The varieties of products that LV offers are finest bags, unique dresses, designer shoes, and exquisite watches. It also has other range of products such as wallets, eyewear, jewelry, scarves, briefcases, belts, etc. In a nutshell, what proves that the product strategy of Louis Vuitton is flourishing, in my own point of view, is that its products show an economic and a social status of those who purchase them. Also, the replica cannot copy the quality of the bag because most people forget that these products were produced to be very durable at the first
Name - Mayank Saxena Case write up: Louis Vuitton Executive Summary Louis Vuitton’s (LV) major source of revenue was Fashion and leather goods which was 35% as compared to other products and 20% of this revenue came from Japan, undoubtedly a strong hold in the Japanese markets, with that being said, there are a lot many opportunities for LV to exploit in terms of new and emerging markets like China and India, which have a lot of untapped potential. They can expand their market segment by targeting the middle class and upper middle class bracket, and diversify their target audience i.e. women by introducing clothing for men and children. The key to deal with the current situation of LV would be to reduce dependency on Japanese markets and
In this way, LV may offset the decline of growth rate in Europe by increasing purchases from China. Also, in China, there is one unique characteristic of the market. The youth in China has strong motivations towards luxury (Ngai &Cho, 2012). Therefore, when considering the market, the company can consider the differences existing in the generation in order to target the market
The company’s logo and monogram being seen on their products is something which is easily recognized by every customer. It is not only well known but has a rich history. Louis Vuitton is known globally and has a strong image in Singapore, China, Hong Kong and Japan which are leading financial hubs and individuals with high net worth. Largest luxury brand with exclusivity Traditional craftsmanship is not compromised by Louis Vuitton as these products are made to fine details and of exquisite material, discount and promotion does not happen and defective products are disposed immediately as written in their policy. Louis Vuitton products are highly priced due to superior quality, degree of scarcity and exclusivity.
India is a low-income economy. Can this dichotomy be reconciled? I definitely think this can be reconciled. I think that LV’s early relationship with the maharajas offer them solid ground in the market. This loyalty between LV and the maharajas established LV’s brand as exclusive and for the wealthy, which grants them a lot of benefits during their target of HNW individuals.
Mr Arnault also mentioned Louis Vuitton’s development plans are to expand existing stores instead of opening more boutiques to avoid the label from being seen as too much of a commonplace. Launching new boutiques has been a key strategy by LV to boost revenues in the past (Wendlandt, 2013). Louis Vuitton’s impressive marketing strategies over the years has created such a strong branding and image for the company, however, nobody can assure and predict the brand’s success in the future, especially in today’s rapidly changing fashion industry. Changes in consumer behaviour can be erratic, and constant threat from competitors can be intense, hence, Louis Vuitton’s upcoming concepts and strategies will be crucial in sustaining its competitive advantages and consumer
LVMH originated in France so they have to take into account the culture of the new market. They had to look at a number of factors including, Chinese fashion trends, tastes, marketing and beliefs. They do not want to offend the Chinese consumer market by accidentally insulting their beliefs. Also, for the products and marketing to be successful LVMH need to attract the attention and appeal to their target audience. The businesses own culture was also adapted to appeal to a more middle-class market due to an economic down turn in China.
This seems quite odd as the concept of luxury is tied to rarity and exclusivity. This has put a question mark on the sustainability in the growth of Louis Vuitton, for how long it will be maintained. But it is to be noted that the growth in revenue due to more
during the shipment, to avoid the brand counterfeiting. The leather suppliers like Heng Long International Singapore are taking part of Louis Vuitton administration, owning 51% of the shares in order to deliver for the factories the most qualitative raw materials. For the distribution area LV are in a very strictly and confident agreement with Kuehne + Nagel Japan who are taking care of the distribution and logistics worldwide. All the shipments from supplier are being brought into the 7 factories from Spain, France and US only for fashion leather goods of Louis Vuitton where the products are manufactured on high standards with automatized production lines. Louis Vuitton keeps the whole information and services strictly confidential and secure in order not to have leaks of information regarding the manufactured products.
Introduction This report is about applying relevant customer service knowledge that we have learnt and assess on the service level of mystery shopping on LV also known as LOUIS VUITTON which is located at Ngee Ann City, Takashimaya Shopping Centre. The report will include the brief background of Louis Vuitton, service culture & beliefs, service delivery such as handling of enquiries, communication skills and body language by the staff while serving customers and meeting expectation of the customer’s or company’s expectations. Giving recommendations and suggestions for the retail outlet to improve on their services towards customers. Brief background of Louis Vuitton (LV) Louis Vuitton Malletier, is known as Louis Vuitton or shortened to LV, is a French fashion house founded in 1854 by Louis Vuitton. The label “LV” appears on most of its products such as luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelleries, accessories, sunglasses, books, scarfs and wallets.