Inside LVMH

Which of these Maisons is the oldest?

CHAUMET

What are the key drivers for Selective Retailing Maisons?

- Constant innovation
- Personalization of relationships
- Transforming shopping in a unique experience

Which Fashion House within the Group was founded in 1846?

Loewe

How many stores does LVMH manage?

More than 6,000 stores

LVMH Operating Model has six pillars. Which one is not correct?

Centralized Organization

How many employees work at LVMH and how many are women?

213,000 employees out of which 71% are women

How many Maisons are part of the LVMH Group?

More than 75

Which business sector at LVMH generated the highest share of revenues in 2023?

Fashion & Leather Goods

Which Maison of the Perfumes & Cosmetics division is the oldest?

Officine Universelle Buly

Which is the oldest wine estate and youngest brand in the Wines & Spirits division?

Domaine des Lambrays (oldest) & Eminente (youngest)

Which characteristics may help to measure the luxuriousness of an offer?

- Quality
- Scarcity
- Delivering experimental rewards
- Signed by brands
- Controlled channels
- Personalized services
- Price

Select the appropriate sentences related to LVMH omnichannel strategy

- Omnichannel is a client-centric approach aimed at providing a consistent, qualitative, and seamless customer experience across all channels and geographies.
- Establishing a smooth omnichannel customer experience requires cross-collaboration across all teams, departments, and through all activities - from warehouses to stores.

Looking at distribution, is Brick and Mortar still an important part of the Luxury story?

Yes

According to Bain & Company, China will be the largest market for personal luxury goods in 2030.

Agree

How do Fashion & Leather Goods Maisons offer their clientèle unique customer experiences?

By mastering their distribution

According to Erwan Rambourg the young generation of luxury buyers have transformed the luxury industry in certain areas such as casualization, social media or values.

True

According to Bain & Company, by 2030, online sales will represent...

33% of the luxury sales

What are the core values of LVMH?

- Creativity & Innovation
- Entrepreneurial spirit
- Quest for excellence
- Sense of commitment

What can Innovation enable at Louis Vuitton?

- Share the Maison's history with the clients
- Uphold creativity and Savoir-Faire

Was Dior the first international LVMH brand to enter the Chinese market?

True

A commonly used definition of Sustainability is based on three pillars: maximizing simultaneously the biological system goals, economic system goals, and social system goals.

True

Sustainability and sustainable development can be seen as the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs.

Agree

Diversity refers to demographic difference or the ways that people differ from each other.

True

According to Serge Carreira, which are the essential values of Luxury?

All of the above.
- Quality beyond aesthetic
- Legacy beyond desire
- Emotion beyond ownership
- Creativity beyond trends

According to Anne Michaut, select key principles of Luxury.

- Consumers have a range of consumption motivations.
- Consumers tend to express their values through the brands they select.
- Brands can become powerful personal branding tools as they project clear and strong values.
- Brands can deliver higher perceived value to their customers by expressing their own values.

How is Sephora reducing CO2 impacts?

- by using renewable energy contracts
- by reducing the packaging
- by promoting "Good for" sustainable product selection

Which of the following are part of LVMH's LIFE 360 Program to positively impact the environment?

- Protect Biodiversity
- Fight Climate Change
- Foster Creative Circularity
- Implement Traceability and Transparency

Since it was opened in 2014, the Fondation Louis Vuitton has welcomed ...

Nearly 11 million visitors

Louis Vuitton launched in 2020 its Committed Journey program, with an environmental roadmap based on three pillars.

Which is NOT a pillar of this program.

Foster sustainable viticulture

What are the talent-centric objectives to foster an inclusive culture at LVMH?

- 50% of women in key positions by 2025
- 2% of people with disability by 2025
- 30% of Black, Indigenous and People of Color in leadership positions in the US by 2026

According to Victoria Reynolds, responsible sourcing at Tiffany & Co. means ...

- Supporting human rights
- Supporting fair labor
- Supporting environmental conservation

The circular economy is a model of production and consumption which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible.

True

Through the Living Soils Living Together program, Moët Hennessy wants to reduce by ... its water consumption worldwide by 2030.

