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LVMH (Louis Vuitton & Moët Hennessy) and Alibaba Strengthen Ties to Boost Tech Presence in China 🌟🎉 Exciting news from the world of luxury and technology! 🌐💎 LVMH, the world’s largest luxury group, has announced plans to deepen its partnership with e-commerce titan, Alibaba Group Holding Limited. 🚀🛍️ This collaboration aims to elevate the luxury experience in China by harnessing Alibaba’s cutting-edge cloud technologies and AI-powered retail innovations. 🌤️🤖 This partnership isn’t new. The French luxury group and the Chinese e-commerce giant first joined forces in 2019. 🤝 By leveraging Alibaba’s capabilities, LVMH aims to enhance its omnichannel, data, and tech presence in China. 📊📲 This move underscores the growing focus of high-end luxury brands on improving online shopping experiences, even as they continue to invest in increasingly sophisticated physical retail stores. 🏬💡 The timing is significant. As China’s largest tech company by market share, Alibaba is currently focusing on its core businesses, including e-commerce in its domestic market. 🇨🇳🎯 LVMH has approximately 30 brands on Luxury Pavilion, the high-end site on Alibaba’s Tmall shopping platform. This highlights the luxury group’s embrace of digital channels. 📱💻 Digital services on Tmall’s Luxury Pavilion include 3D product displays, virtual try-ons, and live streaming. 🕶️👠👗 As part of the agreement, LVMH will also gain access to technology from Alibaba Cloud. ☁️🔒 This will help the luxury group improve supply chain processes and gain deeper customer insights. 📈🔎 Stay tuned for more updates on this exciting partnership! 📰🔔 #LVMH #Alibaba #LuxuryRetail

THE FUTURE OF RETAIL IS TODAY. Redefining shoppers’ luxury retail experience, Alibaba Group and LVMH announced an extended partnership, harnessing Alibaba Cloud's cutting-edge technologies in cloud computing and AI. This collaboration aims to pioneer retail #innovation and deliver exceptional, tech-driven luxury experiences for LVMH's customers worldwide, including those based in #China on Tmall. This announcement of extending the global partnership follows the debut of integrating Tmall in Tiffany & Co.’s and CHAUMET’s luxury retail journey. To date, LVMH has successfully introduced around 30 prestigious Maisons who are partnering with Tmall Luxury Pavilion to leverage Alibaba's digital capabilities for engaging experiences such as 3D product displays, virtual try-on, and #livestreaming. Both parties have also expanded the collaboration on various #omniretail initiatives, including digital recreation of renowned luxury venues, product debuts, membership programs, and personalized consultations. This strategic move further extends the LVMH luxury experience to millions of Chinese shoppers. Thanks again to Stephane Bianchi, Franck LE MOAL Gonzague de Pirey Sophie Louvancour Mickaël Soria Lan Luan for your great support to make those announcement & extended partnership happen. 🚀 Learn more: https://lnkd.in/gh8qbu2t #AlibabaGroup #LVMH #AI #RetailInnovation #Alibaba #CloudComputing #TmallLuxury #LuxuryOmniretail #ultrapersonalisation #web3CRM Janet Wang Manuela Brega Rachael Jiang Selina Yuan Esmie WANGHUI

On May 22 2024, the France-based global luxury fashion giant LVMH announced the deepening of a 2019 partnership with Mainland China-based e-commerce and #fintech firm Alibaba Group. As part of the expanded partnership, the pair will leverage Alibaba's cloud and AI capabilities to boost LVMH's presence in China. LVMH currently has approximately 30 brands on Luxury Pavilion, the high-end site of Alibaba’s Tmall shopping platform. Traditionally, luxury #fashion brands have been hesitant to buy into the e-commerce segment as the purchase process of #luxury goods is oftentimes a crucial aspect of the overall purchase decision. Brands were reluctant to associate themselves with conventional e-commerce offerings which are often synonymous with quick, convenient, and fuss-free shopping, elements that are not historically associated with luxury shopping. However, the pandemic and the increasing ability of e-commerce platforms to provide more refined and personalised shopping meant that luxury fashion majors are now increasingly expanding their online offerings. On top of just featuring LVMH’s products, Alibaba will provide shoppers with enhanced services such as 3D product displays and virtual try-ons, providing the extra personalised shopping experience that are more associated with big-ticket purchases such as luxury fashion. The expanded agreement will see Alibaba Cloud support LVMH with enhancements of the luxury fashion conglomerate's supply chain processes and customer insights. BMI Country Risk & Industry Analysis Fitch Solutions

