Inside LVMH Final Quiz - Questions and Answers Management of Fashion And Luxury Companies| Inside LVMH Final Quiz - Questions and Answers What
... [Show More] 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 there within 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. - Establishing 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 customized 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 The Second Pau Ruinart initiative aims at promoting Sustainable innovation by rethinking the way Ruinart produces champagne False What is the goal of the Bee Respect platform? A platform that offers more transparency on the supply chain and whole life cycles of Guerlain products Which of the following statement is NOT a pillar of social responsibility at LVMH? - Providing access to digital for all What is equity about? It's about fairness based on individuals varying life experiences. How can you help your (future) organization harness diversity in a way that promotes greater inclusion? - Being aware that out-group bias exists and we are all prone to it. - Acting as an ally when you see inequity or exclusion - Being open to difference and learning helps counteract exclusion. The circular economy is a free market system in which temporary positions are common and organizations hire independent workers for short-term commitments False The goal of the IME (Institut des Metiers d' Excellence) is to Transmit savoir-faire Which of the following statements are Guerlain's nature-driven guiding principles? - Innovating sustainably -Acting for climate -Preserving biodiversity -Creating positive social impact According to Fabrizio Buonamassa from Bulgari, design can be seen as art applied to industry Yes According to Alice Litscher, what are the 3 steps of the creative process? Collecting - Experimental- Making At Louis Vuitton, what does every design project start with? Researching What fields are included in the ASCEND framework presented by Thomas Serdan which organizes the understanding of creativity? Arts, Science, Engineering, Design When creating a new perfume, Thierry Wasser first tries to Understand where the concept of the perfume comes from. According to Carole Blidé, her first role as marketing and communication Director for Veuve Clicquot is to engage customers and make Veuve Clicquot the most desirable Champagne brand [Show Less]