30%

How can you help your (future) organization harness diversity in a way that promotes greater inclusion?

- Being aware that out-group bias exists and we are all prone to it
- Being open to difference and learning helps counteract exclusion
- Acting as an ally when you see inequity or exclusion

All of the above

The goal of the IME (Institut des Métiers d'Excellence) is to...

Transmit savoir-faire

At Marc Jacobs, Leather Good products take ... from final prototypes to being ready for clients to purchase and enjoy.

9 months

According to Dana Naberezny, to boost innovation, you need to create an environment, process and therefore a culture where people have trust and the resources to ideate.

Agree

At Louis Vuitton, what does every design project start with?

Researching

What fields are included in the ASCEND framework presented by Thomaï Serdari which organises the understanding of creativity?

- Engineering
- Science
- Arts
- Design

At Hublot, what are the three functions a watchmaker holds?

- Designer
- Project Manager
- Draftsman

Which are the key factors to building incredible luxury brand experiences?

- The brand's goal
- The brand's unique point of view
- The stories the brand has to tell

Based on the brand management stories from some of the LVMH Maisons, choose appropriate proposals for brands to attract and engage customers.

- Reflect strong values and commitment
- Deliver strategies aligned with the DNA of the brand
- Activate omnichannel plans

According to Sage from Tiffany & Co., synchronization and close partnership across functions is essential to deliver a clear message to clients and consumers.

Agree

According to Carole Bildé, her first role as Marketing and Communication Director for Veuve Clicquot is to...

engage customers and make Veuve Clicquot the most desirable Champagne brand

The brand has to always modernize following the evolving demands of the customers, even if it means sacrificing some of its history and legacy.

Disagree

Brand Management always starts by understanding the brand, what makes it unique and relevant for customers.

Agree

A brand DNA is based on...

- Heritage
- Values

At Louis Vuitton, the Visual Studio team puts sustainability at the heart of design & process by...

- Re-using existing materials
- Re-using previous schemes in new incarnations
- Questioning materials & production techniques

When talking about codes, a subtle signal could be...

- A color
- An emblem
- A shape
- A print

According to Nina Cooper from Parfums Christian Dior, a key challenge in the omnichannel world is to talk to different customers through various channels while conveying the same message.

Agree

According to Sandrine Crener from HBS and LVMH, we have moved from a traditional retail model to a new global and omnichannel model. This traditional model was defined by...

- a few stores in a limited number of cities in the world
- a target of few privileged people who had physical access to those stores
- the promotion of scarcity and exclusivity

Select the key success factors of a best-in-class customer experience.

- Customized
- Elevating
- Memorable
- Involving
- Relevant

A key stake of the luxury retail is to offer exceptional customer experiences.

True

Gamification is a way for luxury brands to get closer to a younger clientele.

yes

According to Anne Michaut from HEC Paris, what are the purposes of retail today?

- Magnifying the product
- Celebrating the brand
- Nurturing client's emotion

When it comes to retail, what objectives do Data and AI serve?

- Automating tasks to improve customer satisfaction
- Optimizing the retail space
- Personalizing the customer experience

According to Trent Power, the cost of acquiring a new Client is higher than the cost of retaining an existing one.

Agree

Sephora Champs-Elysées welcomes an average ... visitors per day, with a team of ... people working at the store.

10 thousand visitors, 200 people

According to Nelly Mensah, LVMH is leveraging Emerging technologies. They include ...

- Blockchain
- Web3
- 3D
- GenAI
- Immersive experiences

A key stake and commitment of LVMH is to develop its talents in Retail. Those Talents represent at LVMH:

More than the half of the employees worldwide

What are the main rules to follow when it comes to customer experience?

- Customer-first
- Brand consistency
- Connection with customers
- All of the above

All of the above

What are the main qualities to succeed as a store manager?

- You need to have an insatiable curiosity for products
- You need to like people
- You need skills in storytelling
- You need to be passionate

The Net Promoter Score indicates the probability of clients recommending a product, a brand or service.

Agree

The client experience refers to the interaction between the client and the brand across multiple points of contact.

