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TRAINING GROUND: To the clang of a lion-dance troupe, luxury conglomerate LVMH Moët Hennessy Louis Vuitton today opened a managerial training center in Singapore, its first outside of Europe. The LVMH Asia Pacific Talent Development Centre will focus on developing management talent in Singapore, Hong Kong and Shanghai. The roughly 6,000-square-foot facility houses numerous training rooms, as well as displays of flagship goods from most of LVMH's stable of labels.
LVMH said that the center would train managers from various levels, most of them from Singapore, Hong Kong and Shanghai. It will host mentoring programs, case-study sessions and also collaborate with the likes of INSEAD's Singapore campus, the National University of Singapore and Singapore Management University on researching luxury brand management. Chantal Gaemperle, LVMH's group executive vice president for human resources and synergies, indicated that the center would also play a role in assisting high-level management transfers within the "LVMH eco-system."
The center’s location on prime real estate — in an office tower on Orchard Road, Singapore's main shopping thoroughfare — is a sign of LVMH's growing ambitions in Asia. Sales in the region, excluding Japan, made up about 30 percent of the group’s revenue last year. LVMH hired 7,300 people in Asia-Pacific last year and it is currently looking to hire more, Gaemperle said.
The Singapore Economic Development Board, a government agency that works to attract investment into the Southeast Asian city-state, was involved in setting up the center but declined to disclose the nature of its involvement.