The big luxury conglomerate recently announced a start-up programme to support 50 businesses a year in Paris.
France's LVMH is helping projects by upcoming entrepreneurs in the luxury goods space, including a start-up whose software might help detect counterfeits. The owners of Louis Vuitton, aim to support the new businesses by hosting them in a mega-campus where they can collaborate with its in-house brands.
LVMH, the world's biggest luxury goods group, is following in the footsteps of French cosmetics giant L'Oréal in grabbing a corner of Station F, a vast startup incubator in Paris where it offers rent-free space to the startups.
"The idea is to animate and activate those conversations around the things that might affect the luxury industry," said Ian Rogers, who is a former Apple executive who joined LVMH in 2015 as chief digital officer.
Paris is among one of the major European cities bidding to displace London's dominance in the startup scene as BREXIT looms and President Emmanuel Macron pushes a pro-reform agenda to promote business and investment.
Station F was launched last year by French billionaire Xavier Niel, who is also the partner of Delphine Arnault, an executive at Vuitton and daughter of LVMH boss Bernard Arnault.
Burberry has named Riccardo Tisci as its new chief creative officer, he succeeds Christopher Bailey, who stepped down after 17 years from the creative helm. Having spent more than a decade at Givenchy as a creative director, Riccardo left the brand once his contract expired in January 2018. Givenchy is credited with being one of LVMH's most successful luxury brands.
"I have an enormous respect for Burberry's British heritage and global appeal and I am excited about the potential of this exceptional brand,” added Tisci. “I am honoured and delighted to be joining Burberry and reuniting with Marco Gobbetti ( Burberry’s chief executive ).”
Riccardo will direct all of Burberry’s collections from his new London base, and is expected to present his first for the brand in September.
In mid December, TSG Consumer Partners (“TSG”), a leading private equity firm focused exclusively on the branded consumer sector, and Huda Beauty, one of the world's fastest-growing beauty brands, announced that TSG has acquired a stake in Huda Beauty. Ofcourse, the financial terms of the transaction were not disclosed. TSG see Huda Beauty's industry leading digital reach, their amazing global influence and ofcourse best-in-class product offerings as a grounds for joining forces and help lead the brand into the future.
Publishers, Beauty of Fashion report, Sephora are organising an event for the retailer’s most dedicated customers to interact with their prized beauty brands. The event will be called Sephoria House Of Beauty, and will take place on October 21st-22nd in LA with installations from over 50 brands for consumers charged between $100 and $500 to explore and shop.
While Sephora cannot confirm which brands will participate in Sephoria, the retailer will likely draw on the many prestige brands in its portfolio, especially the LVMH-owned ones such as Rihanna’s Fenty Beauty. Sephora is joining a multitude of retailers in creating experiences for customers that go beyond shopping in a conventional store. Sephoria will feature a range of set-ups around the "house" theme, including a kitchen where consumers can “play with ingredient-based skincare,” and a laundry room that is the backdrop for cleansers. When it comes to product, Sephoria’s emphasis will be on limited-edition elements such as exclusive colours, packaging design and personalisation, rather than sales. Yeh said the company doesn’t want the event to overlap with the in-store experience.
The goal with Sephoria is to build community and give customers a fun, interactive experience — “lots of juicy experiences that she’s can snap and share and wow her social community with,” said Deborah Yeh, senior vice president of marketing and brand at Sephora. “We’ve been dreaming about something like this for awhile.
Sephora generated between $4.4 billion and $4.9 billion in sales in 2016, according to Coresight Research (LVMH does not break out Sephora's financials).