Luxury goods giant proud of close ties to China
Louis Vuitton was among the first of the major luxury brands to open a store in Beijing in 1992. Since then, LVMH has established profound and precious ties with China, according to Marc-Antoine Jamet, secretary-general of the group.
“This was the founding gesture of a relationship of trust that has only grown stronger over the years,” Jamet said. He added that Moet Hennessy Louis Vuitton, with its 76 prestigious Houses, is proud to have built such a lasting relationship with China and hopes it will continue to grow. To date, the group operates a network of nearly 1,400 stores and employs more than 28,000 people in the country.
“We are particularly attentive to the way in which China has, for several years, facilitated access to its soil for foreign companies,” Jamet said. “Chinese authorities have managed to create an economic environment that is both open and favorable to the development of commercial partnerships.”
For LVMH, China represents an extraordinary collaborative ecosystem and an infinite source of inspiration. Every year, the group and its properties organize and participate in large-scale events.
In November 2022, Louis Vuitton, Dior, Loewe and Hennessy participated in the Art021 Shanghai Contemporary Art Fair. It was an opportunity for the group to showcase its attachment to China during a difficult period of the public health crisis.
Moet Hennessy, a wine and spirits company under LVMH, attended the second China International Consumer Products Expo held in Haikou, capital of South China’s Hainan province, in July 2022.
Aimed at promoting sustainable development actions, and it drew attention from the younger generation via a large consumer goods exhibition in the Asia Pacific region.
LVMH is a leader in sustainable development of China’s luxury retail industry, according to the group.
As part of its policy to reduce energy consumption, LVMH announced a three-year cooperation agreement with Hang Lung Properties, which has approximately 100 shopping centers in China, in October 2022.
Hang Lung Properties has committed to cutting its energy consumption by 18 percent by 2025, by turning off shop lights outside business hours and ensuring the presence of electricity meters.
For its part, LVMH’s commitments include sourcing 70 percent of its materials from within a radius of 500 kilometers, along with measuring and tracking energy consumption at its stores.
“Our collaboration will allow us to expand our environmental commitments, especially with regard to climate and to position LVMH as a leader of sustainable development in China for high-end retail,” said Jamet.
The group also has an ambition to aid in Chinese wine development, creating a red wine worthy of comparison with great wines worldwide.
Ao Yun launched its first wine in 2013 and boasts 314 plots for production. The group spent four years searching for the perfect land across various parts of China. The vineyard is located in northern Yunnan, a region with huge wine potential, located along the Mekong River; a small, remote paradise at the foothills of the Himalayas, not far from the legendary city of Shangri La.
LVMH began in 2019 to participate in the China International Import Expo, which has established itself as an essential meeting place and a major event for the development of international trade.
The event is an opportunity for the group to present new creations and innovations in sectors ranging from fashion and leather goods, wines and spirits, watches and jewelry to perfumes and cosmetics.
LVMH is focusing on the next editions of the CIIE. “After the pandemic that has hit France and China, 2023 will allow our brands — including Dior, Louis Vuitton, Hennessy and Tiffany — to bring together our local teams and our French teams, to meet our Chinese friends and partners directly, to present our creators, our craftsmen, our most innovative and amazing products to our customers in Shanghai. 2024 will be even more important as France will be the guest of honor for this edition.”
In general, LVMH is determined to continue innovating, particularly in the economic and cultural fields, in close collaboration with authorities in China, a territory of many possibilities.
Chinese authorities have managed to create an economic environment that is both open and favorable to the development of commercial partnerships.”
Marc-Antoine Jamet, secretarygeneral of LVMH