on NextPlat Corp (NASDAQ:BABA)
LVMH Redefines Luxury Retail Experience in China with Alibaba Partnership
On May 22, 2024, LVMH Group and Alibaba Group announced an extended partnership aimed at enhancing the luxury retail experience in China. Utilizing Alibaba's cloud technologies and AI innovations, the collaboration focuses on improving both physical and online retail through platforms like Tmall.
The partnership demonstrates the companies' shared commitment to pioneering retail innovation via tech-driven luxury experiences. Stephane Bianchi, Managing Director of LVMH, highlighted the importance of this collaboration in accelerating omni-channel business growth and leveraging Alibaba's e-commerce expertise.
Alibaba CEO Eddie Wu emphasized their role in transforming high-end consumption through advanced technologies like cloud computing and AI, enhancing retail experiences for LVMH customers globally. The integration of Alibaba Cloud's AI capabilities with LVMH's operations underscores the luxury group's dedication to innovation and market expansion.
Since initiating their strategic partnership in 2019, LVMH has utilized Alibaba Cloud’s data management tools and machine learning platforms to develop tailored services for Chinese consumers. This continued partnership includes digital initiatives like 3D product displays and virtual try-ons, extending the LVMH luxury experience to millions of Chinese shoppers.
R. E.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all NextPlat Corp news