Who will succeed Toshi, a home shopping service solution? The LVMH group has just revealed the list of 18 luxury startups vying for the title Grand Winner of the LVMH Innovation Award 2023. They will also compete in one of the six business categories, and the winners will be chosen at the VivaTech trade show during the final on June 15.
These 18 finalists will be invited to present their solutions on the LVMH stand at Viva Technology, the global meeting place for startups and leaders. This trade show, created in 2016 with the support of the world’s number one luxury goods company, aims to bring together startups and large companies to celebrate and energize innovation.
In the footsteps of Toshi, winner of the 2022 edition
The event was doubly memorable with the exceptional presence of the group’s Chairman, Bernard Arnault, who presented the prize to the founder of Toshi, Sojin Lee.
This British startup brings the in-store customer experience into the comfort of the customer’s home.
Recognized by the group and the luxury sector, Toshi has accelerated its development and worked with some prestigious brands, such as Tiffany & Co, Berluti, and Rimowa.
“Like last year’s grand prize winner, Toshi, we look forward to accelerating the development of high-quality solutions that will take the luxury experience even further,” said Olivier le Garlantezec, Global Digital & Tech Partnership Director, LVMH.
A growing talent pool
The 18 finalists, announced again this year by the group’s avatar Livi – Virtual Innovation Insider – are competing for the 7th edition of the LVMH Innovation Award, a major competition for innovative solutions responsible for co-creating the conditions for a desirable future for luxury. In addition to the Grand Prix, each candidate is ranked in one of six categories, all of which address business issues for the industry: employee experience, distribution, industrial excellence, customer experience, brand image, and sustainable development.
This year again, the competition has generated a large number of applications. Olivier le Garlantezec, Global Digital & Tech Partnership Director at LVMH, praised the fact that “we attracted more than 1,320 candidates from 75 countries.” This figure is up from 950 start-ups who responded to the call in 2022. This a sign that luxury is increasingly credible in seducing the tech ecosystem.
The LVMH Innovation Award 2023 will also see the presentation of a special Data and AI prize, technologies at the heart of the public debate, and the challenges of personalizing the customer experience in luxury. This theme is also reflected in the choice of finalists.
This choice should not obscure the sector’s ecological transition challenge, which is reflected in the new brand platform, Savoir Faire Rêver.
On this subject, the group evokes “the Group’s fundamental vocation: that of making people dream through exceptional products and experiences created by its Houses, but also that of committing to a world of solidarity, sustainability, and desirability, a condition for a sustainable dream.”
While Luxury is committed to providing excellence in execution to its customers, it also cares for its employees. The group revamped its employer brand a few months ago under the slogan “It’s Everyone’s Business,” highlighting HR solutions to enhance the employee experience.
Featured photo : © LVMH