French luxury goods giant LVMH signed a deal to use Google’s AI to help sell products from brands such as Louis Vuitton and Tiffany — and top spenders will have custom-tailored online shopping experiences, the companies said Wednesday.
Google’s AI and machine learning tech will also help the company forecast demand for products and optimize store inventories, according to the companies.
The partnership will run for at least five years, LVMH spokesman Mickael Soria told the Post.
Soria declined to disclose the value of the deal.
LVMH, which is Europe’s most valuable company, also controls fashion labels like Christian Dior, Celine and Marc Jacobs, as well as top-shelf alcohol brands like Moët and Hennessy. Its owner Bernard Arnault regularly battles with Jeff Bezos for the title of the world’s richest man.
Soria said Google’s AI will be implemented first at LVMH’s top 15 brands before being distributed more widely throughout the company.
Google’s tech will also be used to help develop LVMH products, update the company’s IT infrastructure manage communications between employees and customers, the companies said.
In addition, the companies said they will launch a “Data and AI Academy” in Paris but did not provide details.
“By combining our best-in-class approaches in our respective industries, it will take us a step forward in the use of data and AI,” LVMH group managing director Toni Belloni said of the deal. “For us, privacy, personalization, and luxury are synonymous.”