At Univers Retail, we like to keep a close eye on innovation. In this series of articles, we'll take a look at some of the big names in retail and their strategies for collaborating with start-ups in a spirit of open innovation.
What are the challenges facing the LVMH group?
The DNA of the world's leader luxury brand is based on a subtle balance between the expertise of the Houses and innovation. "Accelerating the future of luxury" is LVMH's ambition. In this period of uncertainty, the health crisis has proved to be a gas pedal of change for the luxury industry, combining several factors: the rise of more connected consumers together with a collective reflection on the way we consume, and the major development of the global circulation of information. This new reality is forcing industry players to design seamless customer experiences that meet today's social and environmental challenges. To respond to these new challenges, LVMH has chosen to support and collaborate with innovative start-ups through the "LVMH Start-up House" gas pedal. The House of LVMH Start-ups ".
What are the areas addressed by the start-up partners of the "Maison des Start-ups LVMH"?
TOMORROW'S RETAIL EXPERIENCE
> Crobox
Tools to analyze buying behavior and adapt your sales pitch
> 3D Look
Non-contact body measurement solution offering a simple way to digitize measurement capture online and in-store.
> Orbis Holographis
Presentation of products and services in the form of holograms.
ETHICAL AND SOCIETAL PRACTICE
> Facil'iti
Solution for adapting a website to the needs of elderly and/or disabled people
> Matter
Recycles production waste into new sensory and biological materials
> Fairly Made
Library of eco-friendly fabrics to produce items through transparent, committed supply chains
DIGITAL EXPERIENCE
> Booxi
Complete, intelligent online appointment booking solution
> Smartzer
Add a clickable hotspot to video content, enabling brands to transform their videos into interactive shopping experiences
> The Bradery
Platform for selling old collections to a new audience by holding flash sales on Instagram.
How do we work together?
As part of the Viva Technology event, each year LVMH rewards an innovative start-up with the " LVMH Innovation Award ". This prize enables the winning start-up to join the gas pedal based at Station F, " La Maison des Start-ups LVMH ", and to lead emblematic digitalization projects in terms of customer experience. This gas pedal aims to develop and energize collaboration between the Group's Houses and start-ups.
LVMH also relies on an in-house laboratory, "the Retail Lab", to help the Group's Houses find innovative solutions through collaborations with various players. At the same time, leader has developed an initiative halfway between talent development and open innovation. The " DARE Project " (Disrupt Act Risk to be an Entrepreneur) gives group employees the opportunity to express their vision of the future of luxury goods and turn it into a concrete project.