Save Your Wardrobe’s triumph at the 2023 LVMH Innovation Award Grand Prize demonstrates the startup’s commitment to sustainability and circularity in the fashion industry.
Save Your Wardrobe joins the prestigious list of grand winners of the LVMH Innovation Award. LVMH has announced the winners for the 7th edition of the LVMH Innovation Award, during a ceremony that recognized seven startups. Following the jury’s deliberations, Bernard Arnault presented the Grand Prize to the startup Save Your Wardrobe, a tech-enabled clothing care and repair platform. The awards ceremony punctuated once again by the now expected presence of LIVI, LVMH’s innovation virtual ambassador.
Save Your Wardrobe, a tech-enabled clothing care and repair platform, emerged as the recipient of the prestigious Grand Prize at the 7th edition of the LVMH Innovation Award. The award ceremony, held during the 2023 Viva Technology event in Paris, France, celebrated the achievements of seven startups that demonstrated innovation and potential to shape the future of luxury. Save Your Wardrobe’s victory in the Sustainability & Greentech category and subsequent recognition as the Grand Prize winner underscored its unique value in the fashion and luxury world.
Record-Breaking Participation and Selection Process
The LVMH Innovation Award has solidified its position as one of the most esteemed accolades for startups, as evidenced by the record-breaking number of applications received this year. Over 1,300 startups from 75 countries vied for the award, with more than 250 specifically competing in the Sustainability & Greentech category. From this pool, 18 finalists were shortlisted and showcased in LVMH’s pavilion, the “Dream Box,” at VivaTech.
Categories and Deliberations
The finalists competed in six distinct categories, namely Employee Experience, Diversity & Inclusion, Image & Media for Brand Desirability, Immersive Digital Experiences, Omnichannel & Retail, Operations Excellence, and Sustainability & Greentech. After thorough deliberations by the jury, Save Your Wardrobe was awarded the Grand Prix of the 2023 LVMH Innovation Award alongside five other winners.
Significance of Save Your Wardrobe’s Win
Save Your Wardrobe’s recognition as the Grand Prize winner signifies its contribution to the fashion and luxury industry’s pursuit of sustainability and circularity. The London-based startup offers a digital platform for clothing care, repair, and digital wardrobe management. By providing seamless booking and management of aftercare services, integrated logistics, and live data reporting, the platform aims to increase the lifespan of garments. Save Your Wardrobe’s flexibility allows it to be seamlessly integrated into various channels, including in-store, online, and existing CRM systems of brands.
Acknowledgment from LVMH and Growth Opportunities
Bernard Arnault, Chairman and CEO of the LVMH group, emphasized that Save Your Wardrobe joins the esteemed list of grand winners who have made LVMH’s Maisons increasingly desirable and delivered striking experiences. The startup aligns perfectly with LVMH’s environmental roadmap, LIFE 360, and represents the group’s ambition in creative circularity. Save Your Wardrobe’s Founder and CEO, Hasna Kourda, expressed the significance of winning the award, stating that it fuels their determination to push the boundaries of the luxury experience while preserving and extending the legacies of LVMH’s Maisons.
Opportunities for Save Your Wardrobe and Other Winners
As the winner of the Grand Prize, Save Your Wardrobe will benefit from personalized support for a full year at La Maison des Startups LVMH, the group’s business acceleration program at Station F in Paris. Additionally, all other winners and finalists of the LVMH Innovation Award gain increased visibility and access to LVMH’s Maisons’ unique ecosystem. This creates a platform for potential collaborations between LVMH luxury brands such as Tiffany & Co., Christian Dior, and Bulgari, and innovative startups exploring new business models and technologies.
2023 prizewinners by category:
Employee Experience & D&I: Neobrain
Internal mobility-oriented AI strategic talent planning suite for HR teams Neobrain is a digital platform based on Artificial Intelligence to help companies allocate the right skills, to the right place, at the right time. Skills and motivations are at the heart of Neobrain, which responds to three key needs within organizations: foster employee engagement and retention; increase internal mobility; align employee skills with the company’s strategy. With its Intelligent APIs, Neobrain interacts with other HRIS, such as Workday, SAP SuccessFactors, Personio, and Oracle, to name a few.
Image & Media for Brand Desirability: VidMob
Creative video analytics giving actionable recommendations for better ad performance.
VidMob Vidmob is the leading creative effectiveness platform for enterprise marketers. They use AI to analyse digital ads and offer actionable insights to make creatives work better.
Immersive Digital Experiences: Absolute Labs
Web3 CRM platform that analyses blockchain for NFT pricing definition, web3 marketing and wallet messaging.
Absolute Labs has created the first blockchain analytics and web3 marketing automation platform. The aim is twofold. They help brands drive NFT pricing strategies based on relevant blockchain analytics. Also, by identifying market trends and carrying out relevant customer segmentations, they enable the automation of marketing campaigns to these customers via their wallets. This represents a new marketing channel tailored to a web3 audience.
Omnichanel & Retail : Save Your Wardrobe. Also winner of the Innovation Award Grand Prize.
Operations Excellence : LivingPackets
Smart reusable, secured and connected packaging with tracking, insurance and payment features
LivingPackets kicked things off in December 2016 as a small research team developing THE BOX, based in Nantes, France. Since then, we’ve grown to a team of nearly 70 people. Their smart, secured and reusable packagings are protected with more than 40 patents and our flagship product THE BOX was named the “product with the greatest potential to change the world” at CES 2020 at Las Vegas.
Sustainability & Greentech: Woola
Packaging made of leftover sheep wool to reduce plastic waste
Founded in 2020, Woola uses waste wool to replace plastic bubble wrap. The company’s products are used by retailers to ship fragile goods, from cosmetics and skincare to jewelry and fashion accessories. Headquartered in Tallinn, Estonia the company has raised a total of €3M in venture capital financing from Future Ventures, Lemonade Stand and a number of angel investors.
Data & AI Special Prize: ChatLabs
AI-powered hyper-personalized and highly-converting social commerce experiences
ChatLabs’ generative journeys, uses the power of AI to allow brands to tell their stories and share their values in a hyper-personalized manner, by creating a unique customer experience for every individual. Brands can now direct their traffic from social media to an elevated contextual consumer experience, that engages them in a creative and more meaningful manner and puts them on a tailored path towards a particular brand goal.
All the finalist startups are invited to join the acceleration program at the Maison de Startups, the luxury Group’s innovation incubator, where they will benefit from personalized mentoring to help them develop their offers and expertise in liaison with LVMH and its 75 Maisons.