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Presentation In this first course, you will discover the world of LVMH and get an overview of the luxury industry.
- Unlock LVMH, the world leader in high-quality products and services. From our business sectors to our iconic Masons, we will give you a first glimpse of the unparalleled LVMH ecosystem and our unique business model. Time to complete this section: approximately 1.5 hours
- Get the keys to understand the luxury industry. We cannot talk about LVMH without delving into the Luxury industry, of which the Group is the leader. This section focuses first on the definition of luxury, and provides an overview of important figures and trends. Then, you will consider specific insights on key industry stakes, such as forecasting shifting consumer expectations, the orientation towards personalization, digital transformation, innovation as a key asset to succeed, and a specific focus on the Chinese market. Time to complete this section: approximately 3.5 hours
- Test your knowledge: A 10-question quiz to assess your understanding of LVMH and the Luxury industry. Time to complete this section: approximately 0.5 hour. The quiz will only cover the material of this course. Once you finish the quiz, keep in mind that your progress should be marked as "COMPLETED" to unlock the following Course.
- Timing: This course takes more than five hours to complete. You will have access to different content formats, including articles, videos, and podcasts to facilitate your overall learning experience. Do not worry, you can complete this course at your own pace and time. Dear learner, At LVMH, we are committed to transmit our passion, knowledge and savoir-faire to the next generations of talents. This learning program is designed to deep dive into the uniqueness of the Luxury Industry and cultivate the essential knowledge and skills that will help you navigate the next step of your career. Through these 4 courses, you will gain valuable insights into the trends and key challenges shaping the Luxury industry today and tomorrow. Furthermore, you will have the privilege to uncover the behind-the-scenes of our teams all around the world who are building the future of our Maisons. You will access exclusive content curated by Luxury experts, including LVMH and our Masons teams, as well as renowned professors from around the world. But before you deep dive, let's go through some key information to ensure a smooth learning journey:
- Release of Course 1: May 21
- Release of Course 2, for learners who already completed Course 1: May 28
- Release of Course 3, for learners who already completed Course 2: June 4
- Release of Course 4, the last course, for learners who already completed Course 3: June 11
- Release of final assessment for learners who completed all four courses: June 18
- Deadline to complete the final assessment: July 18 (6 PM Paris Time) In every course, you will find two quizzes: one midway through and one at the end. To successfully pass each quiz, you must achieve a minimum score of 70%. You can retake these quizzes as many times as necessary. Upon completing all four courses, you will gain access to the final assessment. To obtain the Certificate, you must score at least 70%. Please note that you can attempt the final assessment only once. First chapter of your learning journey - the luxury discovery Introduction to the luxury industry and LVMH We are entering the world of LVMH and the Luxury Industry. LVMH: its unique and diverse ecosystem, its values and solid business model with a long-term vision have enabled the Group to position itself as the leader in the luxury industry. The world of LVMH: more than 75 Maisons, 6 business sectors, over 213000 employees across 81 countries and more than 6000 stores: LVMH is an exceptional universe. The world leader in luxury products: Any description of the LVMH group usually begins with these words. Founded in 1987, the LVMH Group is now home to 75 exceptional Maisons, many of which are centuries old. Each one of them cultivates excellence across six very different business sectors:
- wines and spirits,
- fashion and leather goods
- perfumes and cosmetics
- watches and jewelry
- selective retailing
- other sectors with media, hospitality and more Making us the only luxury group rooted in such a variety of businesses. The foundation of our success is our more than 213000 passionate talents (employees). They represent more than 190 nationalities, hailing from a variety of backgrounds. We are proud at LVMH to have four generations at work with an average age of 37. They combine the energy of youth with the expertise that only experience brings. 71% of our talents are women and over 55% of them are working in retail. For all our talents, the LVMH group offers a unique ecosystem of unparalleled savour-faire and creativity, conveying emotions and providing an unlimited playground, whatever they’re looking for in their career. We offer limitless opportunities for:
- those who are passionate about the finest materials,
- as well as those who are enthusiastic about beautiful products (integration)
- those who are passionate about hospitality (integration)
- those who are passionate about the journey (journey)
- those who want to be where the business beats (savoir-faire)
- those who want to be at the heart of the product (savoir-faire)
- those who want to join multi-centenary brands and contribute to reinventing them every day (innovation & creativity)
