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LVMH has started selling unused fabrics from its high-end brands, including Louis Vuitton, at bargain prices.
The new online shop, which went live on Monday and is called Nona Source, sells leftover materials from its sought-after fashion brands. A spokesperson for LVMH confirmed to Insider that all of LVMH’s fashion brands would provide fabric. LVMH owns Louis Vuitton, Christian Dior, Givenchy, Stella McCartney, and Celine, among others.
The store is Europe-only and LVMH said it had no plans to launch it in the US. It is open to certain business owners, such as fashion designers. Each buyer must set up an account, sharing their company name and registration number, to shop.
Potential buyers can search by fabric style, weight, and use. Prices start from €3 ($3.60) per meter for lining materials, and up to €50 ($60) per meter for cashmere.
The shop is part of LVMH’s push to become more sustainable in the next 10 years, via an initiative called Life 360. It has promised to upcycle and recycle clothes.
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The store is led by a three-person team who previously worked at LVMH-owned brands. The trio came together in 2019 as part of LVMH’s Disrupt, Act, Risk to be an Entrepreneur (DARE) program, which lets LVMH’s thousands of employees pitch new ideas to management and turn these into real projects.
These employees are now working full-time on Nona Source.
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Source:: Business Insider