Oyst, France’s one touch payment solution provider, won the second LVMH Innovation Award.
On May 25th, at Viva Technology (May 24th ~26 day), the French one key payment solution provider Oyst was awarded the second LVMH innovation competition (LVMH Innovation Award), which was set up by the French luxury goods giant LVMH group, by the chairman of the LVMH group. And CEO Bernard Arnault.
Oyst, which was co founded by Julien Foussard and Quentin Vigneau in 2015, developed a one – key payment solution: when consumers buy goods online, only one click of a product can complete the purchase, saving the size and color selection required for traditional online shopping, adding a shopping cart, creating an account. Fill in the receipt address, fill in the payment information and other steps.
Oyst’s payment solution not only helps consumers to simplify the purchase process, but also provides opportunities to increase the conversion rate of the web site, to help them produce higher sales and improve customer loyalty.
In addition, Oyst can guarantee the security of payment through an internal security technology (including mouse movement, key speed data statistics).
At present, Oyst’s payment solution is applicable to all kinds of electricity providers, and can be used on all devices (computers, mobile phones, tablet computers).
“Online checkout is a time-consuming problem for businesses and users, and the button created by Oyst allows consumers to click once to complete the purchase without providing additional information,” said Julien Foussard.
Bernard Arnault said: “technology is crucial to our business, and it brings us a lot of flexibility, quality, creativity, and luxuries are all benefited by technology. I am glad that France is becoming a gathering place for technology start-ups. In the next 10 years, we will witness many European start-ups becoming international giants, and this is the goal of the creation of an innovation award.
A total of 800 companies applied for the LVMH Innovation Award, a record high, 60% more than last year’s application. In April, LVMH group selected 30 enterprises in the 800 applications to enter the final final. They were from France, the United States, Canada, China, South Korea and Israel, involving 17 fields, such as retail, e-commerce, artificial intelligence, social media, block chain technology, anti-counterfeiting technology and so on.
The committee members of this competition include the CEO Alexandre Arnault of LVMH’s German high-end bag manufacturer Rimowa, the founder of the British fashion e-commerce Farfetch, the CEO Jos e Neves, IBM CEO Ginni, and the co founder of the founder.
In addition to the winner Oyst, the members of the committee also mentioned the other two companies in the final: the Paris enterprise Kronos Care, which created all channel solutions for distributors and brands, and Vechain, a Singapore start-up company using block chain technology for product certification and anti-counterfeiting.
Last year, the founder of the first LVMH innovation competition, Heuritech founder and CEO Tony Pinville, also attended the award, and said: “the award has brought us a global coverage, and we are now expanding our business to the United States, Europe and Asia. The continent. ” (see the history report of “gorgeous ambition”: using artificial intelligence to capture fashion trends, Heuritech, a technology startup company, was awarded the first innovation award by LVMH).
LVMH launched its Innovation Grand Prix last year, aiming to foster start-ups as well as young designers. (see the historical report of “gorgeous ambition”: LVMH group holds the business innovation competition: Nurturing start-ups like training young designers.)
(from left to right, the above is Alexandre Arnault, Julien Foussard, Bernard Arnault and LVMH group CDO Ian Rogers).
Last month, LVMH group just announced the STATION F, the largest business incubator in handball, launched a new business accelerator program. More than half of the start-up companies involved in the accelerator program have been highlighted in the LVMH innovation competition. LVMH will meet the 50 start-ups two times a year (6 months per period), and the first group has been in STATION F in November last year. In addition to free office space, these companies will also receive personalized guidance and support from the LVMH panel. (see the history report of “gorgeous Chronicles”: LVMH group jointly launches the STATION F, the world’s largest Business Incubation Park, launching the new accelerator project).
Viva Technology is co hosted by LVMH Group Co advertising public relations giant Publicis Groupe (Yang Lion Group) and the echo (Les chos) of the French media group, the third session of this year. (see the history report of “gorgeous ambition”: LVMH sponsored digital start-ups trade show Viva Technology Paris)
Source: Comprehensive English website Fashion Network; LVMH Group official website report; Oyst official website; “gorgeous ambition” historical report
Image source: LVMH Group official network; Oyst official network
The responsible editor: Zhu Ruoyu
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