Louis Vuitton 2003 Annual Report Download - page 75

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SHARING THE “VISION”
AND BEST PRACTICES
In late 1999, LVMH opened the LVMH
House in London, a management and
innovation center specifically dedica-
ted to the professional development of
Group executives.
Each year, this meeting place welco-
mes more than 400 participants from
all over the world for forums focused
on global strategy issues, such as lea-
dership, new technologies, or innova-
tion and creativity.
Since 2003, the LVMH House has offe-
red a new Forum on “The Art of Luxury
Branding”, i.e. how a luxury brand is
created and developed; how to protect
its identity. These are but a few of the
topics discussed in this Forum.
RETAINING THE BEST
The Group ensures that its companies
apply compensation formulas that are
best suited to involving employees in
the growth strategy. For instance, pro-
fit-sharing plans have been implemen-
ted in all LVMH companies.
In addition, the number of beneficia-
ries of LVMH stock options has dou-
bled since 2000. The originality of this
program lies in the fact that stock
options are granted each year based on
individual performance.
Finally, an innovative shareholding plan
known as OPAL - Options for All was
launched in May 2001. Under this plan,
over 44,500 LVMH employees have
each received 25 shares.
how (cross-brand project groups and
inter-company operating networks). The
objective is to make LVMH a true lear-
ning organization in which each
employee can develop individually and
professionally.
CUSTOM TRAINING
LVMH companies offer a broad range
of training programs to allow both
management and employees to develop
their professional skills and their spe-
cific business line expertise as artisans
and creators and to share a common
vision. Training workshops are chosen
on the basis of the needs and specific
features of the business lines of each
brand and are organized by the trai-
ning centers of each business segment.
These training programs are facilitated
by outside trainers as well as by in-
house specialists.
In addition, the Group holds orienta-
tion workshops designed to familiarize
new employees with the culture of the
Group companies, its values, its basic
management principles and the know-
ledge of its brands. Over 11,000
employees received such training in
2003.
MANY PROFESSIONAL CAREER
OPPORTUNITIES WORLDWIDE
One of the assets of the LVMH group is
that it brings together companies that
have a strong identity and business
expertise in very diverse fields. Conse-
quently, there are many professional
career opportunities that match the
skills and aspirations of each
employee.
Today over half of the management
positions are filled by internal trans-
fers. Nearly 40% of these transfers are
to another company in the Group; one
move out of six is to another country.
A group of participants at work at LVMH House during “The Art of Luxury Branding” forum.
73
PASSIONATE ABOUT
CREATIVITY