LVMH has launched its latest venture, La Maison des Startups. The accelerator initiative’s aim is to be the start of a “megacampus” for young labels. WWD reports that the company will bring over 50 international start-up brands a year in two six-month placements, growing these brands and helping them collaborate with LVMH’s roster of 70 brands.
The program was fine-tuned through the conglomerate’s other initiative, the LVMH Innovation Award, where it initially came across the brands it decided to support. The start-ups will focus on fashion, but will include companies specialising in AI, augmented and virtual reality, e-commerce, anti-counterfeiting and sustainability.
In related news, it was recently reported that LVMH’s founder, Bernard Arnault, is now the richest person in fashion.