Luxury goods group LVMH Moët Hennessy Louis Vuitton said there was "no way" it would do business with Amazon even though the Internet retailer was keen to take on more high-end brands. Amazon currently sells mostly so-called "accessible luxury" brands, such as Michael Kors, Calvin Klein and Kate Spade, but LVMH - parent to Louis Vuitton, Givenchy, Celine, and Marc Jacobs - said it did not think it was an appropriate platform for its luxury brands.
"We believe the business of Amazon does not fit with LVMH full stop and it does not fit with our brands," LVMH Chief Financial Officer Jean-Jacques Guiony told investors in a conference call on Tuesday, after the group announced unexpectedly robust quarterly sales. "There is no way we can do business with them for the time being."
Amazon has been growing its fashion, jewelry and watch retailing in recent years but failed to attract heavyweight luxury brands as they are concerned the U.S. retailer's product presentation and discounts could damage their image. LVMH and other luxury goods groups, such as Chanel and Richemont fought hard to obtain the right from the European Commission in 2010 to refuse partnering with certain websites, citing worries about pricing and counterfeits.
(Reporting by Paris Newsroom; Editing by Susan Fenton)