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Intro to Louis Vuitton

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Submitted By jara89
Words 367
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Luxury Brand Management Case of Louis Vuitton

1. Introduction

Louis Vuitton is a French fashion house founded in 1854 by Louis Vuitton. LV is mostly famous for its high-class leather bags and travelling trunks. It is also known as Louis Vuitton Moet Hennessy (LVMH) after merger with leading manufacturer of champagne and cognac, Moët & Chandon and Hennessy, in 1987. Louis Vuitton is one of the world most valuable luxury brands with the brand value of $29.9 billion according to the Forbes magazines listing November 2014. Quality craftsmanship, heritage and history are key factors of success for luxury brands like Louis Vuitton.
Louis Vuitton has been growing fast due to increasing demand in China. Chinese consumers have quickly risen among the world’s biggest consumers of luxury product and the growth doesn’t seem to end. LV has become extremely popular brand among the fashion conscious Chinese and Japanese consumers. Consumer surveys reveal that it is among the top 5 luxury brands in both countries. The brand is clearly visible in all of the main cities all around the world as it is very easy to find several girls carrying the LV bags, wallets, and others accessories. China is the most essential market for LV, but it still has to concentrate on keeping sales up also in other main markets like Japan.
The rise of LV in China and other markets is not a coincidence. It has been achieved through extensive strategic approaches and extraordinary luxury brand management. LV has successfully grasped their potential consumers in term of attitude, mindset, and behavior. Respectively, well managed business model, brand image, and marketing strategy has profoundly influenced the success of LV. However, the competition in today’s luxury markets is fierce so standing still is not a possibility. Especially, when LV has to deals with

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