TEXT ALL FIRST MODULE INSIDE LVMH MAY 2024, Prove d'esame di Brand Management

Scarica TEXT ALL FIRST MODULE INSIDE LVMH MAY 2024 e più Prove d'esame in PDF di Brand Management solo su Docsity! 1st module INSIDE LVMH Certificate 21/5/24 First chapter of your learning journey The Luxury discovery The world of LVMH More than 75 Maisons, 6 business sectors, over 213 000 employees across 81 countries, and more than 6,000 stores: LVMH is an exceptional universe. 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 oGer while resolutely looking to the future, always respecting their unique heritage. 2. Delivering excellence Within the Group, quality can never be compromised. Because the Maisons 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 diGerentiates 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 eGiciency 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 Maisons 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 Maisons 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. Moët & Chandon, Krug, Veuve Clicquot, Hennessy and Château d’Yquem are just some of the world-renowned wines and spirits brands that have become synonymous with the most prestigious origins and terroirs. Located in Champagne, Bordeaux, and across a collection of wine Estates around the world in countries such as New Zealand, Australia, Argentina, Spain, India, and China, many of these are centuries-old Maisons with a unique character, which share a strong culture of excellence. Overseen by the division Moët Hennessy, these exceptional champagnes, wines and spirits from around the world come together as a collection of rare brands where heritage and innovation, authenticity and creativity converge. To support future growth and maintain the very high quality that has made the Maisons successful, the Wines & Spirits business sector pursues a dynamic and responsible procurement policy. All the vineyards owned within the division have had sustainable winegrowing certification since 2017, and the Maisons forge partnerships with winegrowers by helping their grape suppliers comply with these certifications.  The latest House in the Wines and Spirits division, Eminente, was launched in 2020. Eminente embodies the rebirth of 19th century Cuban rum, elaborated by César Martí, the youngest Maestro Ronero (Rum Master) of the island and aged 7 years minimum in white oak barrels. Another very recent update to Moët Hennessy's world leading portfolio is the addition of Joseph Phelps Vineyards in July 2022. This acquisition follows Moët Hennessy’s development strategy, which aims to satisfy its consumers and distribution partners’ aspirations with an increasingly diversified and comprehensive portfolio, adding Houses with strong values of excellence, craftsmanship and heritage. 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 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  Fostering excellence both upstream and downstream Vertical integration allows us to control every link in the value chain, from sourcing and production to selective retailing, which means that the image of our Maisons is carefully controlled. Our Business Model is anchored in this meticulous control, making LVMH the only global Luxury Group to oGer such a vast and diversified array of professional opportunities around the world, all the way from when a product is created to when it is handed into clients’ hands. PILLAR 3: Sustaining Savoir-faire  The past lives within us and inspires us, but what motivates us is the future To pursue our long-term vision, we strive to preserve our Maisons’ distinctive identities and excellence. We do this by developing forward-thinking initiatives to transmit savoir- faire and ensure that craftsmanship and creative métiers are valued by future generations.   We constantly endeavour to cultivate the expertise upon which our Maisons have built their legacies. This means we hire and train thousands of new employees each year. The past lives within us and inspires us, but what motivates us is the future: the next generations to whom we have a duty to pass on the torch of excellence. Our role is to equip them with the tools and skills they need to attain it.  PILLAR 4: Organic Growth  Sustaining our success for the long term Organic growth is a key priority for LVMH, and we commit significant resources to help develop our Maisons, and encourage and protect creativity. We know that our employees are the key to this approach, which is why we support their career growth and encourage  them  to  exceed their potential.  Over time, and guided by our long-term vision, we have reaped the rewards of ambitious choices, investments and patient developments, often years in the making. It’s this enduring commitment that sets us apart from the rest. It gives Maisons and employees the time they need to fully express their potential and talent. It drives our ability to adapt and respond to unexpected external challenges. It underpins the powerful resilience of our Group, which as always, has risen (and continues to rise) to the challenge.  PILLAR 5: Creating Synergies  Sharing resources to be stronger The sharing of resources on a Group scale is part of our DNA. It creates intelligent synergies while respecting the individual identities and autonomy of our Maisons.  It means that the combined strength of the LVMH Group is leveraged to benefit each of its Maisons.  On the ground, this translates to sharing best practices. It helps us harness expertise and optimize the Maisons’ processes to boost their potential. 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 diGerent 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% . To read more about the company's performance in 2023, refer to the following page: New record year for LVMH in 2023. The floor is yours! The uniqueness of the Luxury industry. Before discovering the Luxury Industry and its key stakes for the upcoming years, please take 30 minutes to answer these two questions: 1. What are the main characteristics of the Luxury Industry, and what makes this sector unique? 2. According to you, what are the three most important factors influencing the future of Luxury?* *You can browse on the internet to find some examples of each chosen factor shaping Luxury. First, how to define Luxury? Anne Michaut from HEC Paris tackles this question, while sharing the 7 essential characteristics of Luxury. Luxury is quite elusive in nature: when you see a Luxury product, how do you know it is a Luxury product? In this video, Anne Michaut, Associate Dean for Education Track and Pedagogy and the Director of the LVMH Academic Chair at HEC Paris, covers the common definitions and understanding of Luxury as an elusive concept, and shares the 7 essential characteristics that help measure the “luxuriousness” of an oGering. Now deep dive into key figures and trends of the Luxury Industry Discover more about Bain & Company's annual study. Joëlle de Montgolfier, Executive Vice-President for Bain & Company’s Global Consumer Products, Retail and Luxury practice, shares her analysis on the trends shaping the Luxury sector of today and tomorrow. Main factors influencing the future growth of the Luxury sector Key topics to be optimistic about. Erwan Rambourg, top ranked Luxury analyst and renowned author of books about the future of Luxury, shares optimistic trends and mechanisms that are likely to support the industry’s growth for the next decade. Here, Erwan Rambourg shares an optimistic view about the next decade of growth in the Luxury sector and highlight the key topics that will influence that growth. Let's focus on the major stakes shaping the future Renowned professors and passionate LVMH Talents will guide you into our next topic. Luxury brands must both address new consumer expectations... Emanuela Prandelli, from Bocconi University, uncovers how the Luxury world is embracing new sales models. In which way have consumers started reshaping their approach to consumption to keep satisfying their need for novelty without compromising the future of our planet? To address this question, Emanuela Prandelli, Associate Professor for the Department of Management and Technology at Milan’s Bocconi University, talks about how Millennials and Generation Z are disrupting traditional sales models, redefining the way Luxury goods are consumed, and forcing the Luxury sector to rethink its sales approach.