Louis Vuitton Competitive Model
<6/10/14> <FTDipAcct11> <Quek Kai Xuan>
Title
Louis Vuitton
Introduction
Louis Vuitton(LV) and its label is found on 1854 by Louis Vuitton Malletier on Rue Neuve des Capucines in Paris, France. LV is a french fashion house, it label LV monogram appeared on almost every product. Example like luxury bags, leather that is ready to wear, watches, accessories, and shades. LV is one of the world leading international fashion houses as it sell it products through boutiques, department stores and website. (famoushotel.org n.d) Louis Vuitton brand and LV monogram are the world’s 29th most expensive luxury brand, it is estimated to be worth over USD $19 billions. For six consecutive years (2006-2012) Louis Vuitton is still at number one
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Its definition how people look at the competition in an industry. An high threat of new entrance can make the industry very competitive and cause the existing competitors to lost profit. In this case, Louis Vuitton threat of new entrants are Gucci, Chanel and Prada, these are the luxury brands that rely on the imagery of their products to appeal to the high-end market. Their pricing creates a high quality images and position that customer claims as a status symbol. Therefore customer would compare these few brands before buying of one the …show more content…
By doing this it can increase the popularity of the brands and also gain more customer. However, by doing all this it will need to cost a large amount and therefore the prices of the products will increase which will effect the sale of the product as not much customer will be willing to spent a huge amount on an item.
Conclusion
In conclusion, Louis Vuitton is about the same as other high-end luxury brand company, as they create new design every new season. However Louis Vuitton is a most well known brand by others as Louis Vuitton partner with a huge number of luxury brands and and other high-end luxury brands like Chanel, Prada and Celine do not partner as much as Louis Vuitton. Therefore in order to maintain the current or even higher standard of Louis Vuitton they have to come up with more new designs and ideas than the other high-end luxury
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