LVMH to launch multi-brand e-commerce site 24 Sèvres in digital sales push, targeting 75 markets worldwide
Website will feature more than 150 brands, including 20 from luxury goods group’s own stable, and will be the only multi-brand site to sell Dior and Louis Vuitton products
LVMH is launching a multi-brand e-commerce website inspired by its exclusive Parisian department store Le Bon Marché, as the world’s biggest luxury goods group steps up the digital side of its business.
The new website, named 24 Sèvres after the Rue de Sèvres location of Le Bon Marché in the French capital’s chic 7th arrondissement, will offer luggage, fashion goods and cosmetics from LVMH’s own portfolio as well as from brands from outside the group.
More than 150 labels, including 20 from LVMH’s own stable, such as Louis Vuitton, Dior, and Fendi, will be featured.
LVMH has invested several million euros in the venture, its biggest digital initiative 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 markets.
Competing with established rivals such as Yoox Net-a-Porter , MyTheresa, Matchesfashion.com and LuisaViaRoma, it will echo the high-end positioning of the Le Bon Marché store.
It will give international clients “very Parisian choices” in the selection of exclusive products, Rogers says.
“The idea is to be attractive with unique products, not necessarily have a huge offering,” he says.
E-commerce is still a relatively small part of the global luxury goods market, representing 7 per cent of industry sales, but this is expected to rise to 12 per cent by 2020, according to the Boston Consulting Group.
Luxury goods companies face a dilemma as they try 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 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 says.
LVMH’s online sales of €2 billion (HK$17 billion, US$2.2 billion) last year equated to 5.3 per cent of overall group revenues.