PARIS, 2015-10-29 — /EPR Retail News/ — Innovation is deeply embedded in the DNA of the LVMH Group, providing a source of continued success and authenticity over the years. As a core value of LVMH, innovation inspires the Group’s houses in their quest for excellence, creating an ongoing dialogue between tradition and modernity. Several emblematic initiatives illustrate the pioneering spirit that guides us.
“Our business model is anchored in a long term vision that builds on the heritage of our Houses and stimulates creativity and excellence. This model drives the success of our Group and ensures its promising future,” says Bernard Arnault, Chairman and Chief Executive Officer of LVMH, who notes that the Group’s success springs from a subtle balance. Innovation is a pillar of our business model. By drawing on an infinitely rich past and savoir-faire, LVMH Houses continue to blend tradition and modernity to create products that spark desire among our customers.
The history of LVMH Houses is replete with boundless innovation. Louis Vuitton created the Monogram canvas in the late 19th century to fight counterfeiting. Also in the 19th century, Aristide Boucicaut, invented modern retail commerce at Le Bon Marché department store, introducing fixed prices, labels, regular sales at specific times of the year, product returns, and other innovations. This quest for excellence is more dynamic than ever today.
“Our culture is focused on curiosity, change, opportunity, innovation and creativity, says Toni Belloni, Group Managing Director. “We want our brands to stay true to their origins, but reinvent them so they remain relevant to our current and future customers.”
Encouraged by Bernard Arnault, this focus on innovation requires the mindset of a start-up across an international group that is the world leader in the luxury industry and counts over 120,000 employees.
This week we invite you to discover how LVMH Houses engage with innovation. Jean-Claude Biver, Chairman and CEO of Tag Heuer, discusses how the watchmaker developed its connected watch, which will be unveiled on November 9 in New York. A much-awaited annual event, the MH Innovation Awards let Moët Hennessy celebrate the exemplary innovation drive of its Houses.
Innovation has always been deeply rooted in the DNA of Sephora, whose Innovation Lab is scaling up to mobilize staff and generate new ideas. Lastly, to better valorize the significant volume of data it has collected and mobilize technical talents, Louis Vuitton organized the first ever Hackathon in the luxury industry.