Although this year’s show had to be cancelled due to the COVID-19 pandemic, LVMH decided to maintain the award in a 100% digital version broadcasted on its website. The winner of the LVMH Innovation Award 2020 edition was the Dutch startup Crobox, which presented a project to analyse consumer behaviour.
The LVMH Innovation Award ceremony, normally held at the Viva Technology show, was broadcast on the LVMH group website. From more than 1,200 applications, we reported the 30 chosen startups as finalists. The projects put forward aimed to make online brand-client interactions more fluid and meaningful, or to offer innovative solutions to help protect the environment.
The ceremony singled out three startups: Crobox, Desserto and Onestock. Crobox analyses the behaviour of consumers in order to tell brands what clients like about their products, thus enabling them to highlight those features that will encourage purchase. Desserto produces a vegan leather from cacti cultivated in Mexico, while OneStock has devised an innovative stock unification service which makes products available across all sales channels.
The eventual winner, Crobox, was founded in the Netherlands in 2014 by Leonard Wolters, Rodger Buyvoets and Sjoerd Mulder, and has enjoyed great success ever since. Its brand solution is based on a simple observation: not all clients purchase a product for the same reasons. One client will buy a coat because it is warm, while another will choose it because it is beautiful. How, then, can a brand highlight the most relevant feature for each consumer? This is where Crobox comes in: it analyses their behaviour in order to identify the qualities they pay most attention to. Crobox then adapts the sales pitch to the client’s individual expectations. The startup will now collaborate with the LVMH group for a year, providing concrete solutions to the challenges faced by its Maisons.
View the LVMH Innovation Award 2020 ceremony here.
LVMH will be back at next year’s Viva Technology show, scheduled to take place on 17-19 June 2021.