  The Chinese market is projected to account for 35-40 per cent of the global luxury goods market by 2030, according to Bain & Company. Despite the obvious challenges of the past couple of years, the market is showing increasing resilience and from talking to execs over the past few weeks, it remains a top priority to continue to develop further. Bigger stores and increased localised marketing initiatives have seen domestic spending grow, with stronger appetite among the younger generation, and a shift towards sustainable and ethical goods.   Critically 60% of China’s population is below thirty years of age and in 2022, accounted for €210bn in the personal luxury market. Accordingly, brands are ensuring they exist where customers buy and the recent LVMH and Alibaba Group announcement to extend their partnership leveraging AI-powered innovations in retail and on-line through Tmall is exactly that. Stephane Bianchi, Group Managing Director of LVMH, said: “Alibaba is already a key partner for our Maisons and for the Group. The reinforcement of our partnership will help us to further accelerate our omni-channel business growth, and to keep on leveraging the transformative capabilities of cloud and AI technologies, along with Alibaba’s world-leading expertise in ecommerce operations. Our forward-looking collaboration will deliver unparalleled experiences to our clients throughout their high-end shopping journey.” You have to admire the absolute relentless way LVMH conduct their business. Partner with the best and double-down on market opportunities, especially at a time when rival Kering is publicly struggling. There is zero resting on their laurels and the appetite to innovate is significant - Nike could learn a lesson here. The capabilities of this partnership with Alibaba Group will give LVMH access to gains access to the e-commerce giant’s cutting-edge cloud and AI capabilities. Tiffany & Co. and CHAUMET are the latest of the thirty LVMH Maisons who are partnering with Tmall Luxury Pavilion to leverage Alibaba Group’s digital capabilities for engaging experiences such as 3D product displays, virtual try-on, and livestreaming. The deal deepens their omni-channel capabilities including digital recreation of renowned luxury venues, product debuts, membership programs, and personalized consultations. This is a long-term play. China has always rewarded longevity and LVMH’s continued investment now, will pay back handsomely. Whilst the consumer spending in China is down, there are strong signs of the return of confidence making this investment even more timely. DHR Global #luxury #fashiontech

LVMH, the world leader in high-quality products, and Alibaba Group, China's leading e-commerce and #technology company, announced an extended partnership to elevate China's luxury experience using Alibaba's cloud technologies and AI-powered retail and online innovations with Tmall. The extended cooperation cements the two firms' commitment to retail innovation and tech-driven #luxury experiences, allowing LVMH to expand its Omnichannel, Data, and Tech presence in China. Stephane Bianchi, Group Managing Director of LVMH, said "Alibaba is already a key partner for our Maisons and for the Group. The reinforcement of our partnership will help us to further accelerate our omni-channel business growth, and to keep on leveraging the transformative capabilities of cloud and AI technologies, along with Alibaba's world-leading expertise in ecommerce operations. Our forward-looking #collaboration will deliver unparalleled experiences to our clients throughout their high-end shopping journey." LVMH is integrating Alibaba Cloud's generative AI capabilities, including Qwen, Alibaba's proprietary large language model, and Model Studio, a complete AI model #development platform, to innovate relentlessly. This integration has enabled the creation of new applications and services that demonstrate the luxury Maison's commitment to innovation, using cutting-edge technology to elevate its luxury offerings for global consumers, and fostering innovation-led growth in its global #retail businesses. This five-year partnership extension represents a strong and shared commitment to explore new markets, products, and technology frontiers with more than 30 Maisons and Divisions in mainland China and Southeast Asia. To share your startup story write us on - contact@startuprise.org #Alibaba #LVMH #SupplyChain #Luxury #Business #Technology #Innovation

