European multinational luxury goods conglomerate LVMH is reportedly launching a multi-brand e-commerce site this month, offering all of its 70 labels on one platform. In addition, the website will sell other brands, all as a part of Le Bon Marché, the Parisian department store LVMH acquired back in 1984.
In 2000, LVMH initially launched eLuxury as a platform for luxury designer apparel, accessories, beauty and children’s collections. This foray, however, was shut down years later in 2009, as the company's individual brands began to launch their own e-shops.
Worthy of note, online sales grew four times faster than offline sales between 2009 and 2014, which is partially why, although somewhat late to the party, LVMH is trying their hand at online retail once again.
In fiscal 2016, LVMH enjoyed a five precent revenue increase to $40.2 billion USD and profits increase five percent to $7.1 billion USD.
Most recently, LVMH was making headlines for a possible acquisition of Supreme.