Chief Digital Officers are the Newest C-Suite in Luxury Fashion

Luxury fashion brands have been slow to adapt to the digital age fearing that somehow e-commerce and digital advertising would dilute their brand message. At this point they've all realized that digital should be embraced, not ignored as it better enables them to target customers, market their brand message and luxury lifestyle, and improve efficiency across organizations. Prior to creating the Chief Digital Officer role digital was dealt with by e-commerce and a subset of the marketing team. The emergence of Chief Digital Officers indicates a move towards an integrated digital strategy that touches all parts of the institution. It encompasses not only digital marketing, but also optimization around CRM, pricing strategies, supply chain efficiency and big data analysis.  

The latest indication of the growth of luxury brands embracing digital is LVMH's appointment of a former Apple exec to the Chief Digital Officer role. Using an Apple Exec to develop digital strategy for LVMH is a smart move as Apple and LVMH are actually relatively similar in many ways. Apple is a really strong global brand with luxury products and a relatively long legacy. LVMH can actually benefit significantly from thinking like Apple in terms of innovation and high impact marketing.