LV: Multifaceted innovation broadens the scope of brands
At the start of 2023, French luxury conglomerate LVMH announced that Pietro Beccari will succeed veteran Michael Burke as president and CEO of flagship brand LV. In a statement, LVMH chairman Bernard Arnault expressed confidence in Beccari's ability to lead LV to greater success and popularity.
Beccari has met the high expectations set for him, with three shows in the following four months in Paris, France, Dive Bridge in Seoul, South Korea, and Pont Neuf in France. In December 2023, LV chose to hold its Men's Early Autumn 2024 collection show in Hong Kong. The event also demonstrated Beccari's ability to lead his team in high-intensity work and his strategy for expanding the brand's influence in new markets.
Beccari is open about his ambition to become a global leader: "We want to be the undisputed leader in every country in the world." From his time as a footballer to his current role as CEO, he has consistently demonstrated the attributes that all managers value: authenticity, genuineness, dynamism and a willingness to go above and beyond.
Beccari's entrepreneurial spirit has enabled him to take calculated risks with each company he has worked with. In the mid-1990s, he played a pivotal role in organising a football championship at the Giants Stadium in New Jersey, for which he invested heavily. He has achieved remarkable feats, including organising a Fendi fashion show at the Trevi Fountain in Rome and a Dior fashion show at the pyramid complex in Giza, Egypt. Each of his ventures has been so successful that he has led Fendi and Dior on a growth trajectory that is the envy of the industry. "If you don't take risks, you don't have the rewards," he told the press. "I always say to my team, 'If you have everything under control, it means you're not going fast enough.'"
How does Beccari maintain Louis Vuitton's position as the industry leader in a highly competitive market? ‘To achieve this, we will be increasing our visibility in people’s lives, not just selling products and opening shops around the world.’ Beccari is of the opinion that the future of the brand lies within. Innovation, sport, positivity and optimism are the values that define the LV brand and must be communicated to the public in a coherent, substantial and in-depth manner. ‘I believe that consumers are not simply purchasing a product; they are identifying with the values represented by the brand. Our brand stands for a number of values, including emotion, depth, and diversity of values. These are the hallmarks of luxury brands.
At the outset of his tenure, Beccari identified LV's original brand asset as the spirit of travel. Since its inception, Louis Vuitton has been synonymous with the art of travelling in style, a reputation that was established by its founder, Louis Vuitton, with the design of his revolutionary suitcase. Over time, Louis Vuitton has become increasingly associated with travel. As the public's needs for travel have evolved, LV has diversified its product range to meet the evolving needs of the travelling public, while maintaining a balance between practicality and functionality. Mr. Beccari's objective is to delight consumers with a fresh approach that combines the spirit of travel with creativity and connects with cities around the globe.
Beccari has always believed that luxury brands are inevitably classic, and that the classics, being timeless and up-to-date, are refreshed by the constant incorporation of modern elements. "We must respect and cherish our heritage and never forget our roots," he says. However, I believe the brand's strength lies in its ability to combine modernity and tradition. We have consistently championed the modern side of things. Consequently, every decision I make must strike a balance between the values of tradition and the past. The designers have evolved the spirit of LV's travelling from geographic movement to temporal and spiritual change through innovation. From the brand's origins to its present-day identity, from the individual to the collective, this broad sense of 'travelling' makes the core of LV's brand clearer and more diverse.
