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Yahoo
10-06-2025
- Business
- Yahoo
LVMH and Google Executives Talk Agentic AI, Cybersecurity and Navigating Volatility
PARIS — When LVMH Moët Hennessy Louis Vuitton revealed in 2021 that it was partnering with Google Cloud to ramp up its AI capabilities, few could have predicted just how quickly the technology would revolutionize every aspect of its business. Fast-forward four years, and cloud-based AI solutions underpin virtually every transaction made by the world's biggest luxury group, which recorded revenues of 84.7 billion euros in 2024. More from WWD Natalie Portman Channels Parisian Elegance in Dior at 2025 French Open Assessing the Opportunities and Barriers in Developing Designer Fragrances From 3D Printing to AI: How the Footwear Industry Is Stepping Into the Future 'Today, our forecasting, budget planning, sales planning, distribution planning, merchandising planning, and even production planning, are all units augmented by applications that use algorithms,' said Franck Le Moal, group IT and technology director at LVMH. In order to ringfence its data, LVMH created its own chatbot, MaIA, which handles 1.5 million requests a month from 40,000 users, according to company data. Though it likes to refer to itself as a 'quiet tech' company, LVMH continues to work with Google to develop new applications for AI and genAI, and — increasingly — agentic AI, which is shaping up as one of the buzzwords of this year's Viva Tech trade fair in Paris, which runs from Wednesday to Saturday. The latter refers to AI systems that can act autonomously toward goals, often taking initiative, making plans and executing tasks across time. For now, LVMH uses agents for internal purposes only, Le Moal told WWD in a joint interview with Anthony Cirot, Google Cloud's vice president for the Europe, Middle East and Africa South region. Le Moal cited the example of a retail agent at fashion brand Celine, capable of answering complex queries from sales associates, and a client outreach agent for jeweler Tiffany & Co. that helps them craft more personalized messages. 'We don't plan to put chatbots on all our websites,' he noted. 'These are luxury sites, after all, and we prefer human interaction.' LVMH is also guarded about Google's moves to harness AI with new functions that act like a personal shopper. The tech giant's new experimental AI Mode, introduced last month, allows consumers in the U.S. to test features that make more sophisticated personalized recommendations. The agentic checkout automatically tracks prices on the selected product listing. It not only notifies users when the item becomes available at their preferred price, but can also complete checkout on their behalf. 'We haven't yet made up our minds about this. We'll see. But I'm not sure it's a good idea to have assistants systematically crawling our web platforms to buy luxury products,' Le Moal said. Cirot said there are plenty of other new functionalities to explore in future, among them improved search functionality using natural language processing, and virtual try-on technology. The partnership with LVMH has benefited from the leaps in AI in the last two years. 'We've seen an acceleration of technologies with genAI, where an application that required around 12 months to 18 months to develop, sometimes with a terrible tunnel effect, can now be delivered in a week,' he said. Cirot lauded LVMH as a 'pioneer' for understanding early the importance of building a strong data corpus. 'We knew that it would very quickly be important to have structured data in the cloud because what customers want to do, and what LVMH is already doing, is to talk to their data,' he said. LVMH has trained some 1,500 data experts over the last four years, ranging from data scientists to analysts, engineers and architects, Le Moal reported. A further 15,000 employees have been through its 'Data and AI Academy.' 'The link between the different professions and IT has become much closer, and much more satisfying, too,' Cirot remarked. 'We can serve them much faster, and we're very close to the different departments.' One area where LVMH and Google have stepped up their efforts is security, following a series of cyber attacks on U.K. retailers including Marks & Spencer and Harrods, and data breaches at luxury brands like Cartier and Dior, the latter of which is owned by LVMH. Google's Threat Intelligence Group recently warned that the U.S. retail sector is also being targeted in ransomware and extortion operations. 'There has been an absolutely exponential growth in cyber risk in recent months,' said Le Moal. 'This is a constant concern for us. Protecting our customers' data is of utmost importance.' Despite a global downturn in luxury spending that has hit budgets across the industry, LVMH is bolstering investment in cybersecurity, he said. 'But it's a game of cops and robbers, and it's an ongoing battle,' he said. 'Unfortunately, despite our best efforts, all you need is the occasional tiny flaw in the system to benefit this increasingly large-scale cyber crime industry. This is a challenge for all businesses, including luxury.' Google has beefed up its cybersecurity capabilities, namely through the 2022 acquisition of cyber defense and response vendor Mandiant. 