"In recent years, VIC (Very Important Customer) consumers have shown greater resilience," says Tmall Luxury Pavilion general manager, Janet Wang. "Compared to average consumers, they have greater purchasing power, higher loyalty, are less likely to churn, and engage in online behaviors like return visits, favoriting, and adding to cart more frequently, with a higher probability of repeat purchases." Retail in Asia speaks to Wang on how the Chinese platform is continuing to attract the consumer group with its latest initiatives. FULL ARTICLE: https://lnkd.in/gEUqY5Ai #retailinasia #retailnews #Alibaba #Tmall #LuxuryPavilion #industrytalk #luxuryinchina

Some exciting news from fashion world: Luxury group LVMH and e-commerce giant Alibaba are deepening their partnership to leverage Alibaba's cloud, AI, and e-commerce capabilities to boost LVMH's presence in China. This partnership aims to cater to Chinese shoppers amidst dampened demand and to improve online shopping experiences. Hence, LVMH will gain access to technology from Alibaba Cloud to enhance supply chain processes and customer insights. This highlights the growing trend of luxury brands embracing omnichannel strategies, combining physical and digital retail avenues. Goes without saying, that the deepening partnership between LVMH and Alibaba illustrates the critical role of omnichannel strategies in driving the luxury industry. As consumer behavior evolves, brands are recognizing the need to seamlessly integrate online and offline experiences. This allows them to reach a wider audience, deliver personalized services, and streamline their operations. Through collaborations like this, luxury brands can leverage the strengths of tech companies like Alibaba to enhance their omnichannel capabilities and maintain their competitive edge in a rapidly evolving market. https://lnkd.in/dQ9NEYaQ

The luxury industry is constantly having to adapt to China's ever-changing retail landscape. During WWD's recent CEO Summit in Shanghai, panelists discussed everything from heightened customer expectations to the innovation required for brands and retailers to stay ahead of the curve. At FARFETCH Platform Solutions, our partners at CURIOSITYCHINA by FARFETCH are on the pulse of these evolving trends. From data-led insights to market-specific solutions, their consultancy provides luxury retailers with the tools they need to thrive in an increasingly competitive Chinese retail industry. Read more takeaways in WWD here: https://lnkd.in/e7cY7JFu

'📉 Yoox Net-a-Porter shuts down China operations 🇨🇳🛑 Yoox Net-a-Porter is shutting its China operations as it looks to focus on more profitable markets. 🌍💼 #YooxNetAPorter #BusinessNews #MarketShift' by Retail Gazette about YOOX

LVMH Redefines Luxury Retail Experience in China with a new extended partnership with Alibaba LVMH Group, the world leader in high-quality products, and Alibaba Group, the leading e-commerce and technology company in China, announced an extended partnership this week to push further the boundary of luxury experience in China, leveraging Alibaba’s cloud technologies, through AI-powered innovations in retail and on-line with Tmall.   The deepened partnership is a strong commitment to the shared dedication of the two companies to pioneering retail innovation and delivering exceptional, tech-driven luxury experiences, that will enable LVMH to increase its Omnichannel, Data and Tech presence in China. This announcement of extending the global partnership follows the debut of integrating Tmall in Tiffany’s and Chaumet’s luxury retail journey. To date, LVMH has successfully introduced around 30 prestigious Maisons who are partnering with Tmall LuxuryPavilion to leverage Alibaba's digital capabilities for engaging experiences such as 3D product displays, virtual try-on, and livestreaming. Both parties have also expanded the collaboration on various omni-retail initiatives, including digital recreation of renowned luxury venues, product debuts, membership programs, and personalized consultations. This strategic move further extends the LVMH luxury experience to millions of Chinese shoppers. Thank you to everyone who has worked on this along the journey. Without collaborative efforts or mutual commitment, we wouldn't have achieved this far. https://lnkd.in/g3JTAhbT