During the Viva Techno! Ogy 2022 salon, which took place in Paris, Lvmh (Moët Hennessy Louis Vuitton) revealed the winners of the sixth edition of the Innovation Award: MarqVision is the new generation intellectual property protection platform based on artificial intelligence .
Over the past six years, the LVMH Innovation Awards program has been one of the highlights of the Viva Technology fair, which has itself become a key event for the global innovation ecosystem. With its participation, LVMH recognizes the need to support entrepreneurship and innovation to build a better future for all.
MarqVision's technology comes at a time when the global counterfeiting market is booming: it is expected to grow an additional 50% this year to reach nearly $ 3 trillion in 2023. The company's technology effectively removes end-to-end counterfeits by automating the traditional anti-counterfeiting process. Its AI models detect counterfeits with greater than 95% accuracy and remove counterfeit sales at scale.
Bernard Arnault, CEO & Presidente of LVMH Group confirmed that:
"At LVMH, innovation is our lifeblood. It is what allows us to continuously increase the desirability of our Maisons' products and services."
Among the main customers of MarqVision we also find the US luxury brand Ralph Lauren.
According to news released in spring 2022, the LVMH group held exploratory talks with Ralph Lauren Corporation about a possible acquisition of the clothing brand as reported by several familiar sources. The French luxury conglomerate, which had been hesitant to make acquisitions of big US brands in the past, is now more confident after its purchase of jeweler Tiffany went well. Should the agreement be successful, the LVMH group would significantly strengthen its position in comparison with its historical rival, the giant of the luxury world: the Kering group.
During Viva Tecno! Ogy 2022 Luis Vuitton held several sessions on topics: ENTREPRENEURIAL ECOSYSTEM TO ACCELERATE THE FUTURE OF LUXURY; HOW TO INCREASE LUXURY EXPERIENCES THANKS TO DATA-BASED CUSTOMIZATION and RESPONSIBLE GROWTH AND REGENERATIVE LUXURY.
RESPONSIBLE GROWTH AND REGENERATIVE LUXURY is the topic that we will explore in the next post with Christelle Capdupuy Luis Vuitton Sustainable Development Director. In order not to miss new articles, you create your account and activate Notifications.