American Marketer

Software and technology

LVMH whittles down tech finalists from more than 500 submissions

May 25, 2017

Virtual reality at LVMH's Luxury Lab during Viva Technology in 2016


French luxury goods conglomerate LVMH has named 32 finalists for its inaugural LVMH Innovation Award.

LVMH is holding its Innovation Award to help move the luxury industry forward through the financial support of young companies. The prize is meant to open doors for startups, allowing the winner to break into the luxury industry through meetings with LVMH houses and other potential collaborators (see story).

In the Luxury Lab

In 2016, Paris' Viva Technology digital showcase drew 45,000 participants and 5,000 startups. LVMH itself hosted 40 startups in its Luxury Lab, a returning booth for the upcoming event.

LVMH selected 32 startups as finalists after receiving more than 500 submissions for the Innovation Award.

Now that the finalists have been selected, the 32 startups will exhibit their solutions and pitch these business models at the LVMH Luxury Lab during Viva Technology June 15-17.

The finalists include startups from France, the United Kingdom, Canada, Finland, the United States, China, Denmark and Switzerland.

Here are LVMH’s 32 finalists:

42 Technologies - which has created an intuitive dashboard for retailers

Biowatch - a startup that turns a watch into a secure source of identification for keyless car entry and access to bank accounts, for example

Cappasity - develops 3D images for enhanced online shopping experiences

Cosmose - an identifier of consumer behaviors on and offline

Crossing Minds - a cultural discovery platform for personalized recommendations

Cypheme - detects a counterfeit product by analyzing tags via a mobile phone camera

Daumet - a developer of an innovative alloy production process - enables same-day shipping and returns chosen by the consumer

Diakse - a virtual reality showroom creator

Early Birds - personalizes the customer experience for increased sales

Easysize - analyzes product returns

Enviro-cool commercial - chills beverages in only a few minutes

Fitskin - analyzes skin to find the right shades for each skin tone

Heuritech - a virtual assistant trend detector that understands consumer tastes

Ink & Out - a nail polish that changes color with hot water or a hair dryer in 10 seconds

Linc global - brings together real-time logistics, data feeds and service engines during online purchases to strengthen customer relations

Loomia - makes a smart fabric

Bergamotte - selects flowers from a network of artisanal producers for delivery anywhere in France from its Paris workshop - a chatbot for fashion that finds products and styling inspirations by uploading images

Myoeno - a connected scanner that reads wine labels and shows the characteristics of the wine - connects students, professionals and talent-hungry startups for digital projects

Optiwine - a patented decanter that brings wine to the pinnacle of its potential and reveals all its aromatic qualities thanks to nano-aeration

Paptic - a durable, light and affordable material that replaces paper and plastic

Q°emotion - captures emotions in customer feedback to transform it into actionable and predictive data

Sericyne - produces a natural silk using a unique technique where silk is shaped by the insect that produces it

Skyboy - a technology that optimizes the effects of augmented reality

Smartzer - a video player that adds clickable hotspots to video content

Tribe Dynamics - helps brands measure earned media value, identify and manage influencers

Unmade - lets brands offer customizable products

V-cult - a designer of 3D Web and 360-degree video streaming and virtual reality experiences to enhance brand storytelling and boost marketing performance

WeVat - makes it easier for international travelers to shop tax free

Woodoo - rebuilds wood at the molecular level to transform it into a high-performance material

LVMH will select a winner from the above list on June 16.

The winner will get to meet with management at relevant LVMH houses as well as the private equity investment teams at the conglomerate. While not promised, the winner has the possibility of starting a commercial partnership with LVMH and its brands.

“Support for young businesses is a tremendous driver for excellence across LVMH and a major source of innovation that contributes to the success of our maisons," said Bernard Arnault, chairman/CEO of LVMH, in a statement.