FancyTech wins LVMH Innovation Award for AI-powered video generation
LVMH awarded its 2024 Innovation Award Grand Prize to FancyTech for its generative AI platform that creates videos from 3D product models. The startup also won the Immersive Digital Experiences category.
Paris – Luxury goods group LVMH has announced the winners of its 8th annual Innovation Award, held during Viva Technology. The Grand Prize was presented to FancyTech, a startup leveraging generative artificial intelligence to produce videos from 3D product models and creative briefs.
FancyTech, which also secured the win in the Immersive Digital Experiences category, utilizes AI to generate video scripts that control video editing software. This approach enables the rapid creation of high-quality videos, including dynamic movements not feasible through manual production.
The LVMH Innovation Award received over 1,545 applications from 89 countries this year, highlighting its role in connecting startups with the luxury sector. The award facilitates potential collaborations between LVMH Maisons and innovative technology companies.
Other category winners included Aectual for Sustainability & Greentech and Glanceable for Omnichannel & Retail. The trophies were designed by Dior using AI, and a custom Louis Vuitton trunk was created for the Grand Prize winner.