Connect with us

Hi, what are you looking for?

Stock

French luxury group LVMH seeks 25,000 young staff in recruitment drive

Stock Markets27 minutes ago (Sep 22, 2021 11:46AM ET)

(C) Reuters. FILE PHOTO: Louis Vuitton logo brad is seen outside a Louis Vuitton store in Paris, France, January 27, 2020. REUTERS/Gonzalo Fuentes/File Photo

PARIS (Reuters) – LVMH aims to hire 25,000 people under 30 years of age by the end of 2022, the French luxury behemoth said on Wednesday, as it accelerates recruitment to meet brisk demand for high end goods.

The European luxury sector has seen a fast pace of growth in recent months, as stores reopened following lockdown periods and consumers drew on money saved during periods of confinement to splash out on pricey goods.

LVMH has more than recovered business lost to pandemic disruptions. In July, it reported first half sales grew 11 percent on an organic basis compared to the same period in 2019, before the crisis hit, fuelled by demand for clothing and accessories from its star fashion labels Louis Vuitton and Dior.

The company’s focus on recruiting younger staff comes as it seeks to bolster the popularity of its brands with younger consumers, weaving streetwear styles like cargo pants and sneakers into its luxury fashion collections.

The hiring target for the upcoming year marks an acceleration of around 20 percent compared to previous years, according to Chantal Gaemperle, director of human resources and synergies at LVMH.

The group intends to use various methods to recruit younger staff, including drawing on a company training institute in France and other countries that is focused on design, crafts and sales techniques. It plans to expand training, which covers areas such as pastry baking and vineyard techniques, and further roll out the teaching in countries including Italy, Spain, Germany and Japan.

Seeking to broaden and diversify its recruitment further still, LVMH is opening a public online training platform and says it has forged partnerships in under-privileged areas in France to recruit high school students for apprenticeships. The group said it expects to grant 2,500 long-term contracts in France along with 5,000 internships in the country, but did not provide further details on the expected geographic breakdown of its hiring plan.

French luxury group LVMH seeks 25,000 young staff in recruitment drive

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved