LVMH and Kering: opposite strategies face recovery and its challenges
After a year-long break in their growth, LVMH and Kering have to answer challenges linked to recovery, while facing changes in the luxury fashion sector. To do so, their fashion brands seem to have opted for opposite strategies.
While LVMH and Kering (the first two luxury groups in the world according to Deloitte’s ranking “Power of Luxury Goods 2020”), just shared their results a few weeks apart. Both were able to contain the crisis on their 2020 performances, thanks to sales during the second semester.
Yet, their fashion brands’ recovery strategies in terms of development and communication seem to be completely opposite.
The most luxurious segment of LVMH’s fashion brands’ portfolio (Dior, Louis Vuitton, Givenchy, Fendi and Céline) was able to capitalize on the group’s leadership. In the lead, Dior and Louis Vuitton – thanks mainly to their accessories - have largely contributed to the second semester’s recovery, particularly tangible in Asia and North America.
Even though Givenchy has not presented a Couture collection since the departure of Clare Waight-Keller – with the exception of Céline since the 2021 Spring Collection – the most prestigious fashion brands of LVMH follow the usual collection calendar established by the Fédération de la Haute Couture and of the Chambre Italienne de la Mode.
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