LVMH

PARIS Online retailer 24 Sèvres is celebrating this year’s edition of the LVMH Prize for Young Designers by distributing a capsule collection of outfits designed by the eight finalists in June, to be followed by a selection of pieces from the winner’s collection in the fall.

The global luxury web site owned by LVMH Moët Hennessy Louis Vuitton has been expanding the scope of its collaborations as online retailers seek to stand out in a crowded landscape by offering exclusive products.

The LVMH Prize finalists will be selected by a committee of experts during a showroom event at the luxury giant’s headquarters on March 1 and 2 during Paris Fashion Week.

The capsule is scheduled to go on sale online in early June, to coincide with the prize-giving ceremony where a jury — made up of designers including Nicolas Ghesquière, Maria Grazia Chiuri and Marc Jacobs — will designate the winner.

Eric Goguey, chief executive officer of 24 Sèvres, said the initiative was in line with the site’s ambition to provide a highly curated offering with a Parisian perspective. “As a digital site, we are very much in tune with the fast pace of young designers, who are themselves often very connected,” he told WWD.

“Helping to spread the work of designers worldwide is at the core of our brand mission. Thus, the idea of supporting the LVMH Prize by allowing young designers to be distributed globally came very naturally,” he added.

Eric Goguey

Eric Goguey  Courtesy

The capsule collection, which will allow some participating designers to make their e-commerce debut, reflects the mix of established and emerging brands on 24 Sèvres, which is the only multibrand online retail platform to offer LVMH-owned labels such as Louis Vuitton, Dior and Celine.

“We know our customers are looking for unique and exclusive products, and we see a particular appetite for emerging brands that are not as widely distributed. That is true across the Atlantic, as well as in Europe or Asia-Pacific. For instance in Australia, which is a high-growth market for us, interest in young designers is particularly strong, especially as they are harder to find over there,” Goguey said.

The initiative ties in with the trend for responsible consumption, with many candidates promoting awareness about the environment and social issues.

“Our clients care about the stories behind the products we sell, and tell us they want to shop in a meaningful way. This project allows us to expose the work of young designers to a wider audience, thereby forging links between them and our customers,” he noted.

With clients in more than 100 countries, 24 Sèvres offers more than 200 brands, ranging from luxury labels to contemporary brands like A.P.C. and Vanessa Bruno, and emerging labels such as Rejina Pyo, Self Portrait, Manu Atelier, Danse Lente and Yuzefi.

The online arm of Paris department store Le Bon Marché, the site celebrated its launch in 2017 with a capsule collection of 77 limited-edition pieces by brands including Chloé, Miu Miu, Fendi, Givenchy and Proenza Schouler.

Since then, it has featured collaborations with the likes of Louis Vuitton, Celine, AMI, Inès de la Fressange and Vanessa Bruno. “This year, we will continue to develop this model, with new projects designed to surprise our clients,” Goguey said.

While LVMH does not break out separate figures for 24 Sèvres, group managing director Antonio Belloni said last month that the luxury conglomerate’s online sales totaled 3.7 billion euros in 2018, up between 27 and 28 percent year-over-year, accounting for roughly 8 percent of total revenues — in line with the industry average.

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