The leather sector is renowned for the quality of its products, especially in the luxury market. Louis Vuitton, the most prestigious French business of luxury leather goods, has, for years, been an incredible success, continually expanding its activities. Recently, consumer behavior has changed and competitive pressure has increased. However, Louis Vuitton continues to lead the market.
How did the luxury brand, Louis Vuitton, manage to convince the consumers especially the middle-class consumers to spend a fair amount of their money on Louis Vuitton products?
Leather goods range from utilitarian objects to essential accessories and complementary fashion dresses: wallets, bags, doors, maps, travel items, etc. This is the case of Louis Vuitton, which has rightfully earned worldwide success for the quality of its products and diversity. It is also a company with a history, tradition and an indisputable know-how.
In 1854, Louis Vuitton's history of continuous successes began. The modern luxury luggage was born and innovation emerged as the guiding principle for years to come. Today, everyone wants to own a product of the brand, which is described as a part of the luxury heritage of Louis Vuitton. The brand offers a collection that allows everyone to find happiness in each of its stores.
We will look first at the upscale leather goods market as a whole before considering Louis Vuitton's history, its evolution and positioning. Then we will examine its products and we will finally see through its various policies that Louis Vuitton holds all the keys to success.
Luxury is a significant world market, heavily concentrated in Europe and North America. The industry leader is undoubtedly France which holds the reins over nearly half of the production. Luxury is the second largest economic sector in France, thanks to the fact that it serves a broad customer base.
Buoyed by the accomplishment of the luxury sector as well as the popularity of French and foreign fashion goods, leather goods now have a promising future. Investment policies and research and development of large companies have allowed leather products to accommodate an increasingly changing market.
Handbags, belts, wallets, briefcases and other such products are now the indispensable objects for customers who have become increasingly addicted to fashion accessories. This has been a turning point in recent years and being ‘trendy' is just an outward sign of wealth. The possession of a ‘chic' and unique object is meant to satisfy one's desire for differentiation and originality. Women are the main clients because of their sensitivity to fashion trends. One can easily see an increase in demand by young women of 18 to 25 years of age.
Regarding the production of fashion accessories, leather goods are in the lead. Leather goods now act as the essential complements to the clothes we wear, obviously with the success of the handbag. But to understand this market, we need to analyze its nuances analyze it more closely. The leather market is a strategic market for the luxury industry. Indeed, this market is supported by the enthusiasm of customers. The leather goods sold in the market are growing steadily and offer particularly high levels of margin.
[...] After studying the high-end market in general, we turn now to a very specific business sector of the luxury leather goods: Louis Vuitton Malletier. II. Viewed by Louis Vuitton a. History A native of Jura, Louis Vuitton arrived in Paris in 1837. He worked as an apprentice to a craftsman layetier trunk-maker, or manufacturer of luggage and suitcases) in the capital. Skillful and hardworking, passionate about his job, Louis Vuitton fast became the favorite worker of the Empress Eugenie. He quickly secured rich customers, the ladies in Europe. [...]
[...] Major players in the luxury sector strengthen their positions abroad and are increasingly forced to increase their visibility in the case of LVMH (Louis Vuitton Moet Hennessy), a group that owns Louis Vuitton and is the leader of the luxury market. ϖ In stores Today, the number one global luxury brand, Louis Vuitton Malletier is also home to the most profitable group LVMH (resulting from the merger between Louis Vuitton and Moet-Hennessy in 1987), which contributes 60% to operating results. [...]
[...] group Bottega, AC leather multi-product Yves Saint in millions Laurent of euros: single-brand monoline Louis Vuitton must still find that competitors are not just only obstacles to business development; they may have weaknesses, just as the market presents them. ϖ Strengths and weaknesses Leather has a stable domestic demand supported by the luxury sector. The health sector is based on the reputation of the French leather goods in the world through the very large houses such as Louis Vuitton, Dior and Fendi. [...]
[...] Always looking to create, never underestimating its craftsmanship, Louis Vuitton has invested in several areas that are ready-to-wear, shoes, watches and jewelry.The bags still account for 95% of the business but this percentage should fall in the years to come. Diversification has been obvious to the leaders of the company. Different products attract new customers to stores. Some go into the store with the goal of shoes or jewelry, and leave along with a bag and more. The three components that enhance luxury are: a bag is a personalized approach, it should be technically perfect and the bag should be aesthetically beautiful. [...]
[...] Through its communication policy, Louis Vuitton enhances its image and it is attentive to the market in order to optimize the effectiveness of its communication campaigns. Each location has its share of promotional events. The presence of leading political figures, movie stars, singers and sports stars lead to intense media coverage. Louis Vuitton uses the facade of its stores under construction for advertising, as in New York where you could see Jennifer Lopez at a height of more than twenty feet. [...]
APA Style reference
For your bibliographyOnline reading
with our online readerContent validated
by our reading committee
