Louis Vuitton Essay Example

the Titanic shipwreck are presented here, supporting the legend that Vuitton produced the only bags that survived the sinking of the Titanic.

Today, like yesterday, Louis Vuitton continues to uphold and nurture its historical expertise, the allure of precise craftsmanship, and the use of top-notch materials to produce valuable products. Each aspect and element of the brand's signature remains faithful to tradition. In fact, the Louis Vuitton signature is instantly recognizable amidst countless others, most notably due to its iconic monogram. Price-wise, we will now discuss the pricing policy for Louis Vuitton bags in France: * Regarding pricing, it is important to mention that Louis Vuitton is a luxury brand, thus its prices are higher due to the exceptional quality of materials used and the notable reputation associated with the brand.

The company employs a skimming strategy to increase profits by establishing high prices for specific customers and reinforcing their luxury image. Another distinguishing characteristic is that products are never discounted, enabling them to maintain their exclusive brand identity. The price range for handbags is $550 - $3,700, wallets range from $200 - $700, and bags vary between $500 - $4,000. Promotion techniques involve avoiding popular media outlets such as radio or TV and instead collaborating with renowned personalities like Madonna, Scarlett Johansson, and even Mikhail Gorbatchev to represent the various styles of the Vuitton house. Additionally, they advertise in prestigious fashion magazines such as Vogue, Elle, and Madame Figaro while also sponsoring events. Products are exclusively sold in esteemed selling points including stores and department stores; however, Louis Vuitton has recently ventured into online sales within the French market.

All accessories, bags, luggage, and watches are available

for online purchase, except for ready-to-wear items. However, there is a concern about potential damage to the brand's reputation from selling products online. This worry is particularly relevant for Louis Vuitton because their strategy has focused on exclusive distribution. In this analysis, we will explore the reasons and approaches that have contributed to this brand becoming Japan's leading luxury brand. It is worth noting that Japanese people highly value brands with a deep history and well-established traditions. This factor has played a significant role in Louis Vuitton's success in Japan.

The Japanese highly value the expertise of the French in luxury and see it as a crucial element. They view Louis Vuitton as the ultimate representation of French luxury. Furthermore, the Japanese have a strong inclination towards superior products. Despite their usually limited living spaces, they relish the chance to possess items of exceptional quality and opulence. The success of Louis Vuitton bags in Japan has been extraordinary, largely because their enduring appeal is rooted in designs that have remained relatively unchanged for numerous years. In contrast, competitors of Louis Vuitton introduce new collections annually.

Japanese consumers highly value the durability and timeless appeal of their bags, expecting them to remain fashionable for a long period. It is customary for both genders in Japan to possess a Louis Vuitton bag, with roughly one out of every six Japanese individuals owning at least one item from this renowned brand. While 40% of Japanese women own a LV bag, the percentage significantly drops to approximately 1-2% among French women. Nonetheless, the Japanese have a specific preference: they prefer monograms that are prominently displayed. The visibility of the Louis Vuitton

label is crucial for Japanese consumers, and designs lacking prominent initials tend to be less popular within this demographic.

In Japan, there is a significant fascination with Louis Vuitton, as the brand consistently sells approximately 5 million units of their "Keepal" and "Speedy" bags annually. Over one-third of their sales come from Japan. It is interesting to note that for Japanese tourists, visiting the Vuitton store on the Champs Elysees holds as much importance as visiting renowned landmarks like the Louvre or the Eiffel Tower. In Japan, a Louis Vuitton bag costs around 65,600 yen (626 dollars), which is more expensive compared to France. However, the Japanese consider this higher price as a sign of exceptional quality.

No special method exists for communicating with Japanese consumers, despite the universality of Louis Vuitton. The brand relies on French expertise and an image of glamour and luxury. Their clientele consists of global travelers who purchase items in New York, Paris, Tokyo, and other locations. The key is to convey a consistent message, atmosphere, and essence worldwide, whether in Japan or elsewhere. Nonetheless, the sole unique occasion in Japan was the introduction of a novel wallet collection featuring a new monogram design created in collaboration with a Japanese manga animation artist named Takashi Murakami.

LV has recently released a new line of wallets in various colors and has commenced an advertising campaign. Louis Vuitton was the pioneering luxury brand to establish its own stores in Japan, bypassing intermediaries, back in 1978. Since then, the brand's presence has grown, and now it boasts over 54 stores in Japan compared to just 5 in France, making it accessible in most major Japanese cities.

The exclusive distribution system holds great significance for the Japanese market as it ensures the availability of authentic products while minimizing the risk of fraudulent activities.

The desire for reassurance in purchasing luxury products among the Japanese people is met by their preference to exclusively buy them at a Louis Vuitton store. Notably, Tokyo houses the largest Louis Vuitton store, surpassing even those in Paris or New York. It is important to note that Japanese regulations are more flexible compared to Europe, allowing for the establishment of exceptional shops like those found in Omotesando. In fact, architecture now plays a crucial role in defining the brand's identity. A new era has begun where the customer's experience within the store holds almost equal importance as the product itself.

In Tokyo, the Japanese have such a strong affection for Vuitton that when the label decided to open its largest store in the world on Omotesando Avenue, also known as the Japanese "Champs Elysees," in 2002, over a thousand people eagerly waited in the street (sometimes for up to two days) equipped with sleeping bags and food, just to be among the first to enter the new store. Japan is a crucial luxury market, as Nippon customers account for 70% of global luxury goods purchases. In less than thirty years, Japan has become Louis Vuitton's top market, generating more than one billion euros in turnover for the brand.