What are the major elements of lvmh's competitive strategy in the branded luxury products industry? how well do the pieces fit t

Question

AnnyKZ [126]

3 years ago

11

What are the major elements of lvmh's competitive strategy in the branded luxury products industry? how well do the pieces fit t

ogether? is the strategy evolving?

Business

1 answer:

Arada [10] · Answer 1 · 2022-07-20T08:03:03+03:00

It's incorrect to say competitive strategy- because LVMH is not a business. LVMH doesnt compete with anyone because it is a conglomerate of decentralized brands. Each brand has its own DNA/story/value proposition and its own competitors and unique business strategies.

Having said that, LVMH's 'corporate' strategy is to hold a portfolio of the most cherished, coveted luxury brands and add value through its specialized resources - sourcing, its supply chain management, brand management and talent.