Antoine Arnault’s choices, responsible for the image and environment of LVMH, all at once. No to second hand, yes to products’ duration. Yes to physical fashion shows and no to their frenzy. Yes to sustainability, not to its rankings. Yes to leathers and furs and to greater cooperation between luxury groups. To WWD, the young Arnault describes the next steps of the French giant led by his father Bernard.
Second hand and fashion shows
For the moment, LVMH has no plans to get involved in the second-hand market. Antoine Arnault recognises that it is a thriving business with great prospect, but he observes: “We have durable products, and we repair them. These products should never be thrown away”. Speaking of fashion shows, the young Arnault observes that “physical fashion shows will absolutely continue. We have probably reached the end of a cycle at the beginning of this pandemic, and the end of a system. There has been a kind of frenzy in recent years, and perhaps we have been swept into a vortex for always wanting to offer something extravagant and new”.
Leathers and furs
LVMH leaves full freedom to individual brands when it comes to materials. “The truth is that through the trade in animal leathers and furs, it is possible to contribute to the conservation of the species”, confirms Arnault. The manager stresses that there are economies and people who support themselves with the trade of leathers and furs: “We have made the decision to continue to help these economies and these people”.
Sustainability and collaboration
“We feel very confident that we have taken the right path. I think, in the long run, we are making the correct decision not to be obsessed with this or that sustainability ranking. The methodology underlying these rankings is sometimes not very transparent”. LVMH did not sign the Kering Fashion Pact and Kering did not join the Aura blockchain consortium founded by LVMH. But despite this, Arnault says there is a tendency “to cooperate more than people think with our competitors for the simple reason that we often have the same suppliers. So, we talk often to try to improve practices, create new standards, and I think it’s important to maintain a good relationship”.
- LVMH opens Nona Source, the B2B re-sourcing of its deadstock
- Parallel convergences for LVMH and Kering regarding the market (and PETA)