LVMH Moët Hennessy Louis Vuitton will reportedly launch a multi brand e-commerce site in May and offer all of its 70 brands on the site.
According to an article on The Financial Times, LVMH, parent company of Louis Vuitton, Dior, Céline, and more, will launch a multi brand e-commerce site in May. The company will offer all of its 70 brands on the website.
The site will be part of Le Bon Marché, a French department store acquired by LVMH in 1984. Products from brands not owned by LVMH are said to be available.
It is currently not known whether the site will be wholesale or a marketplace. Wholesale, however, seems more likely, according to an article on The Business of Fashion.
Regardless, the launch of an e-commerce site would make sales at the company increase. That is, if the brand has an e-commerce exclusive on brands that retailers like Barneys New York and Net-A-Porter don’t. Net-A-Porter currently does not carry Dior, Céline, or Louis Vuitton. The new site would work well for customers wanting to shop for those brands on one site.
LVMH had a 5% increase in revenue to €37.6 billion ($40.2 billion) and a 6% increase in profits to €7 billion ($7.1 million) in fiscal 2016. Profits and sales at the company’s retailers, including Sephora, DFS, and Le Bon Marché increased the most at 7%. Those retailers are, as the Business of Fashion says, multi brand retailers.
All of LVMH’s brands have their own e-commerce site or sell through retailers like Net-A-Porter. Céline, however, just barely joined Instagram last week and announced plans to launch e-commerce this year.
It has not been said when in May the e-commerce site will launch.
LVMH has declined to comment on the report.
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