The site, called 24 Sèvres and named after the department store's physical address, is a venture spearheaded by the powerhouse luxury conglomerate LVMH Moët Hennessy. But it's not LVMH's first attempt to create a comprehensive e-commerce platform. The company first tried to compete with the likes of dominant players Net-a-Porter Yoox and Farfetch years ago with its now-defunct site eLuxury.