'Our philosophy at Google is what we call zero trust, which applies to all the applications we develop,' said Cirot. The cloud security model is based on the idea that no person or device should be trusted by default, even if they are already inside an organization's network. With shrinking demand and geopolitical turmoil roiling luxury stocks, technology will be key to gaining an edge over the competition, said Le Moal. In a volatile environment, luxury brands will rely increasingly on AI and genAI to retain customers, recruit new clients, optimize their supply chain to curb over-production, direct products to the right locations and minimize returns, he said. But with big tech increasingly shaping government policy, the stakes now go far beyond a single sector, Le Moal noted. 'Technology has become an issue of sovereignty. We have to adapt to Chinese sovereignty, and potentially soon to European sovereignty,' he said. 'With all due respect for my partners at Google, we're also increasingly vigilant about a form of American sovereignty.' Google has anticipated potential evolutions by establishing trusted cloud solutions, for instance through its joint venture with French defense and technology firm Thales. 'Already, for example, everything we do today with LVMH is encrypted,' Cirot said. 'There is anxiety in the market on this topic,' he recognized. 'So we are ready, we have different possible scenarios to support customers and we will follow the regulation and discussions.' With the U.S accounting for 24 percent of LVMH's revenues in the first quarter, the threat of trade tariffs looms large over its immediate fortunes. LVMH chairman and chief executive officer Bernard Arnault has urged the European Union to make concessions in its trade talks with the administration of U.S. President Donald Trump. 'These issues also have the potential to impact our business, and there again, it's crucial to have the best tools to be as responsive as we can in adapting our retail and production capacities,' Le Moal said. At Viva Tech, LVMH plans to showcase collaborations between 11 of its luxury maisons — which include Guerlain, Tag Heuer, Louis Vuitton and Loro Piana — and 13 technology partners under the banner 'LVMH Dreamscape: Where Stories Connect.' One of its houses will present an agent that can automatically generate marketing content while respecting the brand's tone of voice. Its Moët Hennessy wines and spirits division will highlight a collaboration with start-up Hiphen, which uses AI to analyze crops. There will also be a big focus on 3-D, which is crucial in the creative industries, Le Moal said. He noted that design teams are also using genAI to create mood boards and iterate products, though LVMH is committed to an ethical use of the technology that does not replace human input. 'A strong theme of Viva Tech will be the use and integration of these AI and genAI technologies into everyday life,' he said. 'Unlike the metaverse, which was a flash-in-the-pan, we're talking about a profound transformation that's here to stay.' Best of WWD Retailers Leverage First Insight for ESG Alignment What Steph Curry's Sneaker NFTs Can Teach Fashion Year in Review: Brands, Retailers Go Hyper-digital in a Challenging Landscape Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-06-2025
- Business
- Yahoo
LLYC transforms its 2024 annual report into an immersive sound experience with generative AI
A nine-episode podcast — scripted and narrated using artificial intelligence — recaps the firm's activity over the past year Transformation, integration and sustainable growth were the Corporate Affairs and Marketing firm's key pillars in 2024 MADRID, June 03, 2025 (GLOBE NEWSWIRE) -- LLYC (BME:LLYC) is embracing AI and synthetic voices for the launch of its 2024 Annual Report. Two AI-generated voices, IAn and MaIA, guide listeners through a nine-episode podcast summarizing the company's year, showcasing its ability to deliver innovative formats it already offers clients. The result transforms the traditional reading experience into a richer, more fluid, and more conversational sound journey — moving beyond standard text narration. The report highlights 2024 as a year defined by transformation, integration, and sustainable growth — three pillars that point toward a promising future for the global Marketing and Corporate Affairs firm. It also reaffirms LLYC's strong financial performance, its continued investment in talent, innovation, and creativity, and its deep commitment to both sustainability and social impact through the work of Fundación José Antonio Llorente. 'To transform is to move forward," said Francisco Sánchez Rivas, Chair of LLYC's Board of Directors. 'We're committed to continued growth with vision, purpose, and measurable return—and we'll do it with our greatest asset: our talent.' 