Heaven may be a new e-commerce platform….
It is being alleged that Luxury goods group LVMH will set up a new digital platform to host all of its brands. This comes after efforts from the French company wanting to step up its efforts to capitalize on the sector’s online sales boom. There is no doubt that the internet has become one of the most important growth engines out there. According to The Fashion Law “analysts [are] expecting online transactions to represent 20 percent of all luxury sales within a decade, up from 7-8 percent now.”
LVMH’s luxury good houses such aren’t big on the e-commerce scene. For example Celine as of recently (about a month ago) set up their own instagram account. It is quite odd considering how impactful marketing on instagram is. In addition, Celine have also shunned e-commerce entirely to date, meaning you can’t buy any Celine goods online (unless they’re second hand that is). Givenchy is another pain if I’m quite honest. Using their e-commerce platform to buy any of their goods on their official website is quite hectic considering it is only available on their application which is only avaibale on the app store/ iTunes store. What about those with a Samsung? They only have access to their own version of an app store: the Play Store.
Is Givenchy trying to send them a low-message? Lols… anyone with a Samsung isn’t allowed to buy Givenchy.
With “online sales of 2 billion euros ($2.1 billion) last year equated to 5.3 percent of group revenue, with only select companies under its umbrella offering goods online” it only makes sense for LVMH to move towards this direction. Not only will this “This platform should boost the visibility of the various LVMH brands,” which include Louis Vuitton, Celine, Loewe, Fendi, Givenchy, and Kenzo, among others (see list below), BUT, one of the sources close to the company allege that this new website would also promote other luxury goods brands not owned by LVMH.
Former Apple executive Ian Rogers, hired by Arnault in 2015 to spearhead digital strategy at LVMH will be the one in charge of setting this new e-commerce platform up. Genius. According to the Fashion Law “the company’s new e-commerce site is due to go live in a few months’ time, the sources said. LVMH declined to comment.”
Once again I reiterate, I think heaven may be this new e-commerce platform….
ALERT: SHAMELESS SELF-PROMO: ALERT
Don’t forget to follow me on personal instagram and twitter, where you can stay up-to-date with everything I do – OR follow The Saifest Bet on instagram for exclusive fashion & runway content! Oh, you can also subscribe somewhere on the screen by entering your email address! You get notified whenever I publish a new blog post.
Till next time,