In the month of November, IE Talent & Careers organized an information session about Louis Vuitton Moët Hennessy’s new program: Inside LVMH. This program brings together students from the 40 best business and engineering schools worldwide to work on a project and learn about LVMH throughout the process.
LVMH is considered the biggest group in the luxury industry with up to 70 different houses or maisons as they call them. The group was created in 1987 under two holdings that covered all the brands. Today this group has more than 140,000 employees worldwide, owns 3,948 stores and divides its portfolio in six main categories: Wines & Spirits, Fashion & Leather Goods, Perfumes & Cosmetics, Watches & Jewelry, Selective retailing & other activities.
LVMH is a decentralized organization, meaning that its maisons share common guidelines but have developed their own strategy and have registered an organic growth independently. For example, Sephora, one of their brands, created in 1997, two years later became the largest subsidiary in the U.S. Synergies are created among their maisons, facing the savoir-faire challenge: “keeping the tradition of the brand to the new-comers”.
Their core belief is “People make the difference” and their main values are excellence and quality, entrepreneurship and creativity and innovation. It is important to mention that 74% of the employees are female and 40% of the key positions within the company are women-owned. The average age is only 36 years old and the seniority is 7 years, which means that one can grow professionally within the Group, with opportunities for both international mobility, as well as mobility amongst brands.
The objective of the on-campus presentation was to present the new Inside LVMH talent program, which they are launching in Spain. It consists of a 4-month program where students work on innovation in the luxury industry to address the challenge “2018: Imagine the luxury experience of tomorrow”. The objectives of the program are to give the students the chance to know the Group and its maisons from the inside, understand
the luxury industry, develop an innovative spirit and give exposure to students in front of LVMH recruiters.
The presentation was a total success given the number of attendees and the number of IE students who are participating in the program. In order to be accepted into the programs, students had to submit a one-minute video containing an elevator pitch talking about why they were interested in participating and what they liked about LVMH.