LVMH’s online sales in 2016 were $2.2 billion—but that tidy sum represented only 5.3 percent of the luxury conglomerate’s overall annual revenue.
It’s a reality LVMH is looking to change, in part with the launch of a new multibrand online retail channel called 24 Sèvres.
The e-commerce site, which will launch June 6 in 70 countries, was inspired by LVMH’s swanky Parisian department store, Le Bon Marché (its very name nods to the Rue de Sèvres location of Le Bon Marché).
The site, according to Reuters, will offer fashion, cosmetics, and “luggage products” from around 150 brands: LVMH’s own portfolio, which includes Louis Vuitton, Dior, Gucci, Prada, Maison Margiela, and Fendi, as well as brands not owned by the company.
The investment in the e-commerce channel, which will go head-to-head with virtual luxury sellers including Yoox Net-A-Porter and Matchesfashion.com, “amounted to several million euros, and marks the biggest digital initiative taken by LVMH since it hired former Apple music executive Ian Rogers in 2015 to craft its digital strategy and capitalize on the luxury sector’s online sales expansion,” according to the article.
Rogers told Reuters that the site will give shoppers “very Parisian choices,” and added, “The idea is to be attractive with unique products, not necessarily have a huge offering.”
Top: Louis Vuitton bag (Image courtesy of LVMH)