I recently asked a group of models, whom I have been working with on their development, to profile a series of fashion designers to increase their knowledge and understanding of the industry they are hoping to work in. Through this exercise, I received overwhelming feedback that the exercise itself was of extreme value and they were keen to learn more.
My blog post today is exploring the industry on a business level, by reflecting on arguably the largest luxury group worldwide, the Louis Vuitton Moët Hennessy group. While some of you may be aware that LVMH owns the Louis Vuitton brand, as well as brands within the wine and spirits realm, their power and reach really extends much deeper into leather goods, perfumes, cosmetics, watches, jewelry and selective retailers.
The majority of the luxury market, when it comes to fashion, is controlled primarily by 3 groups. The first being LVMH which I will focus on, the second being French based Kering group which holds brands such as Gucci and Alexander McQueen and lastly the Swiss-based company Richemont which controls Mont Blanc, Net-a-Porter as well as Chloe to name a few.
LVMH was formed in 1987 by the merger of the Louis Vuitton fashion house with Moët Hennessy. Despite having numerous brands within the group, each brand is independently managed and assessed based on it's share within the market. Bernard Arnault, Chairman and majority shareholder of the Christian Dior luxury goods group, is also the Chairman and CEO of LVMH. In 2010, Arnault made a successful bid to buy 20% of the shares of Hermès, which many believe is Louis Vuitton's largest competitor in the luxury fashion segment.
Some of LVMH's most well known brands include Moët et Chandon, Hennessy, Dom Pérignon, Veuve Clicquot, Louis Vuitton, Céline, Givenchy, Marc Jacobs, Fendi, Christian Dior, Kenzo, Donna Karan, Thomas Pink, Emilio Pucci as well as Acqua di Parma perfume, Christian Dior perfumes, the Sephora cosmetics retail stores and watch and jewelry companies Tag Heuer, Hublot, Zenith and Bulgari.
Over the coming weeks I will be featuring guest blog posts of several designer profiles as researched and presented by some of the up and coming models from Images International Model Management.