We challenge you when we integrate environmental imperatives of biodiversity, climate change, transparency, circularity at the very heart of our business strategy with the LIFE360 program LVMH initiatives for the environment, which aims at elevating the environmental performance of LVMH and its Maisons ( environmental exemplarity ). We challenge you when we protect the partners who work every day to enable our Maisons to express their creativity with LVMH Métiers d’art ( revival ) and we challenge ourselves and our suppliers un terms of ethics and compliance with a solid code of conduct. We challenge you by perpetually looking for creativity and innovation and by supporting innovators throughout the world, which is why we launched the LVMH Innovation Award. We challenge you when we encourage you to push back the limits of what you though was possible to develop projects that have never been seen before ( new grounds ). We connect you to one of the world’s most creative and innovative communities. We connect through places, moments, channels to come together, share and grow. We connect you to create collective moments and communities to allow our talents to share ideas and best practises within or across métiers, geography and area of interest. We connect you to create places to encourage confrontation of ideas in collaboration with startups via the acceleration program at La Maison des Startups. But we also connect you to the world around us to share your passion. For example, with the Journées Particulières, an event to open the doors of our Maisons to the public and showcase the diversity of our métiers and savoir-faire. We support you by giving the resources to help you grow and exceed your potential. We support you when we foster career development and we offer you the opportunity to change professional environments, while remaining within the Group ( mobility ). We support you when we encourage you to develop ideas on your own and by giving you the means to bring entrepreneurial projects to life with the open innovation initiative dare: disrupt, act, risk to be an entrepreneur. We support talents and inclusion for all and celebrate diversity in all its forms. A commitment we’ve reinforced in 2019 when, with some of our Maisons, we signed the UN’s standard of conduct for business on tackling discrimination against LGBTI people. We support you and we free everyone’s ambition regardless of gender. We support female talents by improving equality and promoting career development opportunities with the EllesVMH initiative (gender equality). We support you when we build on the Group’s Power and resources to scout new talents for our Maisons. We di it via shared programs such as INSIDE LVMH, a groundbreaking worldwide initiative aimed at educating students and early career professionals by immersing them into the LVMH ecosystem. To illustrate our promise to talents, we are thrilled to be sharing with you a short film manifesto.
The Values of LVMH At LVMH, we are all driven by four key values to craft the future together:
1. Being creative and innovative Creativity and innovation are part of LVMH's DNA; throughout the years, they have been the keys to our Maisons' success and the basis of their solid reputations. These fundamental values of creativity and innovation are pursued in tandem by our Group's Maisons as they focus on achieving the ideal balance between continually renewing their offer while resolutely looking to the future, always respecting their unique heritage. 2. Delivering excellence Within the Group, quality can never be compromised. Because the Masons embody everything that is most noble and accomplished in the world of fine craftsmanship, they pay extremely close attention to detail and strive for perfection: from products to services, it is in this quest for excellence that the Group differentiates itself. 3. Cultivating an entrepreneurial spirit LVMH's dynamic momentum is inspired by an entrepreneurial spirit at every level of the organization. We have been entrusted with the heritage of the exceptional entrepreneurs and creative talents who founded our Maisons, and we have kept a decentralized organization to maintain the pragmatic agility that encourages efficiency and swift responsiveness. While LVMH may be the world leader, we have retained the spirit of a startup where entrepreneurial challenges are intimately tied to creativity and a never-ending quest for the highest quality. 4. Being committed to positive impact Every action taken by the Group and its employees reflects our commitment to ethics, corporate social responsibility and respect for the environment. They drive our Maisons' performance and ensure their longevity. Firmly convinced that truly desirable products can only come from sustainable businesses, we are committed to ensuring that our products and the way they are made have a positive impact on our entire ecosystem and the places we operate, and that our Group is actively working to build a better future. Discover the uniqueness and diversity of our ecosystem ... 6 business sectors and over 75 Maisons True to tradition, each of our Masons builds on a strong legacy while focusing on the exquisite calibre of its products: timelessness, heritage, strong brand codes, DNA, and unique savoir-faire. What sets our Masons apart is their ability to achieve the seemingly impossible balance between the past, present and future. They continue to delight and amaze today with their contemporary relevance. In this chapter, you will deep dive into each of our 6 business sectors - Fashion & Leather Goods, Wines & Spirits, Perfumes & Cosmetics, Watches & Jewelry, Selective Retailing, and Other Activities, as well as into some of our Maisons. Focus on wines & spirits Exceptional brands that each cultivate their own uniqueness.
