Luxury giant LVMH renews and expands its partnership with Alibaba for five years, to strengthen its presence in China. This strategic agreement leverages Alibaba’s artificial intelligence and cloud technologies to deliver innovative, personalized luxury experiences.
On the sidelines of the VivaTech trade show in Paris, global luxury goods giant LVMH announced on Wednesday May 22 that it has renewed and extended its partnership with Alibaba, China’s leading e-commerce and technology company, for a further five years.
The agreement aims to strengthen LVMH’s presence in China by leveraging Alibaba’s technological advances, particularly in artificial intelligence (AI), cloud solutions and through the Tmall e-commerce site.
LVMH and Alibaba, having begun their collaboration in 2019, share a common commitment to innovation in retail. “Alibaba is already a key partner of our Houses and the Group. Strengthening this partnership will help us further accelerate the growth of our omnichannel business and continue to benefit from the transformative capabilities of Alibaba’s cloud and AI technologies, as well as their globally recognized expertise in online retail operations,” said Stéphane Bianchi, Executive Vice President of LVMH.
This extended collaboration will enable LVMH to offer innovative and personalized luxury experiences, both online and in its stores. “These will enable LVMH to increase its omnichannel, technology and data presence in China,” says the release.
No financial details were disclosed for this expanded partnership.
Integration of Alibaba’s AI technologies
A key element of the agreement is the integration of Alibaba’s advanced AI technologies, including Qwen, Alibaba’s proprietary “large language model” (LLM), and Model Studio (Bailian), a comprehensive AI model-building platform.
“Now, with AI and generative AI, we’ll be able to send targeted messages based on customers, automatically write product sheets, get more relevant information on the buying journey… This will support and augment all our teams,” says Franck Le Moal, Chief Information and Technology Officer (CTIO) at LVMH.
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Featured photo : © The Business of Fashion
