INSIDE LVMH FINAL EXAM QUESTIONS AND ANSWERS

INSIDE LVMH FINAL EXAM QUESTIONS AND ANSWERS What business sector generated the highest share of revenues in 2021? - fashion & leather goods How many stores does LVMH manage? - 5,500 Which was the first Perfume launched in 1947 by Christian Dior? - Miss Dior What are the key drivers for selective retailing maisons? - - Constant innovation -Personalisation of relationships -Transforming shopping in a unique experience Select the latest Maison who joined the LVMH Watches & Jewelry division. - Tiffany & Co Among the following activities, which one(s) can you find in the other activities sector ? - - Culture -Art -Lifestyle -Hospitality Which is the latest Maison created in the Perfumes & Cosmetics division? - STELLA by Stella McCartney How many Maison are these with in the LVMH Group? - More than 75 How many employees work at LVMH? - 175,000 Eminete is a new Maison of the Wine & Spirits division and offers high qualitative. - Rum What are the core values of LVMH? - - Creativity & Innovation -Entrepreneurial Spirit -Quest for excellence -Sense of commitment According to Bain & Company, by 2025 online sales will represent - More than 30% of the luxury sales Select the appropriate sentences related to LVMH omnichannel strategy - - Omnichannel is a client - centric approach aimed at providing a consistent, qualitative, and seamless customer experience across all channels and geographic. - Establishlising a smooth omnichannel customer experience requires cross collaboration across all teams, departments, and through all activities from warehouses to stores. Looking at distribution, is Brick and Mortar still important part of the luxury story? - Yes Which of the following statements are part of the 6 pillars of the LVMH business model? - - Sustaining savior faire - Creating synergies - Balance across business segments and locations - Decentralized organization Which characteristics may help to measure the luxuriousness of an offer? - - Price - Quality - Scarcity - Signed by brands What challenges can you be faced with when innovating in the luxury sector? - - Integrating the human sensibility within innovation - Finding the right pace of innovation implementing all of the newest tech innovations quickly How are eco-conscious customers adapting their consumption? - - Rediscovering vintage products -Rethinking the products as a service (rental) and not only a good to own Consumers place a greater value on customised products because it answers their need for uniqueness - True From creating value to expressing value-what are the key principles of luxury? - - Consumers have a range of consumption motivations - Consumers tend to express their values through the brands they select - Brands can become powerful personal branding tools as they project clear and strong values - Brands can deliver higher perceived value to their customers by expressing own values. What is one of the most important dimensions of Luxury for Serge Carreira? - True Emotional value... - is about the ability of brands to create affective responses all the way to strong emotions of joy and pride, and to identify and nurture these emotions. To remain relevant, what values must brands respect? - - Sustainability - Quality - Inclusivity Is sustainability the biggest challenge for the luxury industry? - Yes, say experts from Guerlain and Louis Vuitton The environment is the key to the future of luxury. - LVMH drives biodiversity, climate change, traceability and circulating Sustainability and sustainable development can be seen as the ability to meet the needs of the present without compromising the ability of future generations to meet their own needs - Yes Which of the following are part of LVMH's Life 360 Program to positively impact the environment? - - Protect Biodiversity - Fight Climate Change - Participate to the circular economy - Offer transparency For Carole Collet, what are key principles for regenerative luxury - Transition to a regeneration culture where design can actively reserve socio-ecological damage