For the following months to come, the Wines & Spirits division has major strategic priorities:
- Pursue value-enhancing strategy
- Expand production capacities to ensure sustainable growth
- Develop direct sales to end-customers
- Further improve efficiency of distribution in key markets
- Accelerate efforts to protect the environment , in particular in supply chains and packaging Focus on Veuve Clicquot: The ride from grape to glass Founded in 1772 in Reims (France), for the past 250 years, Veuve Clicquot has been pushing the boundaries of champagne inspired by Madame Clicquot's audacity, inventive spirit and societal commitment. In 1805, Madame Clicquot unexpectedly became a young widow. At just 27 years old, with skill and grace, she took the reins of the champagne House, which she led driven by her vision, taste for excellence and inventive spirit. Making Veuve Clicquot champagne has always been a creative act , requiring unique expertise grounded in a love for Pinot Noir and the art of aging. From harvest to shipment, Veuve Clicquot is inspired by the Mason's longstanding motto, “ only one quality, the finest”. In the video, the Veuve Clicquot winemaking team, Lison (Wine Educator), Marie (Winemaker) and Antoine (Vineyard Development Manager), gives the lowdown on making their famous champagne, step by step. Every harvest is unique and every year the challenge remains the same: to create consistency of style and quality , from picking the finest grapes in the vineyard, to aging the bottled blend in chalk cellars. Focus on fashion & leather goods Maisons that combine creativity with timelessness. Preserving an identity and roots, whilst at the same time constantly reinventing themselves in order to appeal to their contemporaries, has always been the "raison d'être" of the Maisons in LVMH's Fashion & Leather Goods sector. Over the years, this division has been enriched with younger Masons that also allow creative talents to express themselves. Working with the best designers , while respecting the spirit of each brand , is one of our strategic priorities. Our creative directors promote the Maisons' identities, and are the artisans of their creative excellence and their ability to reinvent themselves. In order to guarantee a fitting environment for their exceptional products, Masons in the Fashion & Leather Goods sector strive to master their distribution: in this way, they offer their clientele unique customer experiences.
Focus on Fendi: How the Maison is perpetuating its success through craftsmanship Founded by Adele and Edoardo Fendi in Rome in 1925, over the years Fendi has emerged as a Maison renowned for its craftsmanship and innovation deeply linked to its Roman roots. Today, more than 90 years later, Fendi is synonymous with tradition, experimentation and daring creativity. In this article, the Maison's CEO and Chairman Serge Brunschwig explains some aspects of the company's savoir-faire and his vision for its future. What's the key to good craftsmanship? It's know-how, it's having great designers and artistic directors, and it's storytelling. What makes good storytelling? Authenticity. People want real stories - beautiful stories that show that something is real and not invented. The customer puts value on understanding these stories and their relative products. How do you keep clients interested in your products? Product innovation. We have people in our teams who are always looking for new ideas. They are artists and craftsmen, and they are our two famous artistic directors - Kim Jones and Silvia Fendi - who are focused on what's next and how they're going to surprise again. Are Millennials & Gen Zers important to the brand? Yes. Luxury exists today because it is relevant, so the challenge is staying relevant - and "millennials and Gen Zs." are important to this. But we will soon need to find another term to speak to the next generation - to let them know that the craftsmanship that exists today is anchored in history, but can still be modern. What does modern craftsmanship involve? Talking to a new generation of people and inventing a new generation of products to go with it. Incorporating new savoir-faire... We always base ourselves on the same,
Alter-CareTM. A new approach that supports caring for ourselves and Mother Earth in perfect harmony. Rooted in nature, with Stella's vegan and cruelty-free principles at its heart, this 'conscious Luxury' skincare line is natural, effective, and responsible. Focus on Benefit Cosmetics In 1976 , twin sisters Jean & Jane Ford opened their first beauty shop in San Francisco. Thanks to their playful vision of beauty, powered by laughter and fun, they pioneered a true cosmetic revolution. Today, Benefit is known worldwide for its feel- good products and services. Get an exclusive look into the inner workings of one of the world's most innovative and fun beauty brands. Christie Fleischer, CEO of Benefit Cosmetics will discuss the company's commitment to corporate social responsibility, and offer invaluable advice on teamwork, active listening, and empathy. Get to know Benefit’s business model Beauty was inspiring to the CEO and Benefit is a brand that’s so welcoming and engaging and really has unique positioning. It’s a group that has so many aspirational group. It can take four years to test and create a mascara. The secret of Benefit is that they are very authentic. They make no apologies for our brand and they stay really true to that. They are very consumer-centric, from what products to make to how put it on social media. They prioritise team. So brand, customer, innovation and team are the things that drive Benefit to success. They have four categories of business that are important to us: brows, pores, lashes and face-colours.
