The company launches new innovative platform Nona Source in 2021
On April 26, 2021, LVMH launched Nona Source, an online-based resale platform for reselling materials that came from the company's Fashion & Leather Goods Maisons. According to the company, this new platform gives young designers access to high-quality materials at a competitive price that would have likely otherwise gone to waste. Additionally, this new platform is set to help the company enhance its product offerings by giving consumers an easier way to find materials from the company, encouraging consumer interaction with the company.
ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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