French luxury product group LVMH has grown multiple business units here, acquiring Singapore businesses, including Crystal Jade Group, Charles & Keith and Heng Long Tannery.
Since LVMH first came to Singapore two decades ago, the world leader in luxury has hired over 300 professional employees working in Singapore, one of LVMH’s two Asia Pacific hubs.
Apart from housing its regional headquarters in the country, LVMH also undertakes research to better understand the diverse consumer behaviour in Asia. The regional HQ controls and services operations in the region, such as merchandising, e-commerce, retail, supply chain and shared services.
Its Asia Pacific Talent Development Centre, set up in 2013 to serve both store managers and group leaders, has trained over 500 staff from the region, including Japan, Vietnam, Hong Kong, Malaysia, and Singapore.
The logistics hub in Singapore not only handles regional distribution and supply chain management, but also value-added services such as customising product range, labelling, repacking and kitting for promotion operations.
Together with Singapore Management University (SMU), LVMH has also established the LVMH-SMU Asia Luxury Brand Research Initiative. It is aimed at producing independent and high quality academic research that can help the group identify opportunities and address challenges in the luxury brand sector and the Asian market.
LVMH also owns Sephora, a chain of cosmetics stores. In 2015, Sephora acquired homegrown beauty and cosmetics start-up Luxola, subsuming its assets, infrastructure and talent into its business by transforming it into the Sephora digital arm.