The COVID-19, known as the coronavirus, has made numerous companies rethink their business strategies. For luxury conglomerate, LVMH, it’s an opportunity to expand its ever-growing product collection–with hand sanitizer.
In the wake of the pandemic, bottles of hand sanitizer have been scarce. The lavish branding company will convert some of its manufacturing factories used for their perfume production to start making branded hand sanitizer. These factories are normally used to produce perfumes for Dior, Givenchy, and Guerlain.
The luxury company expects to make 12 tons of the gel. The product will be given at no charge to French authorities as a way to help stop the spread in the country and the largest hospital system in Europe.
“LVMH will use the production lines of its perfume and cosmetic brands… to produce large quantities of hydroalcoholic gels from Monday,” LVMH said in a statement. “[We] will continue to honour this commitment for as long as necessary.”
The business move comes at a time when there is a growing demand for the product but limited options–especially within the luxury space. LVMH looks to fulfill a need that has been exposed through the viral outbreak with hopes to capitalize on the momentum. It is also comes after the French president said there was a large shortage of the product. There is no indiction yet whether the hand sanitizer will be under one of LVMH’s flagship brands or under a new name.
LVMH is one of the world’s largest conglomerates for luxury brands, with a collection of some of the most recognizable names in high fashion. Some of the names include Louis Vuitton, Celine, and Marc Jacobs. It also owns brands outside of fashion, including champagne maker Moet & Chandon, watchmaker Tag Heuer, and and jeweler Bulgari.