150 brands, approximately 30 of which will be LVMH-owned, including Dior and Louis Vuitton, marking the first time that the two brands will be available in a multi-brand online platform.
Read more about 24 Sèvres on:
- The New York Times article “LVMH and the Next Big Digital Shopping Experience” by Elizabeth Paton.
- Interview to Ian Rogers from BoF Founder Imran Amed “Inside 24 Sèvres, LVMH’s New Multi-Brand E-Commerce Play | Fashion-Tech, BoF Professional“.
You can find information about other examples of diversification in LVMH on The Fashion Retailer: