Luxury Daily has announced the sector's most prestigious honors for 2022: LVMH is Luxury Marketer of the Year, Saks is Luxury Retailer of the Year, Vogue is Luxury Publisher of the Year, Bain is Luxury Market Researcher of the Year and Bernard Arnault is Luxury Personality of the Year.
In a year of geopolitical uncertainty, pandemic lockdowns in China and returning global travel, one sector stood out for its stellar growth: luxury. Within that ecosystem, some bold companies and brands were responsible for propelling growth to new heights, convincing consumers that luxury values identified with theirs and that culture was the new coin of the realm.hands out each year.
LVMH pays attention to nurturing talent through its eponymous prize, supports the arts and craftsmanship, and boasts initiatives to encourage minority and female participation across the company’s brands. While other holding-company competitors such as Gucci owner Kering and Cartier parent Richemont have similar efforts, what LVMH has is scale and the ability to impact across industry sectors and geographies, given its thousands of stores worldwide.
Through its exclusive partnership with Saks Fifth Avenue stores , Saks provided services no other digital pureplay can: alterations, buy online and pick-up in store, among other features. “By harnessing the power of data-driven technology to personalize these interactions, we are able to further develop lasting and meaningful customer relationships,” she said.
Saks presented its first immersive shopping experience in Aspen, CO, bringing its assortment and services to a new market, and hosting top clients and tastemakers for unique experiences. It also presented a Saks Live, giving viewers virtual access. The program has proven successful, with brands such as LaQuan Smith, BruceGlen and Alejandra Alonso Rojas graduating from its inaugural year.Saks also unveiled Saks Beauty Recycling in partnership with TerraCycle, empowering customers to embrace sustainable practices. As the only retailer offering this online, Saks provides a convenient solution giving empty beauty containers a second life through both Saks.com and SFA.
“As a standalone ecommerce company, we’ve had an opportunity to reshape the way consumers engage with Saks,” Ms. Essner said.
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