LouisVuitton

1. How does an exclusive brand such as Louis Vuitton grow and stay fresh while retaining its cachet?
Louis Vuitton (LV), which was founded in 1854 and has been a single luxury brand, today is a part of the world big conglomerate of luxury products LVMH. No matter if there is a crisis in the country, there are always rich people, who will buy things and products they are accustomed to; that is why the luxury market is the most stable one. LV brand has maintained the image of luxurious and exclusive products no matter what the company produced. In the course of time, the company extended its business from famous suitcases and handbags made by hand, to clothes, accessories, jewelry, timepieces, and perfume. LV tried to embrace all the aspects of the luxurious life in a high-end segment of the market. All these products are supposed to complement the image of a rich and refined person. One of the secrets of the brand’s longevity is in its stability. LV has never stepped aside from its original idea of luxury and exclusivity.
Another point is that LV has always focused on customization to satisfy its customers. The company pays much attention to the staff of the stores, who present LV to the final buyer. LV has about 460 stores in 50 countries. However, at times, Louis Vuitton stops opening new stores and extend the old ones for presenting exclusive products and their variations and creating more intimate, high-end atmosphere in the stores. This common strategy helps LV to raise profit. LV keeps up with the time; that is why the company opened a website for online shopping in order to reach even more people in every region of the world. Internet is the easiest way of shopping today. On the one hand, LV’s customers are supposed to be rich and busy; these people do not have time for going in for shopping. On the other hand, LV’s female customers often do have much time for shopping and love it; therefore, the company tried to satisfy both categories of customers making website for shopping and creating an intimate atmosphere in real boutiques.
Merging with Hennessy and Moet made LVMH multibillion brand dedicated to all aspects of a person's luxurious life and creating a unique standard of a person belonging to the high society.
To stay fresh, LV invites celebrities for advertising the brand, creates original television commercials with unforgettable slogans, forms partnerships with artists, museums, and cultural organizations. Many of the famous people gladly agree to wear LV for the red carpet events.
2. Is the counterfeiting Louis Vuitton always negative? Are there any circumstances where it can be seen as having some positive aspects?
LV is one of the most counterfeited brands in the world. Annual sales of fake goods constitute almost 7 percent of the global trade. People all over the world spend millions of dollars for counterfeit products. Money loss is not the most important issue in the case with counterfeiting. Louis Vuitton has been defending its image as a luxury brand for many years, suing the manufacturers and the sellers of the fake LV products. The LV representatives refer to the intellectual property theft such as counterfeiting as equal to the crime. They claim that in case of counterfeiting both the manufacturer and the seller should respond. They also address to the customers of fake goods to stay away from the crime of financing counterfeits.
Counterfeiting damages brand name and image. Luxury brands accompany their products with certain messages and counterfeits ruin these marketing efforts. Counterfeiting in the U.S. costs companies about 250 billion of dollars a year.
The LV logo is one of the most copied in the world. LV handbags are the permanent object of counterfeiting. On the one hand, the company suffers from the popularity of the fake products and pays with its image. On the other hand, there were two studies conducted by the specialists that showed the positive aspects of counterfeiting. The study made by Gosline proved that the buyers of the fake products get attached with the real brand and after buying one or two copies crave for buying the authentic product. However, Gosline emphasizes that the copy cannot serve as a substitute for the real thing.
It is interesting how expensive brand boutiques get along with the counterfeit shops in the countries manufacturing the biggest batches of fake products, such as China, Philippines, Indonesia, Vietnam, and some others.
According to the article written in 2010, the fake products did not hurt LV much in 2008-2009, although the counterfeiting grew fast and could hurt it in the near future. However, the positive side of the fake bags sales is that the copies act as samples or free advertisements of the authentic handbags, and it boosts sales of the luxury brands like Louis Vuitton. Every person who wishes to find the differences between a fake LV handbag and an authentic one, hand-made, can find many useful articles in the Internet.
LV is aimed at the well-off people ready to spend thousands of dollars to live in luxury, and the company's patrons stay loyal to the brand. However, fake LV handbags become the choice of those who cannot afford or do not want to spend much money for a single purse, but still want to feel stylish and live a dream.
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