Luxury Vinyl Tile (LVT) and Luxury Vinyl Plank (LVP) are individual easy-to-install vinyl tiles or planks that mimic natural materials such as wood and stone. They are designed to serve as an aesthetic upgrade to traditional water-resistant sheet vinyl and are available in several tile sizes with a seemingly limitless number of varying patterns and textures. Although LVT and LVP are designed as “no-wax” floor types, the factory finish will eventually wear off and require a recoat.