LV is named as the world’s most valuable luxury brand. It stays fresh while retaining its cachet in the following ways. LV develops an effective positioning among competitors. LV positions itself as high end prestige product of leather goods, handmade, state-of-art materials and craftsmanship to produce the finest product. Its brand uniqueness creates competitive advantages. The unique selling point of LV is its handmade product and craftsmanship. LV collaborated with other brands to product rare and limited editions of products to attract its brand awareness and create brand distinctiveness. LV products can only be found in exclusive distribution channel. Standalone boutique or flagship stores can be found in upscale shopping district and inside high end department stores or through ecommerce section of its website to ensure authentic LV products. LV grows its business by extending its product lines from women’s collection to men’s collection. LV make use of prestigious stars, high profile celebrities, models, musicians and actors for the launching of marketing campaigns.
LV is one of the most counterfeited brands. However, the counterfeiting is not always negative whereas some positive effect can be created instead. From LV perspective, the counterfeiting issue triggers LV to redefine its marketing strategies time to time. It speeds up LV to design innovative and creative products to lure customer in order to position itself as a trendy and fashion brand. For pricing strategy, LV never have discount promotion to differentiate it from low end and counterfeiting products. Instead, VIP programme is launched to reward loyal customers. LV closely controls the distribution channels of its products to minimize counterfeiting. LV products are mostly available at authentic LV boutiques. The boutiques in department stores operates independently and have their own LV staff.