Luxury Vinyl Plank, otherwise known as LVP or LVT (Luxury Vinyl Tile), is currently the fastest growing flooring category in the United States. Due to its top-to-bottom waterproof design, scratch-resistant durability, style, and price, many homeowners are opting for LVP as their hard-surface floor of choice. Your home can have a realistic wood-look floor that's pet-friendly and at a lower purchase price than hardwood.