'We're bigger and better than we were a year ago," added Alejandro Romero, Partner and Global CEO of LLYC, in the report's introduction. "We've proven our ability to overcome new challenges and reach our goals—even in a year of full-scale transformation, all to better meet our clients' evolving needs.' Eight highlights from 2024 Integration and profitability in a demanding environment: LLYC has been restructured to continue leading its sector. In 2024, the firm rolled out a new matrix business model that integrates Marketing and Corporate Affairs. It invested over €30 million in strategic acquisitions in the U.S. (Lambert by LLYC), Colombia (Dattis by LLYC), and Spain (Zeus by LLYC). Operating income rose by 19%, with recurring EBITDA reaching €17.4 million. Innovation driving change: There's no better way to anticipate the future than by inventing it. In 2024, LLYC invested nearly €2.5 million in innovation—up 95% from 2023, totaling close to €5 million over the past five years. The firm led 34 innovation projects last year, including AI Legislab, a tool that helps companies and institutions make smarter public affairs decisions, and AI Media Gen, which automates repetitive tasks and enhances teams' strategic capabilities. Fueling transformation: LLYC's 2024 results were made possible by the efforts of its 1,300 professionals—nearly 8% more than the previous year. Women represent 62.2% of the workforce and hold 50.2% of leadership roles. The team spans 15 nationalities across offices in Europe, Latin America, and the U.S., with workplace flexibility remaining a key pillar of LLYC's model. Creativity, agility, and purpose to grow with clients: In 2024, the firm accelerated the integration of its service offering for greater agility and efficiency. LLYC secured major Marketing contracts (Turespaña, IFEMA Madrid, and the Michigan Development Corporation) and continued to lead standout client campaigns like Free the Voices (Monoceros), Engineering the Future (Indra), and Kid Walkers (Multiópticas). Fundación José Antonio Llorente: Last year, LLYC's foundation officially became Fundación José Antonio Llorente. In 2024, it supported 25 social organizations through three projects that benefited 1,510 people across 12 countries. Four hundred LLYC professionals volunteered 1,180 personal and work hours. Voces Futuras, the foundation's flagship initiative, contributes to the United Nations' Sustainable Development Goal 4 (Quality Education). Fostering dialogue and sparking conversations: In 2024, LLYC IDEAS solidified its position as a leading voice in thought leadership, sparking meaningful conversations. The firm released 11 global and 19 local reports on corporate communication, marketing, health, sustainability, and public affairs. It also published issue 41 of magazine, which featured 17 essays analyzing social polarization. Recognition for bold ideas: LLYC earned 75 national and international awards in 2024. These included the Grand Prix at Eurobest for the 'Ajedrez' campaign by CHINA part of LLYC, and recognition as Independent Agency of the Year at FIAP. LLYC Peru was named Regional PR Company of the Year at the London International Awards, and Dattis by LLYC was ranked the world's most effective independent agency by the Effie Index. The firm also took home awards from the SABRE Awards EMEA, PRWeek Global Awards, El Ojo de Iberoamérica, The ANDY Awards, El Sol, New York Festivals Health, ASPID, C de C, and the Premios Eficacia. Sustainable growth and impact: LLYC continued working under its Sustainability Policy, which aligns the firm's vision and commitment with key international frameworks. In 2024, the company completed its first double materiality assessment and made progress in carbon footprint measurement, expanding Scope 3 tracking. Its ESG management was recognized by top rating providers like Refinitiv and Clarity AI. About LLYC LLYC (BME:LLYC) is a global Marketing and Corporate Affairs consulting firm that partners with its clients in creativity, influence, and innovation to enhance and protect the value of their businesses, turning every day into an opportunity to grow their brands. Founded in 1995, LLYC is present in the United States (Miami, New York, San Diego, Washington, DC, Grand Rapids, Detroit, St. Louis and Phoenix), Argentina, Brazil (São Paulo and Rio de Janeiro), Brussels, Chile, Colombia, the Dominican Republic, Ecuador, Mexico, Panama, Peru, Portugal and Spain (Madrid, Barcelona and Valencia). In 2023, LLYC's operating revenues exceeded 93.1 million euros. LLYC is ranked as one of the 40 largest communications companies worldwide, according to PRWeek and PRovoke. LLYC was named the Top Communications Consultant in Europe at the 2025 PRWeek Global Awards and Communications Consultant of the Year in Latin America in 2023 by PRovoke. Media Contact:Joe
Yahoo
03-06-2025
- Business
- Yahoo
LLYC transforms its 2024 annual report into an immersive sound experience with generative AI
A nine-episode podcast — scripted and narrated using artificial intelligence — recaps the firm's activity over the past year Transformation, integration and sustainable growth were the Corporate Affairs and Marketing firm's key pillars in 2024 MADRID, June 03, 2025 (GLOBE NEWSWIRE) -- LLYC (BME:LLYC) is embracing AI and synthetic voices for the launch of its 2024 Annual Report. Two AI-generated voices, IAn and MaIA, guide listeners through a nine-episode podcast summarizing the company's year, showcasing its ability to deliver innovative formats it already offers clients. The result transforms the traditional reading experience into a richer, more fluid, and more conversational sound journey — moving beyond standard text narration. The report highlights 2024 as a year defined by transformation, integration, and sustainable growth — three pillars that point toward a promising future for the global Marketing and Corporate Affairs firm. It also reaffirms LLYC's strong financial performance, its continued investment in talent, innovation, and creativity, and its deep commitment to both sustainability and social impact through the work of Fundación José Antonio Llorente. 