They are problem solvers: they look to find something that a consumer wants them to solve and that’s how they go about making sure that they’re making the best solution to that. They have more than 5000 brow and beauty experts around the world to help the customers. They will never stop to be authentic and to innovate themselves. All about the benefit brand The secret to the success of benefit the brand is that they go always left when the world goes right. The mission is to ignite joy. Benefit is the perfect blend of innovation and fun. CSR is who we are Benefit’s philosophy is diversity and inclusion: everyone can be who they are. They are focused on recruitment. They do right not only for people but also for the environment: minimal packaging, post consumer recycled materials, environmental impact audit. Christie’s career tips What would you say to young people who are starting out in their careers? And what skills and qualities do you think are the most important to succeed? The most important thing to me is to find the things that give you energy and be honest with yourself about the things that don’t, because there isn’t really a correct clear path to get there and I do firmly believe that you will be successful at the things that bring you energy and it will propel you. That is incredibly difficult to be successful at the things that don’t give you energy. From a skill set perspective, of course there are hard skills that are required for different types of jobs but I think, generally speaking, teamwork, active listening, curiosity, those are the things that I think will drive you to success in the long term. So trust your gut. It will be right most of the time. And don’t worry too much about the small things. There’s always different challenges that may arise throughout somebody’s journey and path, everyone having a different one of course. So what are some of the challenges that you’ve faced and how do you overcome those times? It’s hard for us to sit here and not acknowledge the collective challenge we all faced, which was the global pandemic. I think being clear on vision, concise on communicating what that is, is the path through conflict. The challenges never go away, they just look different over time. All you must do is to pause, be clear about your actions, concise about communicating that and don’t do it on your own. Empathy and strength are not in conflict each other. Learning is an active role you have to take when you are the CEO but you want to continue to be better.
