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LVMH CERTIFICATION AND FINAL EXAM
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LVMH CERTIFICATION AND FINAL EXAM
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LVMH CERTIFICATION AND FINAL EXAMCHAUMET - ANSWER Which of these Maisons is the oldest?
Constant innovation
Personalization of relationships
Transforming shopping in a unique experience - ANSWER What are the key drivers
for Selective Retailing Maisons?
LOEWE - ANSWER Which Fashion House within the Group was founded in 1846?
More than 6,000 stores - ANSWER How many stores does LVMH manage?
Centralized Organization - ANSWER LVMH Operating Model has six pillars. Which
one is not correct?
213,000 employees out of which 71% are women - ANSWER How many employees
work at LVMH and how many are women?
More than 75 - ANSWER How many Maisons are part of the LVMH Group?
Fashion and Leather goods - ANSWER Which business sector at LVMH generated
the highest share of revenues in 2023?
Officine Universelle Buly - ANSWER Which Maison of the Perfumes & Cosmetics
division is the oldest?
Domaine des Lambrays (oldest) & Eminente (youngest) - ANSWER Which is the
oldest wine estate and youngest brand in the Wines & Spirits division?
Main Characteristics:
Rarity: Luxury products are often rare.
Quality: Luxury products are designed with high quality and craftsmanship.
Price: Luxury products are often expensive and can be perceived as status symbols.
Exclusivity: Luxury brands are often exclusive, and customization can be an
advantage over mainstream brands.
Heritage: Luxury brands can create associations with dream values like authenticity
and credibility.
Brand identity: Luxury brands often have a strong brand identity and image.
Customer service: Luxury brands often offer exceptional customer service.
What makes LVMH unique:
Creativity and innovation
Acquisition strategy
LVMH has a history of acquiring well-regarded brands instead of starting from
scratch.
Quality
, LVMH's Maisons, or brands, are known for their high standards and attention to
detail, and they strive to continually improve their products and services.
Diversification
LVMH is th - ANSWER What are the main characteristics of the Luxury Industry,
and what makes this sector unique?
evolving consumer preferences, technological advancements, and sustainability. -
ANSWER According to you, what are the According to you, what are the three most
important factors influencing the future of Luxury?
1. Quality- referring to the long lasting characteristics of luxury goods, and to their
design and aesthetic appeal, but also to the craftsmanship
2. Scarcity- luxury brands go beyond mere rarity of ingredient or craft - adding
qualitative rarity, with limited editions and collections
example- a special blend of Cognac in a flask specifically designed for the occasion,
and made of noble material.
3. Delivering experiential rewards- luxury needs to be loaded with positive emotions
and powering brand associations to ignite an emotional connection
examples- blue box at tiffany
4. Signed by brands - beyond product artistry, the brand signature, symbol of
distinction and status, also is an essential element of luxury-- and beyond the logo,
all iconic elements participate to the symbolic dimensions of luxury; it may be a
pattern, a color, a design, raw material, anything that is sufficiently proprietary to be
recognize - ANSWER 7 essential characteristics that help measure the
"luxuriousness" of an offering.
- sustainability
- new customer expectations
- innovation
- digital transformation and the omnichannel
- china: a leading market - ANSWER major stakes shaping the future
is a client-centric approach aimed at providing a consistent, qualitative, and
seamless customer experience across all channels and geographies. - ANSWER
Omnichannel
is cross-functional collaboration and full integration of each Maison's assets
(including inventory, capabilities, tools & systems, data, processes,...) - ANSWER
The key to obtaining this synchronicity
- Omnichannel is a client-centric approach aimed at providing a consistent,
qualitative, and seamless customer experience across all channels and geographies.
- Establishlising a smooth omnichannel customer experience requires cross
collaboration across all teams, departments, and through all activities from
warehouses to stores. - ANSWER Select the appropriate sentences related to
LVMH omnichannel strategy
YES - ANSWER Looking at distribution, is Brick and Mortar still an important part of
the Luxury story?
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