Louis Vuitton
How does an exclusive brand such as Luis Vuitton grow and stay fresh while retaining its cachet?
Luis Vuitton (LVMH) is the owner of Fendi, Moet et Chandon and Christian Dior, and this is just naming a few. Luis Vuitton is such an innovator in the fashion world, and this keeps the LV name in the forefront of luxury goods. There is a modern, edgy sort of twist to this bag line. This produces a constant flow of return customers, and it keeps the Luis Vuitton name at the forefront of the customer’s mind. Bernard Arnault, CEO of LVMH, "created crucial buzz via a combination of ads with famous spokespeople such as singer/actress Jennifer Lopez, actress Uma Thurman and supermodel Gisele Bundchen; attention-grabbing artists collaborations (most recently with producer Pharrell Williams), corporate sponsorships (LVMH Young Artists Award, LVMH Discovery and Education), high-class events (Louis Vuitton Classic, Louis Vuitton Cup) and PR stunts like the $1.5 million scaffolding in the shape of two giant Vuitton suitcases around the renovation of Louis Vuitton 's Paris store (Marinovich, 2007). Additionally, each season LVMH promotes limited bag editions; these limited editions are not promoted to make money but to drive buyers. The bags are so stunning, that many people who cannot afford the limited edition will ultimately buy a standard bag just to have a Louis Vuitton. More notably, just the name Louis Vuitton itself shouts prestige and envy; an excellent selling tool.
LVMH "has pursued a consistent approach to developing the market, never compromising in the face of difficult operational obstacles, and, as always, controlling every aspect of the business" (Business Week, 2007). With selective, quality-and-detail-oriented buyers, LVMH products overwhelmingly meet these standards in all of its products. In places like Japan whose "luxury customers are demanding and have an eye for detail" architecture has become an integral part of brand identity – LVMH
Luis Vuitton (LVMH) is the owner of Fendi, Moet et Chandon and Christian Dior, and this is just naming a few. Luis Vuitton is such an innovator in the fashion world, and this keeps the LV name in the forefront of luxury goods. There is a modern, edgy sort of twist to this bag line. This produces a constant flow of return customers, and it keeps the Luis Vuitton name at the forefront of the customer’s mind. Bernard Arnault, CEO of LVMH, "created crucial buzz via a combination of ads with famous spokespeople such as singer/actress Jennifer Lopez, actress Uma Thurman and supermodel Gisele Bundchen; attention-grabbing artists collaborations (most recently with producer Pharrell Williams), corporate sponsorships (LVMH Young Artists Award, LVMH Discovery and Education), high-class events (Louis Vuitton Classic, Louis Vuitton Cup) and PR stunts like the $1.5 million scaffolding in the shape of two giant Vuitton suitcases around the renovation of Louis Vuitton 's Paris store (Marinovich, 2007). Additionally, each season LVMH promotes limited bag editions; these limited editions are not promoted to make money but to drive buyers. The bags are so stunning, that many people who cannot afford the limited edition will ultimately buy a standard bag just to have a Louis Vuitton. More notably, just the name Louis Vuitton itself shouts prestige and envy; an excellent selling tool.
LVMH "has pursued a consistent approach to developing the market, never compromising in the face of difficult operational obstacles, and, as always, controlling every aspect of the business" (Business Week, 2007). With selective, quality-and-detail-oriented buyers, LVMH products overwhelmingly meet these standards in all of its products. In places like Japan whose "luxury customers are demanding and have an eye for detail" architecture has become an integral part of brand identity – LVMH
References: Are counterfeit Louis Vuitton bags good for Louis Vuitton? (2011). Retrieved from http://theweek.com/article/index/216045/are-counterfeit-luis-vuitton-bags-good-for-louis-vuitton Louis Vuitton 's life of luxury. (2007). Retrieved from http://www.businessweek.com/.../online- extra-louis-vuittons-life-of-luxury Marinovich, S. (2007). Louis Vuitton king. Retrieved from http://www.brandchannel.com/features_profile.asp?pr_id=310 Tirrell, M. (2009). Fake Louis Vuitton bags don 't fool anyone. Retrieved from http://www.businessweek.com/innovate/content/dec2009/id2009127_845611.htm