News

LVMH aims to become leading luxury start-up hub in Europe

The big luxury conglomerate recently announced a start-up programme to support 50 businesses a year in Paris.

France's LVMH is helping projects by upcoming entrepreneurs in the luxury goods space, including a start-up whose software might help detect counterfeits. The owners of Louis Vuitton, aim to support the new businesses by hosting them in a mega-campus where they can collaborate with its in-house brands.

LVMH, the world's biggest luxury goods group, is following in the footsteps of French cosmetics giant L'Oréal in grabbing a corner of Station F, a vast startup incubator in Paris where it offers rent-free space to the startups.

"The idea is to animate and activate those conversations around the things that might affect the luxury industry," said Ian Rogers, who is a former Apple executive who joined LVMH in 2015 as chief digital officer.

Paris is among one of the major European cities bidding to displace London's dominance in the startup scene as BREXIT looms and President Emmanuel Macron pushes a pro-reform agenda to promote business and investment.

Station F was launched last year by French billionaire Xavier Niel, who is also the partner of Delphine Arnault, an executive at Vuitton and daughter of LVMH boss Bernard Arnault.

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