LVMH Launches Its Own Luxury E-Commerce Site, 24 Sèvres
LVMH – the French multinational conglomerate and the world’s largest luxury group – last week announced further details on its own retail e-commerce site launching this Summer. 24 Sèvres will represent an extension of the department store Le Bon Marche, which is already owned by the LVMH group and takes its name from the store’s location in Paris’s upmarket 7th arrondissement.
The LVMH group owns 70 luxury brands including Fendi, Christian Dior, Givenchy and Tag Heuer and 24 Sèvres has seemingly been designed to complement each brand’s individual online store and digital presence. On top of LVMH’s mainstay brands, more than 150 other labels will be available on the site. The online store will also offer exclusive designer collaborations, with a 77-piece limited-quantity capsule collection, including items from Chloé, being the first of its kind.
24 Sèvres will join other luxury e-tailors like Net-a-Porter, Yoox, FarFetch and Matches Fashion in what marks a direct move towards a stronger digital presence for the traditionally retail store-based group. Differing from the likes of Net-a-Porter, however, 24 Sèvres will focus on new-wave visuals and merchandising techniques, including online styling sessions, as opposed to editorial content.
“Our clients are highly sophisticated and always in search of creativity and innovation,” said Bernard Arnault, chairman and CEO of LVMH. “With the launch of 24 Sèvres, we are offering them a truly differentiated online experience built on our unique expertise at Le Bon Marché in Paris. Shopping at Le Bon Marché is a special and unmissable experience for both local and international clienteles. With 24 Sèvres, our clients can now enjoy this unique feeling every day and night, worldwide.”
Nevertheless, the move into luxury e-commerce is a play that comes with its own risk, despite LVMH’s scope and size. While Net-a-Porter and Yoox have enjoyed great success, other e-retailers have found it more difficult to break into the luxury e-commerce space, reporting low engagement levels and retail stores continuing to outperform their online counterparts.
24 Sèvres goes live on June 6. Until then, you can follow 24 Sèvres here and on Instagram for clues on what’s to come. 24 Sèvres will be available to ship to more than 75 countries.