French luxury group LVMH has devised a web shop called 24Sevres.com, that will focus on its own luxury brands and leave a space for other brands as well. The new online platform will launch on 6 June in seventy countries.
Launch with seventy brands
“The product range will be a selection of the Parisian view on the fashion industry”, the web shop’s general director and founder, Eric Goguey, told French press agency AFP. “The web shop will have both French and foreign brands, including sixteen from the LVMH group. We will launch with a limited fall and summer collection, filled with about seventy brands’ products, but we will expand the website’s product range in September to about 150 brands”, Goguey added.
The web shop will house a lot of famous brands, like its own brands (Vuitton, Dior, Céline, Givenchy, Loewe and Moynat), but also other brands (like Gucci, Prada, Burberry, Chloé, Valentino, Ferragamo, Etro and Marni) and up-and-coming brands (like AMI, Kitsuné, Proenza Schouler and Maison Michel). “No, it was not difficult to convince them: brands want to sell in locations where their customers can be found”, the Paris-based company said.
The website, called “24Sevres.com”, is a reference to the legendary Parisian luxury department store Bon Marché’s address. It will have live video conference capabilities, bringing together the customer with a stylist who has to help him or her with advice, both in French and English. “It is important our service matches the brands’ quality”, Goguey confirmed.
Just the start
“Several million euros” went into the web shop, which is not that much for a company that published a record 37.6 billion euro turnover in its previous fiscal year, a 5 % turnover increase compared to 2015.
This is just the start, according to LVMH, because the group is working on several more projects to boost its online sales. Similarly to its competitors, LVMH hopes to meet the increased consumer demand for digital solutions and it should also be a new source of growth. According to a Boston Consulting Group study, the luxury industry only generates 7 % of its sales online, a number that should at least triple by 2025.