LVMH, the fashion conglomerate with control over Louis Vuitton, Givenchy, Fendi and Kenzo (to name a few) has officially announced they have no intention of doing business with online retailer Amazon. In true Parisian style, LVMH chief financial officer Jean-Jacques Guiony announced “we believe the business of Amazon does not fit with LVMH full stop and it does not fit with our brands.”
This just goes to show how the luxury sector moves at a slower pace than fast fashion and for online department stores such as Amazon, there are some pretty hefty challenges facing their attempt to conquer the luxury fashion market. When you pay such a high price for the product, one expects the service.. but how does one integrate this service into the online market?
There’s a more in-depth analysis here which is an interesting read.