LVMH hires top Apple executive to head digital
Luxury giant LVMH has recently hired Ian Rogers, a former senior Apple executive who led the development of Apple’s Beats1 radio service and guided Apple’s online radio strategy. Roger will take on the role of chief digital officer at LVMH.
It’s one of the surest signs to date that LVMH, and luxury more broadly, is getting more serious about embracing digital. A report by McKinsey (pdf) found that, while overall sales of luxury goods increased just 2% in 2013, online luxury sales jumped 20%. The consulting firm projects that online sales “will more than double to approximately €20 billion [$22.5 billion] in the next five years.”
Another McKinsey report states that “nearly half of luxury goods buying decisions are already influenced by what consumers hear or see online.” By 2018, it projected, global online sales of women’s luxury fashion will jump from 3% of the total market to 17%, totaling $12 billion.
Previous ‘exchanges’ between Apple and luxury companies included former Burberry CEO Angela Ahrendts and Saint Laurent CEO Paul Deneve – who joined Apple ahead of the Apple Watch launch.
Apple Watch window installation at Selfridges London