Delvaux Company Profile

Background

Founded: 1829 in Brussels, Belgium

Founder: Charles Delvaux

Industry: Luxury Leather Goods

Overview:

Delvaux is the world's oldest luxury leather goods Maison, renowned for its exceptional craftsmanship and innovative designs. In 1908, Delvaux filed the first official patent for a leather handbag, positioning itself as the inventor of the modern luxury handbag. The brand has been the official purveyor to the Royal Court of Belgium since 1883, reflecting its esteemed heritage and commitment to quality.

Key Strategic Focus

Delvaux's strategic focus centers on preserving its rich heritage while embracing modernity. The brand emphasizes:

Craftsmanship: Maintaining unparalleled quality through skilled artisanship.

Innovation: Continuously introducing new designs and materials to appeal to contemporary tastes.

Global Expansion: Extending its presence in key international markets, including recent flagship stores in New York and Beijing.

Digital Transformation: Enhancing its digital capabilities to offer an omnichannel shopping experience.

Financials and Funding

In June 2021, Richemont acquired 100% of Delvaux in a private transaction. The acquisition aimed to leverage Richemont's global presence and digital capabilities to further develop Delvaux's omnichannel opportunities and customer engagement. The transaction had no material financial impact on Richemont's consolidated net assets or operating result for the year ending March 31, 2022.

Product Lines

Delvaux offers two main collections annually—Spring-Summer and Autumn-Winter—introducing new materials and colors each season. Iconic designs include:

Le Brillant (1958): A signature handbag introduced for the 1958 Brussels World Fair.

Le Tempête (1967): Inspired by sailing gear, reflecting a bold design.

Le Pin (1972): A light holdall model catering to the needs of modern women.

Le Lingot (2022): A recent addition showcasing contemporary aesthetics.

The brand also offers small leather goods, custom jewelry, and scarves.

Technological Platform and Innovation

Delvaux distinguishes itself through:

Proprietary Techniques: Utilizing exclusive materials like Toile de Cuir, a fabric woven from different leathers.

Artisanal Craftsmanship: Handcrafting each product in workshops across Belgium and France, ensuring limited editions and personalized offerings.

Digital Integration: Launching e-commerce platforms to enhance customer engagement and accessibility.

Leadership Team

Jean-Marc Loubier – Chief Executive Officer

Jean-Marc Loubier rejoined Delvaux as CEO on September 21, 2021. He previously led the brand from 2011 to 2019, significantly expanding its international presence and increasing annual sales from €18 million to over €120 million. Loubier's extensive experience includes leadership roles at Louis Vuitton, Celine, Escada, and Sonia Rykiel.

Leadership Changes

In September 2021, Jean-Marc Loubier returned as CEO, succeeding Marco Probst, who had served as CEO since December 2019. Loubier reports to Philippe Fortunato, CEO of Richemont’s fashion and accessories division.

Competitor Profile

Market Insights and Dynamics:

The luxury leather goods market is characterized by:

High Competition: Dominated by established brands with strong heritage.

Growth Potential: Driven by increasing demand in emerging markets and digital channels.

Consumer Trends: A shift towards personalized and sustainable products.

Competitor Analysis:

Key competitors include:

Valextra: Founded in 1937, headquartered in Milan, specializing in luxury leather goods.

Moynat: Established in 1849 in Paris, known for its craftsmanship in luxury bags.

Celine: Founded in 1945, headquartered in Paris, operating in the apparel and footwear industry.

Strategic Collaborations and Partnerships

Delvaux has collaborated with renowned designers and artists to create unique collections, such as the "Miniatures Belgitude," celebrating Belgian culture. These collaborations enhance the brand's creative momentum and market appeal.