Chinese Gen AI content company wins LVMH Innovation Award at VivaTech

LVMH Chairman and CEO Bernard Arnault with the LVMH Innovation Award winners at VivaTech this morning

 

Bernard Arnault, LVMH Group Chairman and CEO, presented this year’s LVMH Innovation Award this morning to Chinese company FancyTech, which uses Gen AI and 3D models to create video content.

Arnault presented the award at technology show VivaTech, which is taking place in Paris this week.

FancyTech uses AI-generated video scripts to control video movements and lighting effects in video production software, based on a brief provided by brands. Combined with 3D models, the videos can be rapidly generated in high quality, and are said to feature movements that are impossible to achieve manually. 

The LVMH Innovation Award is a competition for international start-ups. This year, LVMH received more than 1,545 applications from 89 countries. Following a selection process, 18 finalists were competing this morning for awards in six categories, in addition to the grand prize. This year, there was also a special mention for the most promising data and artificial intelligence solution.

The winners and finalists join the acceleration program at the Maison de Startups, LVMH’s innovation incubator, where they have access to personalized mentoring to help them develop their offers in liaison with LVMH and its 75 brands. The 18 start-ups also exhibited on LVMH’s pavilion at the VivaTech show.

Talking about why LVMH organizes the awards and why it is motivated by tech start-ups, Arnault said: “Start-ups have always been of huge interest for us. Many years ago, in the 90s, when tech started to be very successful, we invested in several start-ups. Some went very well, and some were failures. I remember we invested in Google […], we were also a major investor in Netflix, which at the time was renting DVDs.”

“The [reasons for the] success of start-ups are very close to our values. The first value for the group is creativity. But creativity is not enough, then you need quality – it has to work well. And three, is the enterprise spirit, we must be efficient. Because we have seen so many start-ups at the beginning with fantastic ideas, but go nowhere. Execution is key and you have to make things work. And to do that, you need to have a real entrepreneurial spirit. And the fourth value is to give sense to what we do. We try to work to protect the planet and with diversity.”

 The trophies for the awards were made by Dior and designed with the help of artificial intelligence. To showcase the Grand Prize, the company created a bespoke Louis Vuitton trunk.

“The [reasons for the] success of start-ups are very close to our values. The first value for the group is creativity. But creativity is not enough, then you need quality – it has to work well. And three, is the enterprise spirit, we must be efficient. Because we have seen so many start-ups at the beginning with fantastic ideas, but go nowhere. Execution is key and you have to make things work

LVMH Chairman and CEO Bernard Arnault
A bespoke Louis Vuitton trunk was created to house the grand prize award trophy

 

The LVMH Innovation Award winners:  

Image & Media for Brand Desirability:  Ircam Amplify

The company aims to amplify the use of sound for brands and user experiences. The company applies custom sound design to brand identity, online experiences, connected products or objects, points of sale or events. 

Sustainability & Greentech: Aectual

The company produces circular 3D printed store and architectural finishes using recycled materials. Aectual’s interior products and architectural finishes are waste free and fully digitally produced with XL 3D printer using recycled materials. After use, the company takes back the product and converts it into new materials, and directly 3D prints new updated products with it.

Immersive Digital Experiences: FancyTech  (also winner of the grand prize)

The company specializes in Gen AI video production based on product 3D models. FancyTech uses AI-generated video scripts to control video movements and lighting effects in video production software, based on a brief provided by brands. Combined with 3D models, the videos can be rapidly generated in high quality, and are said to feature movements that are impossible to achieve manually. 

Omnichannel & Retail: Glanceable 

The company has an AI-powered customer feedback analytics solution. Glanceable uses AI for quick feedback, real-time dissatisfaction detection, identifies growth areas, offers insights and recommendations, and provides analytics for planning and decision-making.

Operations Excellence: Authena 

Authena has IoT solutions for real-time traceability and product authenticity protection. Authena uses IoT and AI to redefine supply chain integrity, transforming data into insights for authenticity and sustainability. This is claimed to eradicate counterfeits, reduce product diversions by 90% and help meet ESG commitments.

Employee Experience, Diversity & Inclusion: Heralbony 

The company has an art license for enterprise with unique narratives by artists with disabilities. Heralbony looks to ensure collaboration between artists with disabilities and companies from planning to production. This creates business opportunities for artists, allows companies to integrate inclusive art narratives to promote engagement and DEI.

Special Mention: DATA, AI and Gen AI Solutions: BLNG 

BLNG is a sketch-to-design GenAI and virtual studio for jewelry. The company’s solution streamlines design processes, reduces costs by replacing traditional methods with digital alternatives, and offers personalized guidance to simplify customer decision-making.