Net-A-Porter is set to get some new competition, with LVMH reportedly launching its own e-commerce site this month.
According to the Financial Times, the site will feature all 70 of LVMH’s brands – including Louis Vuitton, Fendi, Céline – and fall under Parisian department store Le Bon Marché (which the group acquired back in 1984).
It’s not the first time the company has tried to set up such a platform. Back in 2000, LVMH launched an online store for luxury designer accessories, apparel and beauty. It was later shut down in 2009 when the group's individual brands began to set up solo online operations.
Not much else is known about the site, with BoF reporting it’s still unknown whether it will operate under a wholesale or market model.
While it may seem a little late in the game to be jumping on board the online retail market, the site is tipped to do very well. McKinsey & Company predict LMVH’s online sales will triple by 2025.