LVMH

Innovation Award for Bernard Arnault, Chairman and Chief Executive Officer 

We have selected LVMH as a winner for the 2020 Global Innovation Leadership Awards from the World Retail Forum. The impact of COVID-19 has rapidly transformed the business world. The 2020 Global Innovation Leadership Awards recognize new ideas, leadership, methods, business process, or the introduction of something new that was created in response to the COVID-19 pandemic.

Innovation Award for Bernard Arnault, Chairman and Chief Executive Officer 

In March 2020, as the COVID-19 pandemic forced widespread shutdowns of nonessential businesses, LVMH directed its perfume and make-up factories to make hydroalcoholic gel – hand sanitizer to help in the COVID-19 fight. As COVID-19 impacted Italy, Prada announced it would produce 80,000 medical overalls and 110,000 face masks.  This early and decisive action by LVMH and further action since the outbreak showed LVMH’s leadership and “learning together to recover stronger” for the greater good.  Mr. Arnault’s initial decisive action and follow-up actions relieved the suffering of many and is the reason we have awarded the Global Innovation Leadership Award to LVMH and to Mr. Arnault.

About the Innovation Leadership Awards

The COVID-19 pandemic has made it essential for businesses around the world to take urgent action in order to survive. Companies have been pushed to unprecedented levels of innovation, execution, and teamwork. Presented by the World Retail Forum, the Innovation Leadership Awards celebrate those companies that best exemplify the spirit of “learning together to recover stronger” in the age of COVID-19. The winners have been chosen based on an analysis guided by the eight habits of highly successful retailers that make up the Consumer Engagement Index developed by Retail Store Tours (retailstoretours.com). These are the human touch, the use of technology, shopper safety, store design, brand story, employee training, the ability to change quickly, and unique value proposition.

About the World Retail Forum

The World Retail Forum (worldretailforum.com) was founded in January 2020 in response to the urgent need for real-time information relating to management of the COVID-19 pandemic. Its goal has been to report on best practices so that companies can “learn together to recover stronger.” The World Retail Forum created “On the Frontline,” a thirty-minute live global news broadcast aired semimonthly, to help executives stay abreast of the latest developments. The program uses case studies to highlight key trends, new technologies, and changing business models. All “On the Frontline” programs can be accessed at no charge on the World Retail Forum website.