French luxury company LVMH has announced a new lifestyle and experiential e-commerce platform, dubbed Clos19, for its Moët Hennessy wine and spirits brands, Business of Fashion reports. Clos19 launched on Wednesday in the U.K. and will expand to Germany this summer and to more areas in the future.
The new venture, which sells wine and spirits, includes 24-hour delivery in some areas and offers experiences like editorial content, tastings and parties, is led by Stephanie Watine Arnault, niece of LVMH CEO Bernard Arnault, according to the report.
The company’s wines & spirits unit has been one of its best performers, growing 13% in the first quarter, part of a surge in overall revenue.
The Clos19 effort builds on the company's decades of history in wine and spirits, emphasizing hospitality and lifestyle and bringing it into the digital sphere. “The whole concept behind Clos19 is around sharing and championing the art of hosting,” Watine Arnault, told Business of Fashion. “It gives more immediate and sophisticated access not only to our exceptional products, but also provides the services, accessories and experiences that enable our audience to become the perfect hosts.”
LVMH enjoys a highly diversified portfolio of goods, and all segments did well in the the first quarter. The company seems determined to focus more on high fashion and luxury experiences. In a rare move, the company last year sold its Donna Karan brand to G-III Apparel Group, Ltd, inking the second sale it has made in 30 years. The brand was the first major American designer label for the company, and one of LVMH's biggest moves into the ready-to-wear industry.
Earlier this week, LVMH announced that it would acquire Christian Dior Couture from Christian Dior for an enterprise value of €6.5 billion, a move aimed at strengthening LVMH’s Fashion & Leather Goods, according to LVMH chairman and CEO Bernard Arnault. Earlier this month, the company reported quarterly earnings that beat expectations and signaled something of a comeback for luxury. Its first quarter revenue rose 15% to €9.9 billion. Organic revenue growth (with comparable structure and constant exchange rates) was 13% over the year-ago period. Positive growth was achieved in Asia, Europe and the U.S.
During the quarter, LVMH benefited from a favorable comparison base, particularly in Europe, where activity was affected last year by the impact of the November 2015 attacks in Paris. As a result, the company said the trend currently observed cannot reasonably be extrapolated for the full year. Still, investors warmed to the company’s prospects after that report, sending shares to a record high in Paris trading.