Louis Vuiton Case Study Essay
A country that compares to the size of Montana filled with luxury good shops makes for the ideal place to distribute Louis Vuitton. Louis Vuitton goods were first introduced in Japan through a department store with a single brand in its portfolio. Later the brand group to have over 250 stores from the LVMH group, with around 20 million women in Japan (out of the population’s total of 127 million) owning a handbag from the brand. Louis Vuitton is part of the LVMH group, which is Louis Vuitton Moët Hennesy. The LVMH group serves many industries, such as wine and spirits, fashion and leather goods, perfume and cosmetics, watches and jewelry and more. In 2009, fashion and leather goods account for 18% of total revenue, which is extremely significant …show more content…
For starters, more than 50% of revenues come from the Japanese market, while the numbers are extremely significant, it’s important for the company not to depend on the Japanese market and build sales elsewhere. The company focused on other large consumers in order expands their brand awareness. External factors challenged the success of the brand in the Japanese market. First, the terrorist attacks from September 11th caused a decrease in sales in luxury goods, which caused the brand to redefine its strategic approach. The second would be the 2008-2009 global economic crisis. During the time, the Japanese market remained healthy, but they would later face a decline in sales. Last, but certainly not least, was the Asian Financial Crisis, which least roughly ten years. Lastly, counterfeiting is a major problem for luxury goods, especially Louis Vuitton. A lot of the counterfeit goods came from South Korea and were distributed in the Japanese market. Most consumers owned the name brand handbag and used it for fancy occasions, but would purchase fake goods and use them for daily errands. While Japanese consumers are concerned with the quality of the good, the fake goods provided similar quality, which made them attractive to purchase. Louis Vuitton is a synonymous with status and allows consumers to feel like they belong to an exclusive club, while more and more
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