EU Summit on Innovation Welcomes Guerlain and Dom Pérignon

  EU Summit on Innovation Welcomes Guerlain and Dom Pérignon

Business Wire

BRUSSELS -- March 10, 2014

Today, Thierry Wasser, Perfumer of Guerlain, and Richard Geoffroy, Cellar
Master of Dom Pérignon, have addressed the European Innovation Convention
along with Nobel Prize winners, over a hundred CEOs and leading global
thinkers. By sharing their stories, the creative minds of the two Maisons of
the LVMH Group highlighted that culture and innovation are key drivers of the
European economy.

Thierry Wasser called on young people to look at the métiers d’excellence as a
source of inspiration for their professional future: “There is great hope for
young people as luxury Maisons like Guerlain, Loewe, Berluti etc. are looking
for emerging talents who want to hone their craftsmanship skills and develop
their creativity. By investing over €700 million per year on training
programs, high-end industries contribute to the creation and perpetuity of the
savoir-faire that is a cornerstone of European cultural values”.

Richard Geoffroy stressed the essential role played by the ‘made in Europe’ to
create poles of excellence and networks of tourism: “We act as ambassadors of
European values such as innovation, creativity and quality on the world stage.
87% of foreigners come to Europe because they dream about our Continent and
they want a piece of it. I’m proud that the ‘made in Europe’/’made in’
European countries remains a main point of reference that attracts tourists
from all over the globe”.

With European brands representing 70% of the global market, high-end
industries, and LVMH in particular, play a key economic role in Europe. Thanks
to a unique model based on non-relocatable production, and an exceptional mix
of heritage and innovation, this “Silicon Valley” of Europe drives growth and
jobs while continuously investing in culture and creativity. This is the
reason why the upcoming European Council of 20- 21 March 2014 will emphasise
their essential role as a model for the renaissance of Europe’s industry.

European high-end cultural and creative industries

Some figures :

  *European brands represent 70% of the global market;
  *€440 billion annual output, which represents 3% of the EU GDP;
  *Employ 1,5 million people;
  *Export on average 60% of their production, which represent over 10% of
    total EU exports (€260 billion). For LVMH Maisons, it goes up to 75% of
    total production exported.

Some key documents:

  *Communication from 26 September 2012 on “Promoting cultural and creative
    sectors for growth and jobs in the EU”. COM(2012) 537 final.
  *European Commission Staff Working Document from 26 September 2012 on the
    “Competitiveness of the European high end industries”. SWD(2012) 286
  *Communication from 22 January 2014 “For a European Industrial
    Renaissance”. COM(2014)14/2.
  *Frontier Economics study on “The value of the cultural and creative
    industries to the European economy”.
  *TNS Sofres study on “European Citizens’ Perception of the High-End
    Cultural and Creative Industries”.


LVMH Group
Belgium & EU
Nathalie Van Ypersele, +32 478 20 10 62
Sonia Fellmann,+33 1 40 70 11 89
Matteo Steinbach,+39 02 89055106
United Kingdom
Claire Maloney,+44 207 307 5341
Molly Morse,+1 212 521 4826
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