LVMH, the renowned French luxury group, recently recognized another British start-up for its groundbreaking innovations in the fashion industry. Save Your Wardrobe, a London-based company founded by Hasna Kourda, was declared the winner of the esteemed LVMH Innovation Prize, presented by Bernard Arnault at the Viva Technology trade show in Paris on June 15. This follows LVMH’s acknowledgment of a British company last year for revolutionizing luxury product delivery.
Save Your Wardrobe, which launched its web platform in 2020, aims to encourage consumers to take better care of their clothing by emphasizing repair, maintenance, and management. The company’s ultimate goal is to enhance the sustainability of wardrobes by providing a streamlined platform for brands and retailers to offer post-purchase services, including repairing, maintaining, and upcycling.
Bernard Arnault, the CEO of LVMH, expressed unwavering confidence in Save Your Wardrobe’s solution, emphasizing its alignment with LVMH’s commitment to creative circularity and its environmental roadmap, LIFE 360. He firmly believes that this innovative offering will perfectly resonate with the desires of LVMH’s prestigious fashion houses and meet the high expectations of its discerning customers.
Save Your Wardrobe’s remarkable achievement now grants them the exclusive opportunity to collaborate with LVMH’s renowned brands and receive personalized support for an entire year within the group’s accelerator at Station F, known as ‘La Maison des Startups LVMH’. In 2022, the start-up secured approximately three million euros in funding to expand its operations across Europe, with a specific focus on France and Germany.
Aside from Save Your Wardrobe, six other exceptional companies were also honored with prizes at the event. Neobrain, a software suite based on artificial intelligence for employee management, emerged victorious in the ‘Employee Experience, Diversity, and Inclusion’ category. The Vidmob platform showcased exceptional prowess in the ‘Image and Media’ field, while Absolute Labs triumphed in the ‘Digital Immersive Experiences’ category. Woola packaging garnered attention in the ‘Sustainable Development and Green Tech’ category, and ChatLabs received a special mention for their outstanding work in ‘Data and Artificial Intelligence’.
The LVMH Innovation Prize witnessed an unprecedented number of applicants this year, with over 1,300 start-ups from 75 countries competing for this esteemed accolade. Out of these impressive contenders, 18 companies were invited to showcase their work at the LVMH pavilion during the technology trade show. Save Your Wardrobe emerged as the grand prize winner and further distinguished itself in the ‘omnichannel and retail’ category.
LVMH’s unwavering dedication towards promoting and supporting innovation within the fashion industry unequivocally demonstrates its unwavering commitment to sustainability and the creation of unforgettable experiences for its customers. The recognition bestowed upon Save Your Wardrobe and the other prize winners serves as a testament to the critical role that technological advancements play in shaping the future landscape of the fashion industry.
Useful Links:
– Save Your Wardrobe
– LVMH