linked to motor racing and the division of time into infinitely small units, but its aura extends well beyond this arena. TAG Heuer has spearheaded innovations that have left their mark on history and still define the foundations of the watchmaking industry today. In the video, discover how each Swiss-made watch exudes the Maison's know-how and high precision standards. Focus on Selective Retailing Our customer-focused strategy. The Selective Retailing Maisons in the LVMH Group share the same objective: to transform shopping into a unique experience. Specialist product selection, upgrading of stores and services, constant innovation, digitalization and personalization of relationships, these are the key drivers for their daily activities. Operating in Europe, the Americas, Asia and the Middle East, our Maisons are active in two spheres:
- retail designed for international traveler customers (travel retail), with
DFS and Miami Cruiseline;
- and selective retailing concepts represented by Sephora, the most innovative
name in the world of beauty, and Le Bon Marché Rive Gauche, the department store with a unique atmosphere located in Paris. Focus on Le Bon Marché: The world’s first department store What a story! In 19th-century France, the advent of innovative technology and new ways of thinking revolutionized every part of life, from architecture and medicine, to dining and retail. Founded in Paris in 1852, Le Bon Marché was at the heart of this
transformation, progressing—under the masterful reins of owners Aristide and Marguerite Boucicaut—from a simple novelty shop on Rue du Bac into the world’s first Grand magasin (department store) - “a new kind of store to thrill all the senses”. Along the way, not only would it generate commercial models copied the world over, but also supply chain and sales norms still relevant in today’s hyper-digitalized society. Did you know Le Bon Marché was the first French retailer to offer fixed prices? Until Le Bon Marché, the norm was to haggle. When Boucicaut came up with a fixed-price model, word spread that the sellers at Le Bon Marché could be trusted. In addition, entry into the store was free, with no obligation to try, and you could touch the products. A revolution! Did you know Aristide Boucicaut was the first French entrepreneur to constantly diversify the offer? In 1882, the store had 35 departments; by 1887 it had 74. Merchandise came from all over France: silk from Lyon, lace from Calais, wool from Roubaix, and drapes from Sedan - cities whose emblems are still visible on the building’s façade today. Did you know Le Bon Marché was the first to champion low profit margins? Boucicaut convinced his partners to lower prices, preferring to sell more of an item for less and regularly renew stock than sell goods at high prices for a lower turnover. It was daring for the era, but it worked. And it broke the established model of sales. Did you know Le Bon Marché was the first to introduce mail order? In 1867, the Boucicauts invented the catalogue, allowing the company to penetrate people’s homes and increase sales. The catalogue was such a hit that it influenced fashion all over France and abroad, thrusting the image of the elegant Parisian into the public psyche. Did you know Le Bon Marché was a forerunner of home delivery? In the 19th century, culture slowly changed, and women were increasingly allowed to shop unaccompanied. Through his home delivery service, Boucicaut further emancipated his female clients by enabling them to move around without their bags, and thus their male, bag-carrying chaperones. Did you know Le Bon Marché initiated the self-service stand? With its multiple floors and endless departments, the Bon Marché became a place to see and be seen, with people often spending the entire day in the store. Boucicaut wanted their time there to be as agreeable as possible, and so set up the self-service stand, where clients could succumb to temptation at their own rhythm. Did you know Le Bon Marché contributed to the modern changing room?
Focus on Cheval Blanc - An invitation to the world's most sought-after destinations to discover a new Art of Emotion Celebrating a delicate alchemy between tradition and innovation , local architecture and timeless elegance, the 5 Cheval Blanc hotels celebrate bold design and contemporary inspirations with local roots and craftsmanship. Since the opening of its first Maison in 2006, Cheval Blanc has developed unique properties with an unparalleled sense of detail. In a warm, caring atmosphere, every Maison takes the utmost care in creating fulfilling and memorable moments for guests and their families. A new vision of Luxury hospitality Cheval Blanc redefines prestigious French hospitality with a collection of one-of-a- kind Maisons in exclusive destinations, uncompromising in privacy and experience. Cheval Blanc creates a new residential experience in the world's most exclusive destinations through the construction of new properties or redevelopment of iconic sites. The Maison shares a powerful entrepreneurial spirit, an acute sense of detail and dedication to an haute-couture approach to hospitality. Here are 3 key highlights to understand the uniqueness of Cheval Blanc in the world of hospitality:
1. The Art de Recevoir, a Cheval Blanc signature With infinite creative freedom to design ultra-personalised experiences, long-time friends, loyal guests, and new Cheval Blanc devotees are surprised and delighted, with a thougthful approach to service, which gives a unique character to each stay. Sunrise bootcamp, Mini-Moke picnics on secret beaches, surprise birthdays organized by Le Carrousel, a bespoke visit of the City of Lights, or a first track on the Alpine Slopes.
