French luxury group LVMH has launched an initiative focused on fostering start-ups, with plans to support 50 international businesses each year.
The project, called “La Maison des Startups”, will be based at Station F, which is its start-up “campus” in Paris.
Through the initiative, LVMH aims to speed up collaboration between entrepreneurs and its 70 brands on inventing new products and services for the luxury market.
The campus, which measures 2,370 sq ft, houses 89 workspaces for start-ups.
The start-ups will join the campus in six-month terms. More than half of them are identified through the LVMH Innovation Award.
Bernard Arnault, chairman and CEO at LVMH, said that innovation forms “an integral part of the history of our Maisons, which are often centuries-old”.
LVMH chief digital officer Ian Rogers added: “Collaborating with start-ups helps us stay abreast of both business opportunities and ways of working. A healthy start-up ecosystem is necessary for a healthy industry.”