Noor Ul Ann Zaid

Talent Management in the Luxury Fashion Industry: A Case Study of Louis Vuitton Overview Luxury fashion has essentially been identified with an emphasis on craftsmanship, exclusivity, and heritage of the brand (Jain, Mishra and Mukhupadhay, 2021). Methodology Secondary research methods. • Philosophy: Interpretivism • Approach: Inductive • Data Analysis: Systematic Literature Review • Data Analysis technique: Thematic Analysis Key Findings Research Aim This study aims to discover the policies and performances of talent management within the luxury fashion industry, directed on Louis Vuitton. It seeks to recognize how these approaches impact employee engagement, retention, and overall brand success. Research Objectives 1. To analyze the talent management strategies employed by Louis Vuitton and their usefulness in improving employee appointment. 2. To examine how Louis Vuitton's talent management performances contribute to employee retention and fulfillment within the luxury fashion industry. 3. To pinpoint best practices in talent management that can be applied across the luxury fashion sector based on Louis Vuitton's approach. • The talent management approaches in Louis Vuitton, “Talent Acquisition Strategies” are effective since the organisation fosters relationships with some of the prestigious fashion schools. • Louis Vuitton stands out since it provides practical training under programs such as the “Louis Vuitton Excellence Program” which cultivates the employee dedication and readiness. • LV demonstrates the concept of ‘Strategic Alignment,’ as an essential way of checking that talent management strategies are aligned to the LV’s overall strategic framework and organizational objectives. • Louis Vuitton’s Organizational culture is another key component contributing to the strengthening of the employees’ behavioral variables via the Organizational culture. • Finally, ‘Digital Transformation’ and ‘Sustainability in Talent Management’ strategic objectives are relevant to LV’s overall strategic vision of the firm in the current world where innovation is paramount, coupled with the best practices for talent acquisition. Literature Review Talent management in the context of luxury fashion is therefore of paramount importance in today’s world economy.The issue of talent management is particularly crucial in the luxury fashion industry because of the specific features of the field, which requires creative and competent representation. According to McKelvey and Munslow (2011), luxury fashion brand has to target individuals who have innovation in them and at the same time possess practical skills. However, talent retention is another crucial factor in the luxury fashion because employees are the brand’s strength in the organization. Anitha, (2014) has identified career development plan and training as some of the important factors that should be singled out when it comes to management of high performer employees. Given the nature of the luxury fashion industry, it is not enough for luxury fashion brands such as Louis Vuitton to attract talented employees; the brands also need to retain the employees. Theoretical Framework Following theories are used to extract literature review in order to proceed with the present research • Human Capital Theory • Social Exchange theory • Organizational Culture theory Recommendations • It is important to develop cooperation with the best fashion schools and universities. • Organizations which are managing brands should provide various career development avenues and this include international transfers, cross-functional teams, and comprehensive training and development programs. • For the luxury fashion brands to retain their talent, organizations should embrace talent management initiatives that include; A talent map, Personal career development, Training and development, and positive workplace environment. • It is crucial to ensure that the practices of talent management are in sync with the strategic goals of the business. References Anitha, J., 2014. Determinants of employee engagement and their impact on employee performance. International journal of productivity and performance management, 63(3), pp.308-323. Jain, S., Mishra, S. and Mukhopadhyay, S., 2021. Critical success factors for luxury fashion brands in emerging markets: Insights from a qualitative study. Journal of Global Fashion Marketing, 12(1), pp.47-61.Top of Form McKelvey, K. and Munslow, J., 2011. Fashion design: process, innovation and practice. John Wiley & Sons.