LVMH is making its way to Tinseltown, establishing a foothold in film and television to drive brand visibility and relevance.
The luxury giant, owner of Louis Vuitton, Moët Hennessy, Tiffany & Co., Christian Dior and many others, shared plans for its new venture, 22 Montaigne Entertainment, created in collaboration with media business consultancy Superconnector Studios.
The division aims to enhance the company’s marketing strategies across its brands in the realm of entertainment, Reuters reported Thursday (Feb. 22). The company will work with prominent entertainment industry figures to co-develop, -produce and -finance media including films, television series and audio content.
The luxury giant is not the first high-end fashion company to get into film. Last year, for instance, French fashion house Saint Laurent launched its production company, aptly named Saint Laurent Productions, and released its first two short films, Pedro Almodóvar’s “Strange Way of Life” and a posthumous Jean-Luc Godard release, “Trailer of the Film That Will Never Exist: Phony Wars.”
Plus, luxury mogul Francois-Henri Pinault, CEO of Kering, which owns Gucci, Saint Laurent, Alexander McQueen and others, purchased a majority stake in major Los Angeles agency Creative Artists Agency.
Media placements can go a long way toward directly boosting brands’ sales, as other luxury companies have seen. For instance, the film “House of Gucci” reportedly led to a surge in searches for the brand’s products, such as a “257% increase in demand for Gucci bags.”
Brands have long been turning to entertainment to boost performance. Take, for instance, simple product placement, with brands often paying for their products to be prominently featured in TV shows and movies to keep them top-of-mind for consumers. Plus, brands often create tie-ins with TV shows or movies by offering related products or launching marketing campaigns that coincide with the release of a new film or TV series.
Additionally, entertainment viewing is becoming increasingly entwined with commerce, with opportunities for further integrations going forward, as suggested by PYMNTS Intelligence’s study “How We Will Pay Report: How Connected Devices Enable Multitasking Among Digital-First Consumers.”
The report found that of the 95% of consumers who own connected devices, one-third would be interested in an internet-connected buying experience wherein, if they are watching their favorite livestreamed series on an iPad or mobile device and they want to purchase an item of clothing or jewelry that they see on one of the actors in the series, they could touch the screen to navigate to the product page and complete the purchase.
LVMH’s latest initiative not only underscores the luxury giant’s pursuit of new marketing opportunities but also reflects a broader trend among high-end fashion companies to use the power of storytelling and media partnerships to drive sales. With the increasing integration of entertainment viewing and commerce, fueled by advancements in technology, LVMH’s venture into the entertainment industry positions it to capitalize on evolving consumer behavior.
For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter.
