LVMH to reward luxury start-up at Viva Technology
24/02/2017
The group was an official partner for Viva Technology’s inaugural edition in 2016. It is an international event which aims to promote innovation and encourage start-ups within the luxury industry. In 2016, LVMH launched the Luxury Lab as part of the show. The space was dedicated entirely to the luxury industry. It will return in 2017.
The LVMH Innovation Award is open to companies created less than five years ago that are valued at less than $100 million. Their business must be connected to one of the sectors in which LVMH operates. They can apply on the Viva Technology website until March 31.
A committee of experts from LVMH Maisons, start-ups and investors will select a shortlist of 32 start-ups, who will be invited to be part of the LVMH Lab in June. They will have the opportunity to pitch their business and ideas to an audience, with one of them being named the winner. The awardee will meet with the team in charge of private equity investment at LVMH to discuss potential relationships with the group and its Maisons.
“This new award reasserts the importance that LVMH attaches to initiative and fresh ideas in shaping its strategy, consistent with the Group’s core values of excellence, innovation, creativity and entrepreneurial spirit,” the company said.
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