LVMH boss Bernard Arnault has always been openly skeptical about online luxury and even more so of working with marketplaces such as Amazon and Alibaba. With the Chinese government launching a formal investigation into Alibaba’s alleged monopolistic practices, Arnault’s refusal to tie up with the group now looks even more justified.
Caution about China may be part of it, but LVMH is also sticking to its own digital strategy. Online should not be about replacing sales assistants with algorithms, but about building and enhancing personal relationships with customers.
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