RAIKU Collaborates with LVMH – Moët Hennessy Louis Vuitton, World’s Largest Luxury Company, and Eyes New Factory in France – Interview with LVMH
10/2/2024
Here’s some fantastic news!
We have just teamed up with Louis Vuitton Moët Hennessy (LVMH), the world’s largest luxury company. This collaboration marks a huge milestone for us as we continue to make waves with our 100% natural packaging material, known for its beautiful design, impressive shock absorption, and industry-leading low carbon footprint.
Just recently, we received an €8.8 million deal from the European Innovation Council, recognising our material as a strategic technology. Now, we’re entering partnerships with some of the biggest global brands, introducing our innovative packaging to the luxury market. One of our biggest achievements so far is being accepted into the prestigious LVMH Accelerator program! Out of over 1,500 applicants, RAIKU was one of only 30 companies chosen, placing us among the top 2% of applicants. Woop!
For those who might not know, LVMH, founded in 1987, now hosts over 75 exceptional Maisons, from Louis Vuitton and Christian Dior to Moët & Chandon. Our goal is to replace single-use plastics and help these iconic brands reduce their environmental footprints, and we’re more than ready to bring our innovation to the luxury sector.
Selma Delic, the Sourcing & Listening Manager at LVMH Open Innovation, explained what startups gain from the LVMH accelerator:
“La Maison des Startups LVMH offers acceleration and direct connections with LVMH Maisons through global pitch sessions, bespoke demo meetings, and exclusive sessions where Maisons pitch their needs to startups. We also provide a luxury market acculturation program with conferences, coaching, and insights into Maison needs. Each startup is paired with an in-Maison mentor and receives a year-long office space at Station F in Paris, the largest startup campus.”
Our Co-Founder, Karl Pärtel, shared his thoughts on this collaboration, saying:
“LVMH, the world’s most valuable luxury brand, generating €85 billion annually, has shown interest in our material—this is a clear indication of its enormous potential to transform the packaging market. I highly recommend that startups apply for the LVMH Accelerator, as we’ve seen firsthand how they focus on bridging innovations between their brands and emerging companies. We’re now seriously considering setting up our next factory in France.”
The LVMH accelerator is known for fostering successful collaborations, such as Berluti’s partnership with LivingPackets to develop “THE BOX,” a smart, reusable packaging solution, and Stella McCartney’s launch of the eco-friendly luxury textile line, Savian. These success stories show just how powerful these collaborations can be, and we’re excited to see what the future holds for RAIKU.
To sum up the interview, Selma highlighted that sustainability is increasingly crucial for luxury brands, driven by consumer demands, regulations, and the need to preserve essential resources:
“LVMH addresses this with a strategic, comprehensive approach, integrating sustainability across its entire value chain. This includes regenerative agriculture in vineyards, biodiversity protection, and promoting sustainable practices in fashion, cosmetics, and leather goods. Through its LIFE 360 program, LVMH commits to restoring 5 million hectares of wildlife habitats by 2030, balancing resource use with environmental restoration,” says Selma.
We’re gearing up to participate in LVMH’s Business Accelerator Program from July 2024 to July 2025, and we’re also raising more capital to build a second factory in France. Keep an eye on our journey throughout the year as we share insights on innovating in the luxury industry right here on our blog and across our socials.
Stay tuned—big things are coming! 👀
A few articles to check out:
https://majandus.postimees.ee/8107335/eesti-iduettevotte-alustas-koostood-maailma-luksushiiuga
https://play.tv3.ee/tv3uudised/eestlased-teevad-pakenditoostuses-revolutsiooni,clip-8182747
https://spnews.com/raiku-collaborates-lvmh/