'To transform is to move forward," said Francisco Sánchez Rivas, Chair of LLYC's Board of Directors. 'We're committed to continued growth with vision, purpose, and measurable return—and we'll do it with our greatest asset: our talent.' 'We're bigger and better than we were a year ago," added Alejandro Romero, Partner and Global CEO of LLYC, in the report's introduction. "We've proven our ability to overcome new challenges and reach our goals—even in a year of full-scale transformation, all to better meet our clients' evolving needs.' Eight highlights from 2024 Integration and profitability in a demanding environment: LLYC has been restructured to continue leading its sector. In 2024, the firm rolled out a new matrix business model that integrates Marketing and Corporate Affairs. It invested over €30 million in strategic acquisitions in the U.S. (Lambert by LLYC), Colombia (Dattis by LLYC), and Spain (Zeus by LLYC). Operating income rose by 19%, with recurring EBITDA reaching €17.4 million. Innovation driving change: There's no better way to anticipate the future than by inventing it. In 2024, LLYC invested nearly €2.5 million in innovation—up 95% from 2023, totaling close to €5 million over the past five years. The firm led 34 innovation projects last year, including AI Legislab, a tool that helps companies and institutions make smarter public affairs decisions, and AI Media Gen, which automates repetitive tasks and enhances teams' strategic capabilities. Fueling transformation: LLYC's 2024 results were made possible by the efforts of its 1,300 professionals—nearly 8% more than the previous year. Women represent 62.2% of the workforce and hold 50.2% of leadership roles. The team spans 15 nationalities across offices in Europe, Latin America, and the U.S., with workplace flexibility remaining a key pillar of LLYC's model. Creativity, agility, and purpose to grow with clients: In 2024, the firm accelerated the integration of its service offering for greater agility and efficiency. LLYC secured major Marketing contracts (Turespaña, IFEMA Madrid, and the Michigan Development Corporation) and continued to lead standout client campaigns like Free the Voices (Monoceros), Engineering the Future (Indra), and Kid Walkers (Multiópticas). Fundación José Antonio Llorente: Last year, LLYC's foundation officially became Fundación José Antonio Llorente. In 2024, it supported 25 social organizations through three projects that benefited 1,510 people across 12 countries. Four hundred LLYC professionals volunteered 1,180 personal and work hours. Voces Futuras, the foundation's flagship initiative, contributes to the United Nations' Sustainable Development Goal 4 (Quality Education). Fostering dialogue and sparking conversations: In 2024, LLYC IDEAS solidified its position as a leading voice in thought leadership, sparking meaningful conversations. The firm released 11 global and 19 local reports on corporate communication, marketing, health, sustainability, and public affairs. It also published issue 41 of magazine, which featured 17 essays analyzing social polarization. Recognition for bold ideas: LLYC earned 75 national and international awards in 2024. These included the Grand Prix at Eurobest for the 'Ajedrez' campaign by CHINA part of LLYC, and recognition as Independent Agency of the Year at FIAP. LLYC Peru was named Regional PR Company of the Year at the London International Awards, and Dattis by LLYC was ranked the world's most effective independent agency by the Effie Index. The firm also took home awards from the SABRE Awards EMEA, PRWeek Global Awards, El Ojo de Iberoamérica, The ANDY Awards, El Sol, New York Festivals Health, ASPID, C de C, and the Premios Eficacia. Sustainable growth and impact: LLYC continued working under its Sustainability Policy, which aligns the firm's vision and commitment with key international frameworks. In 2024, the company completed its first double materiality assessment and made progress in carbon footprint measurement, expanding Scope 3 tracking. Its ESG management was recognized by top rating providers like Refinitiv and Clarity AI. About LLYC LLYC (BME:LLYC) is a global Marketing and Corporate Affairs consulting firm that partners with its clients in creativity, influence, and innovation to enhance and protect the value of their businesses, turning every day into an opportunity to grow their brands. Founded in 1995, LLYC is present in the United States (Miami, New York, San Diego, Washington, DC, Grand Rapids, Detroit, St. Louis and Phoenix), Argentina, Brazil (São Paulo and Rio de Janeiro), Brussels, Chile, Colombia, the Dominican Republic, Ecuador, Mexico, Panama, Peru, Portugal and Spain (Madrid, Barcelona and Valencia). In 2023, LLYC's operating revenues exceeded 93.1 million euros. LLYC is ranked as one of the 40 largest communications companies worldwide, according to PRWeek and PRovoke. LLYC was named the Top Communications Consultant in Europe at the 2025 PRWeek Global Awards and Communications Consultant of the Year in Latin America in 2023 by PRovoke. Media Contact:Joe in to access your portfolio
