LVMH | ECONOMIES | DIGITAL TRANSFORMATION | AI APPLICATIONS
Moet Hennessy Louis Vuitton SE (LVMH) — Digital Transformation Strategies
LVMH Digital Transformation Strategies Report Overview
LVMH uses cloud-based AI technologies as a part of its digital transformation strategies. The annual ICT spending of LVMH was estimated at $1.9 billion in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. LVMH Moet Hennessy Louis Vuitton SE (LVMH) is a manufacturer and marketer of luxury goods. The company’s product portfolio comprises clothing, fashion and leather goods, wines and spirits, perfumes and cosmetics, jewelry, and watches. It also offers cruise services and runs select retail businesses under the DFS, La Grande Epicerie de Paris, Sephora, and Le Bon Marche Rive Gauche banners.
Total ICT Spending 2022
$1.9 billion
ICT Spend by Function
Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management
ICT Spend by Channel
Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators
External ICT Spend by Segment
ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others
Technology Theme Focus
Artificial Intelligence, Big Data, Cloud, and IoT
The LVMH Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, investment, ICT spending among others.
Digital Transformation Strategies
LVMH announced that it will use Google Cloud’s suite of Artificial Intelligence (AI) technologies and cloud computing services to help its individual brands improve demand forecasting and optimize inventory management. The company stated that the AI technologies will be implemented across global supply chain and logistics operations; partner, employee, and customer interfaces; and product development to better understand customers’ previous interactions and current needs and offer superior, personalized customer services. The company has also announced that it will use Google Cloud to modernize its IT infrastructure.
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LVMH Technology Theme Focus
LVMH Technology Focus
LVMH is utilizing number of emerging technologies including artificial intelligence, big data, cloud, and IoT to enhance operational efficiency and product offerings.
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LVMH Technology Initiatives
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LVMH has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years. For instance, LVMH’s Patou introduced AI-powered authentication in collaboration with Ordre, to add new capabilities in determining fakes using AI’s capabilities. Named as Authentique Verify, the solution provides unique digital IDs of physical luxury products using a smartphone, which allows consumers to simply scan the area of digital IDs with their phone to verify whether the product is original.
Authentique’s digital IDs also offer extensive product specifications and sustainability information, warranty information as well as styling videos.
LVMH ICT Spend by Function
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- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
LVMH ICT Spend by Function, 2022
For more insights on external ICT spending by segment, download a free report sample
LVMH ICT Spend by Channel
- Insight into LVMH’s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
LVMH ICT Spend by Channel, 2022
LVMH External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
LVMH External ICT Spend by Segment, 2022
Originally published at https://www.globaldata.com.
