The Business Of Fashion logo
The Business Of Fashion logo
  • Latest
  • Professional
  • Professional
  • Beauty
  • Careers
  • Education
  • Live Events
  • Community
  • Fashion Week
  • Podcasts
  • Video
Luxury
Share
Comment
By Reuters May 10, 2017 16:34

News & Analysis

LVMH Confirms Launch of Multi-Brand Fashion Site

Share
Comment
By Reuters May 10, 2017 16:34

Launching in June, LVMH’s 24 Sevres will enter a fast-growing yet highly competitive luxury e-commerce space with fashion, cosmetics and luggage products from the group’s own portfolio as well as other brands.

LVMH's new e-commerce site 24 Sevres
LVMH's new e-commerce site 24 Sevres
Share
Comment
By Reuters May 10, 2017 16:34

PARIS, France — 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.

It will give international clients "very Parisian choices" in the selection of exclusive products, Rogers told Reuters.

"The idea is to be attractive with unique products, not necessarily have a huge offering," said Rogers.

E-commerce is still a relatively small part of the global luxury goods market, representing 7 percent of industry sales, but this is expected to rise to 12 percent of industry sales by 2020, according to the Boston Consulting Group.

Luxury goods companies face a dilemma over trying to reach young Internet-savvy shoppers while preserving the sense of exclusivity that drives up the value of their products.

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 as 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, Rogers said.

Big 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.

By Dominique Vidalon; editor: Sudip Kar-Gupta and Keith Weir.

Related Articles

Report: LVMH to Launch Multi-Brand E-Commerce Site

BoF Exclusive | LVMH to Launch Digital Lifestyle and E-Commerce Platform

What Fashion Can Learn from Music

TRENDING ON BoF
1

Is Net-a-Porter’s Unconventional Prada Deal the Future of Wholesale?

2

Why Estée Lauder Is Shutting Down Becca Cosmetics

3

Margaret Zhang Is Vogue China’s New Editor in Chief

4

Why Estée Lauder Is Finally Acquiring Deciem

5

Condé Nast Can Learn From Netflix

6

High Stakes at Milan Fashion Week

7

Fashion Goes Green to Raise Capital

8

Is Victoria’s Secret Too Big To Fail?

9

Duelling Visions for Online Luxury in Mytheresa and Farfetch’s Latest Results

10

Young Chinese Are Criticising Consumerism. What Does This Mean for Fashion?

1

Condé Nast Can Learn From Netflix

2

Young Chinese Are Criticising Consumerism. What Does This Mean for Fashion?

3

Duelling Visions for Online Luxury in Mytheresa and Farfetch’s Latest Results

4

ByteDance To Pay $92 Million to US TikTok Users

5

Rethinking Rental in a Crisis | VIDEO

6

Klarna Valued at $31 Billion After US Growth Stoked Investors

7

#BoFLIVE: The Future of Buying

8

Mall Values Plunge 60% After Reappraisals Triggered by Bad Debt

9

Global Fashion Group Outlines Growth Strategy

10

K-Pop Star Kai Partners With Gucci for Capsule Collection

1

Self Editor Carolyn Kylstra Heads to Google

2

Moncler Acquires the Remaining 30% of Stone Island

3

Duelling Visions for Online Luxury in Mytheresa and Farfetch’s Latest Results

4

#BoFLIVE: The Future of Buying

5

Mall Values Plunge 60% After Reappraisals Triggered by Bad Debt

6

Rethinking Rental in a Crisis | VIDEO

7

ByteDance To Pay $92 Million to US TikTok Users

8

Klarna Valued at $31 Billion After US Growth Stoked Investors

9

Condé Nast Can Learn From Netflix

10

How to Sell Skin Care at Every Price

What's your opinion?

People
  • Ian Rogers
  • Retail
Organisations
  • LVMH Moët Hennessy - Louis Vuitton
  • Retail
  • Luxury
  • E-Commerce
  • Fashion
Article topic
  • E-Commerce
  • Luxury
  • Retail
  • Fashion
  • Paris
About
  • About Us
  • Memberships
  • Newsletters
  • Press
  • Masthead
Contact
  • Work With Us
  • Contributors, Tips & Stories
  • Media & Press Requests
  • Feedback
  • Contact Us
Media
  • Advertising & Sponsorship
Connect with BoF
  • The State of Fashion 2021

Site Map © 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy Policy.