France (Xinhua)—As LVMH enters their third committee session, the challenge of diversity while upholding Louis Vuitton’s image remains a pressing concern. While some directors are set on following Louis Vuitton’s historical motto, others wish to detach from this outdated fashion. With this evenly split judgement, dilemmas arise as each executive seems to display unwavering resolve.
Evidently, LVMH’s target market has aged—setting a consumer bias that LV customers are consisted of solely elderly people. To break this stereotype, directors have come forward with the intent to target a younger consumer base. During the meeting this morning, Antonio Belloni—Chairman of LVMH’s Shanghai Branch emphasized that we must “ditch LV’s image and create a new brand”. Moreover, the new initiative—DARTS is aimed to focus on sustainability, circular fashion, and curating a gameplan to improve LVMH. It is evident that each director on the board is set on enhancing LVMH’s connection to the younger generations, expanding their styles to target current trends in Gen Y, Z, and A.
“Everyone here wants the better of LVMH!” exclaims Bernard Arnault, the Chief Executive Officer. In an attempt to defuse the tension, he draws the board’s attention back to the current lack of innovation. From ideas of utilizing AI in hopes of a futuristic approach to investing more of the company’s expenses in celebrity collaboration, Louis Vuitton is determined to pave LV’s path to success. As the committee starts to build their blocs and write resolution papers, Xinhua wishes to see a merge of both ideas as it is important to adapt to our everchanging world, but equally to stay connected to our history.