True

At Guerlain, what are the three pillars that create a connection with customers?

- Store teams
- Place and retail design
- Customer programs

Which of the following statements are pillars of the LVMH Business Model?

- Creating Synergies
- Sustaining Savoir-Faire
- Balance across business segments and locations

According to Bain & Company, by 2030 and within the personal luxury goods market, the online sales will represent...

33% of the luxury sales

According to Bain & Company, the personal luxury goods market is expected to achieve an annual growth rate of 1% until 2030.

False

At LVMH, omnichannel is a client-centric approach aimed at providing a consistent, qualitative and seamless customer experience across all channels and geographies.

Yes

According to the Digital Innovation Director at Louis Vuitton, innovation can help to transmit savoir-faire into the future.

Agree

Which of the following proposals are part of the 7 essential characteristics that help measure the luxuriousness of an offer?

- Quality
- Scarcity
- Personalised services
- Controlled channels

Eco-conscious customers are adapting their consumption by rethinking the products as a service, by rediscovering vintage products and by seeking eco-transparency from brands.

True

Which of these activities are represented within the LVMH ecosystem?

- Fashion and Leather Goods
- Hospitality
- Wines and Spirits

What are the main pillars of LVMH's Environmental Strategy, LIFE 360?

- Biodiversity
- Climate
- Creative Circularity
- Traceability & Transparency

LVMH created an environmental department...

30 years

Responsible sourcing at Tiffany means ...

- supporting human rights
- supporting fair labor
- supporting environmental conservation

The circular economy is a model of production and consumption, which involves sharing, leasing, reducing, repairing, refurbishing and recycling existing materials and products as long as possible.

Agree

According to Serge Carreira from Sciences Po, to be attractive, Luxury has to reflect the following customer's expectations:

- Authenticity
- Transparency
- Sustainability
- Inclusivity

Traceability is about understanding where exactly a product comes from, including the raw materials used to create it.

True

What are LVMH's Diversity & Inclusion three action pillars?

- People
- Partners
- Image

The protection of natural ecosystems has always been of utmost importance to LVMH, whose activity is reliant on natural raw materials. Please select the natural raw materials that LVMH is using.

- Flowers
- Grapes
- Cotton
- Leather

A brand DNA is based on...

- Heritage
- Values

At Tiffany & Co., a helpful framework used to develop a branding initiative is Inspire, Elevate, and Educate.

Agree

Every design project should begin with research and sketches.

true

Brand management's key stake is to...

develop the desirability of the brand

A brand DNA is crucial for Maisons as it directly impacts:

- the product development
- the communication
- the retailing
- the organization

Thanks to its iconic colour, Veuve Clicquot has a strong identity. Which colour is it?

The Clicquot Yellow

According to Nina Cooper from Parfums Christian Dior, each category such as Fragrance, Make-Up and Skincare has a different purpose for the brand, but all of them have to be align with the brand DNA.

True

According to Dana from Tiffany and Co., ensuring you have a diverse team in terms of skill set, proficiencies, thought, behavior and even personality type is critical to boost innovation and creativity.

Yes

The cost of acquiring a new Client is anywhere from 5 to 25 times more than retaining an existing one.

True

According to the Global Retail Experience Director at Guerlain, which of the following pillars create a connection with customers?

- Place and retail design
- Customer programs
- Store teams

At LVMH, retail talents have the most important role in the transformation of retail.

True

When choosing an emerging technology for a project, LVMH Digital Innovation & Emerging Solutions team is looking at ...

- where the client is
- unmet business challenges or client needs
- luxury values and innovation

What are the purposes of retail today, in addition to developing sales?

All of the above

Data & Artificial Intelligence is useful in retail to: personalize the Customer Experience, optimize Retail Space, automatize Tasks for Customer Satisfaction.

True

With more than 50% of our talents working in retail, the retail activity is key at LVMH.

True

What are the main qualities required for a store manager to succeed in offering the client a memorable experience?

- You need to have an insatiable curiosity for products
- You need to like people
- You need skills in storytelling
- You need a high level of engagement