LVMH’s recent activity reveals its growing ambition to appeal to Gen Z and millennial customers.
In 2022, LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury group, experienced 23% revenue growth year-over-year despite the prevailing economic downturn.
LVMH’s strategic focus on targeting millennials and Gen Z — which are expected to account for 70% of luxury spending by 2025 — may be a key factor to its continued growth.
To engage with these customers, LVMH is catering to their familiarity with digital experiences (like social media and e-commerce) and commitment to sustainability, which play large roles in their purchasing behavior. It has also expanded its base of younger customers through strategic moves such as acquiring streetwear brand Off-White and collaborating with KidSuper through its Louis Vuitton brand.
Using CB Insights data, we uncovered 4 of the most important strategic priorities highlighted by LVMH’s acquisitions, investments, and partnerships since 2021. We then categorized companies by their business relationships with LVMH across these priorities:
- Digital experiences
- Sustainable beauty
- Sustainable materials
- Traceability tech
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
