# Who does LVMH Moet Hennessy Louis Vuitton pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/lvmh · Facet: suppliers · Updated: 2026-09-24T04:08:56.201512+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: LVMH Moet Hennessy Louis Vuitton's confirmed suppliers/cost counterparties include Las Vegas Sands Corp., 알파벳 (구글), Alibaba Group plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 5 cost edges, backed by 6 dated sources, 1 of them primary filings (as of 2026-09-24).

### 원자재 (가죽·금·다이아몬드 등, 비공개) (high)
- note: Product costs come from luxury raw materials such as leather, gold, diamonds and cognac stocks. Brand pricing power protects the margin (about 22%), but raw materials and FX are cost variables. Individual suppliers and amounts are not disclosed.
- [mentions] Fashionbiz (KO, news, published 2025-07-30) https://fashionbiz.co.kr/article/218232: "LVMH's Fashion & Leather Goods fell 9% in H1 2025, with consumer pushback against repeated price hikes and weaker tourism demand (e.g. Japan) cited as drivers."

### 라스베이거스 샌즈 (high)  → /las-vegas-sands.md
- note: LVMH, through Louis Vuitton, operates as a significant tenant across Sands malls in Macao and Singapore, with individual rent undisclosed but the filing directly confirming the tenant relationship and mall-rental revenue model.
- [confirms] SEC EDGAR (EN, filing, published 2026-02-06) https://www.sec.gov/Archives/edgar/data/1300514/000130051426000013/lvs-20251231.htm: "Selected Significant Tenants ... Louis Vuitton"
- [confirms] Marina Bay Sands (EN, news, published 2024-09-23) https://www.marinabaysands.com/content/dam/revamp/company-information/media-centre/2024/sep/the-shoppes-spotlights-personal-shopping-new-to-market-brands-and-refreshed-boutique-concepts.pdf: "introduced ... Le Chocolat Maxime Frédéric at Louis Vuitton to the mall"

### 매장 임대·마케팅·리테일 인건비 (비공개) (mid)
- note: Prime-location store rents, heavy marketing and advertising, and retail staff are the main operating costs. AI exposure is effectively nil and, where present, is operational efficiency (inventory, CRM), unrelated to value-chain re-ratings. Details are per disclosed financials.
- [mentions] Fashionbiz (KO, news, published 2025-07-30) https://fashionbiz.co.kr/article/218232: "Luxury brands spend heavily on stores and marketing; LVMH balances brand investment with cost management amid the slowdown."

### 알파벳 (구글) (mid)  → /alphabet.md
- note: Strategic partnership with Google Cloud (2021) for AI/ML (demand forecasting, inventory optimization, personalization) and IT modernization; Google Cloud is the cloud provider for LVMH's Maisons.
- [confirms] Google Cloud Press Corner (EN, ir, published 2021-06-16) https://www.googlecloudpresscorner.com/2021-06-16-LVMH-and-Google-Cloud-Create-Strategic-Partnership-for-AI-and-Cloud-Based-Innovation: "LVMH plans to use Google Cloud to modernize components of its IT infrastructure."

### 알리바바 (클라우드·티몰) (mid)  → /alibaba.md
- note: Extended Alibaba partnership (May 2024): Alibaba Cloud gen-AI (Qwen) and infrastructure across 30+ Maisons in China/SEA; ~30 Maisons sell via Tmall Luxury Pavilion (undisclosed).
- [confirms] Alibaba Group (EN, ir, published 2024-05-22) https://www.alibabagroup.com/en-US/document-1730004928354582528: "LVMH has begun integrating Alibaba Cloud's generative AI capabilities, including Qwen."
- [confirms] WWD (EN, news, published 2024-05-22) https://wwd.com/business-news/technology/lvmh-alibaba-group-ai-partnership-1236393763/: "Covers 30+ brands in mainland China and SEA, including Sephora APAC and DFS."

Reverse side: https://valuechain.wiki/lvmh/customers.md · Ripple: https://valuechain.wiki/lvmh/ripple.md

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