LVMH and Prada invest in human resources
Luxury conglomerate LVMH Moët Hennessy today opened a managerial training center in Singapore, its first outside of Europe. The LVMH Asia Pacific Talent Development Centre will focus on developing management talent in Singapore, Hong Kong and Shanghai. The roughly 6,000-square-foot facility houses numerous training rooms, as well as glass displays of flagship goods from most of LVMH’s stable of labels.
LVMH said that the center would train managers from various levels, most of them from Singapore, Hong Kong and Shanghai. It will host mentoring programs, case study sessions and also collaborate with the likes of INSEAD’s Singapore campus, the National University of Singapore and Singapore Management University on researching luxury brand management. Chantal Gaemperle, LVMH’s Group Executive Vice President for Human Resources and Synergies, indicated that the center would also play a role in assisting high-level management transfers within the “LVMH eco-system.”
Patrizio Bertelli, co-owner and CEO of rival Prada Group recently told Italian media tha the company has been investing in its workforce both in Italy and abroad. As of September, the group counted 9,732 employees, compared with 8,061 in December 2010. In Italy, the number of workers has grown to 3,564 from 3,341, with a strong increase in the retail and corporate areas. “The average wages in our group are 30 percent higher than the average pays in the country,” said Bertelli, adding that he has “no intention to move know-how and production in low-cost countries.