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Leveraging Digital Transformation: Analysis of LVMH’s Impact on Economic, Social, and Environmental Performance
- 1 The Barstow School Ningbo Campus
- 2 Shanghai Ocean University
- 3 Malvern College Qingdao
* Author to whom correspondence should be addressed.
Abstract
This study analyses the impact of digital transformation on the economic performance of LVMH, the world’s largest luxury goods group. It provides valuable insights for traditional manufacturing companies seeking to leverage digital transformation. The paper illustrates how digital transformation can improve customer experience, increase revenue, and optimize operations by analyzing the success of LVMH in its digital transformation, which has successfully applied digital technologies such as data analytics, artificial intelligence, and e-commerce platforms to optimize supply chains, reduce lead times and improve inventory management, thereby reducing costs and increasing efficiency. At the same time, LVMH puts the customer at the center of its operations. It uses digital technologies to enable personalization, innovative business models, real-time collaboration, and communication, increasing customer loyalty and shaping brand identity. In addition, LVMH emphasizes sustainability, positively contributing to the environment and society by improving supply chain management, reducing waste, and lowering carbon emissions through digital technology.
Keywords
digital transformation, LVMH, performance
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Cite this article
Ji,Y.;Sun,Z.;Xia,Y. (2023). Leveraging Digital Transformation: Analysis of LVMH’s Impact on Economic, Social, and Environmental Performance. Advances in Economics, Management and Political Sciences,33,189-193.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development
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