LVMH Announces 18 Finalists Poised to Disrupt the Luxury Industry at VivaTech 2023.
LVMH, the world’s leading luxury group, is committed to driving innovation and supporting startups through its annual LVMH Innovation Award. This initiative aims to identify and recognize the most promising startups in the fields of luxury, creativity, and sustainability. This year, the competition attracted more than 1,300 candidates from 75 countries, and the 18 finalists were recently announced.
The finalists, represented by 28% female founders and co-founders, are classified into six categories: Employee Experience, Diversity & Inclusion; Image & Media for Brand Desirability; Immersive Digital Experiences; Omnichannel & Retail; Operations Excellence; and Sustainability & Greentech. The finalists will showcase their solutions at Viva Technology, the world’s rendezvous for startups and leaders to celebrate innovation, from June 14-17, 2023.
LVMH recognizes the importance of supporting startups and entrepreneurs who share their vision and passion for innovation. Through this initiative, they offer a platform for these startups to showcase their solutions to the world and have access to their network of luxury industry experts. Additionally, they provide mentoring and support to these startups through La Maison des Startups LVMH, their business acceleration program.
Viva Technology is a major event in the world of technology and innovation, attracting startups, investors, and industry leaders from all over the world. Created in 2016, the event aims to bring together startups and corporates to drive innovation, and LVMH has been a proud partner since its inception.
The 18 finalists of the 2023 LVMH Innovation Award are all pushing the boundaries of technology and creativity to shape the future of the luxury industry. The solutions they offer range from web3 CRM platforms to smart reusable packaging with tracking and payment features. The finalists are also committed to sustainability and greentech, offering solutions to reduce plastic waste and replace non-degradable polymers in cosmetics.
While this initiative is a positive step towards supporting and promoting innovation in the luxury industry, it is also important to note the potential downsides of such collaborations. Some critics argue that startups may lose their innovative edge by partnering with large corporations, who may prioritize profitability over creativity. Additionally, there is a risk that smaller startups may be absorbed by larger corporations, leading to a loss of their original vision and values.
In conclusion, the LVMH Innovation Award is a commendable initiative that recognizes and supports startups that are driving innovation in the luxury industry. The finalists of this year’s competition are a testament to the creativity and ingenuity of entrepreneurs around the world, and their solutions are poised to shape the future of the industry. However, it is important to approach such collaborations with a critical eye, and ensure that the values and vision of these startups are not lost in the process.
Meet the 18 finalists of the 2023 LVMH Innovation Award
Discover the shortlist:
Employee Experience, Diversity & Inclusion
BADGER: Speech-to-text translations on a smart badge for the Sales Assistant to improve communications with customers having hearing deficiencies
NEOBRAIN: Internal mobility oriented AI strategic talent planning suite for HR teams
SKILLEO: Video game based recruitment platform to improve candidate soft skills pre-assessment.
Image & Media for Brand Desirability
BLOOM: Social data intelligence deeptech for qualitative and predictive insights
VIDMOB: Creative video analytics giving actionable recommendations for better ad performance
WIZALY: Attribution analytics for cross-channel online and offline media campaigns
Immersive Digital Experiences
ABSOLUTE LABS: Web3 CRM platform that analyses blockchain for NFT pricing definition, web3 marketing and wallet messaging
FOSFOR: A phygital full body 3D holographic screen to enhance in-store experiences
METAV.RS: A platform allowing to manage Web3 strategies through 3D experiences and gamification.
Omnichannel & Retail
CHATLABS: AI-powered hyper-personalised and highly-converting social commerce experiences
EKOO: Voice product descriptions and reviews on product pages
SAVE YOUR WARDROBE: Repair and care service infrastructure platform provider
APOLLO PLUS: AI for quality control through the fashion production value chain
FABRIQ: Operational performance management solution for factories to improve productivity
LIVINGPACKETS: Smart reusable, secured and connected packaging with tracking, insurance and payment features
Sustainability & Greentech
BIOWEG: Replacing microplastic and non degradable polymers in cosmetics by biobased ingredients
RELEAF PAPER: Sustainable packaging made of dead leaves
WOOLA: Packaging made of leftover sheep wool to reduce plastic waste
Each category will see one startup nominated as the winner in its category, one startup will be reward with a special prize for its works in data and artificial intelligence.
Finally, only one startup will be awarded the “Grand Prize” of the LVMH Innovation Award 2023.
The finalists will join La Maison des Startups LVMH, the business acceleration program, where they will receive support, mentoring, and access to the LVMH network of luxury industry experts.
The ceremony will take place during VivaTech on June 15th.