2. Where craftsmanship meets creativity Inspired by the spirit of LVMH and its love for contemporary innovation, Cheval Blanc revisits the codes of ultra-Luxury hospitality with bold modernity. This unique approach to service leads to made-to-measure works of art and design, transforming every Maison into a living gallery. This celebration of creativity and quest for constant reinvention extends from art and design, to thoughtful service gestures aiming to make our guests' stays that much more exquisite. 3. A careful attention to exclusivity A careful attention to exclusivity is deeply rooted in the design and service standards of each of the 5 Maisons. With spacious surroundings, purposefully limited inventories, dedicated facilities such as private pools or treatment rooms, secret entrances and acute organisation of flows, Cheval Blanc prioritises every guest’s individual desire for privacy, with a highly personalised approach to culinary arts, wellness, and entertainment. …of which success is driven by a solid and unique Operating Model anchored by 6 pillars It’s the business model that drives a company’s success and ensures its future. At LVMH, our 6-pillar model is anchored in our long-term vision and family spirit - one that builds on each Maison’s heritage, and stimulates creativity and excellence. Did you know the Group’s vocation is to ensure the development of each of its Maisons , while respecting their identity and their autonomy? It does this by providing all the resources each Maison needs to design, produce and market their products and services defined by excellence and the highest quality. PILLAR 1: Decentralized Organization Promoting risk-taking and perseverance LVMH’s organization is agile and decentralized, which encourages efficiency and responsiveness. Our specific structure and operating principles ensure that each Maison can be autonomous and responsive at all times – something that helps us to g e t c l o s e t o o u r c u s t o m e r s, a n d e n s u r e s t h a t r a p i d , e f f e c t i ve and appropriate decisions can be made. We entrust all our employees with significant responsibilities, which stimulates individual initiatives , and motivates teams by encouraging them to show true entrepreneurial spirit. By promoting pragmatic thinking and the ability to motivate teams, we challenge ourselves and our talents to achieve, continuously push the boundaries and never shy away from risk-taking and perseverance - and our decentralized organization approach promotes this. PILLAR 2: Vertical Integration
One way we facilitate this is by connecting our talents to one of the world’s most creative and innovative communities. We connect through themes, places, moments and channels to come together, share and grow. We create collective moments and communities of interest to allow our talents to share ideas and best practices within or across the different professions and geographic areas. PILLAR 6: Balance across business segments and geographies Withstanding the impact of shifting economic factors Our Group has the resources to sustain regular growth thanks to the balance across its business activities and a well-distributed geographic footprint. This balance means that we are well-positioned to withstand the impact of shifting economic factors. Here are some figures: 81 countries and more than 6,000 stores. Revenue of 86.2 billion euros in 2023 (+9% compared to 2022), distributed across geographies: Asia (excl. Japan) 31%, Japan 7%, United States 25% , Europe (excl. France) 17% , France 8% and Other Markets 12%. Test
- Which of these Maisons is the oldest?
- Tag heuer: 1860
- Zenith: 1865
- Hublot: 1976 - Chaumet: 1780
- **What are the key drivers for selective retaining Maison?
- Constant innovation**
- Standard product selection **- Personalisation of relationship
- Transforming the shopping in a unique experience**
- Which fashion house within the group was founded in 1846?
- Louis Vuitton: 1854
- Berluti: 1895 - Loewe: 1846
- Rimowa: 1898
- How many stores does LVMH manage?
- 1500 stores
- 5000 stores
- 3000 stores - More than 6000 stores
- LVMH operating model has six pillars, which one is not correct?
- Centralised organisation (because is decentralised organisation)
- Sustaining savoir-faire
- Creating synergies
- Vertical integration
- Organic growth
- Balance across business segments and geographies
- How many employees work at LVMH and how many are women?
- 156,000 employees, out of which 80% are women
- 165,000 employees out of which 30% are women - 213,000 employees out which 71% of women
- How many Maison’s are part of the LVMH group?
- Which business sector at LVMH generated the highest share of revenues in 2023?
- Selective retaining
- Wines and spirits - Fashion and leather goods
- Perfumes and cosmetics
- Which Maison of the perfume and cosmetics division is the oldest?
- Acqua di Parma: 1916
- Guerlain: 1828
- Make up for ever: 1984 - Officine universelle buly: 1803
- **Which is the oldest wine estate and youngest brand in the wines and spirits division?
- Domaine des lambrays (oldest) & Eminente (youngest)**
- Hennessy (oldest) & Ao Yun (youngest)
- Veuve cliquot (oldest) & Krug (youngest)
- Domaine des lambrays (youngest) & eminente (oldest)
