Louis Vuitton Case Study

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Louis Vuitton (named after its founder), is considered one of the most recognized and established high-end retail companies in the world. The company’s products range from men and woman’s clothing and accessories, to travel luggage and jewelry. Louis Vuitton accounted for over 9 billion dollars in sales in 2017 alone. With locations in over 49 countries and more than 450 stores across the globe (Forbes, 2018), these new products and service have the potential to increase the company’s bottom line, our customer base and or clientele and create more job opportunities within the organization. According to the reading, “New products are a vital part of a firm’s competitive growth strategy” (Peter & Donnelly, 2013). In an effort to meet these new goals, I have chosen to establish two services and one new product. LV Match Mates: • This service would consist of a virtual personal stylist, who once a month matches your desired tastes with the newest clothing and products Louis Vuitton has to offer. LV The Winners Circle Product Leasing: • This service allows customers to lease products and accessories without committing to buying them and the ability to upgrade, when new items become available. LV Luxury Pet Sweaters: • This product is a gender appropriate one-of-a-kind sweater for your family pet, and affords the pet owner the opportunity to dress alike with their dog or cat. When deciding how to generate a new product idea for public consumption,

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