Louis Vuitton
Question2:
Introduction
Louis Vuitton is the world’s biggest luxury brand for bags and accessories. It was established in France, Europe in year 1854. Louis Vuitton brand and company is an international well-established firm named after the founder and designer Louis Vuitton. Louis Vuitton entered Japanese market in year 1968, and it came the most popular luxury brand in Japan. In year 1970, LV opened its first stores in Japan, which had revenue of $1 Million on its first day. By 1977, the company owned two stores in Japan with annual profits of US$10 million Until Louis Vuitton, the strategy for business in Japan for multinational companies was to send their products through Japanese distributors (Nagasawa, 2009a). LV was the first company that took different approach and strategy of opening its own store in Japan. LV also hired Japan’s top designer for the Japanese Market products. In fact, LV tired to localize their products for Japanese to attract more customers as they saw the demand for the luxury in this market. One way LV localized their products was the use of Japan’s Classic Monogram Canvas Print on their bags, which was inspired by Japanese floral print. One way to show the success of LV’s business model is by using the four Ps.
How did LV enter into the Japanese market originally? What are the other entry strategies adopted later to strengthen its presence?
Enter of LV in Japanese market started in mid of the year 1970 however thanks to Vuitton Recamier family who was concentrated majorly on building the Japanese clientele. LV opted for the newer strategy through opening their individual shop in shops in between Japan without help of the Japanese distributor. Louis Vuitton turned out towards being the pioneer in establishing their individual subsidiary as well as exporting products directly from the France to Japan.
However, hiring the domestic Chief Executive Officer along with managers for leading Louis Vuitton within Japan
Introduction
Louis Vuitton is the world’s biggest luxury brand for bags and accessories. It was established in France, Europe in year 1854. Louis Vuitton brand and company is an international well-established firm named after the founder and designer Louis Vuitton. Louis Vuitton entered Japanese market in year 1968, and it came the most popular luxury brand in Japan. In year 1970, LV opened its first stores in Japan, which had revenue of $1 Million on its first day. By 1977, the company owned two stores in Japan with annual profits of US$10 million Until Louis Vuitton, the strategy for business in Japan for multinational companies was to send their products through Japanese distributors (Nagasawa, 2009a). LV was the first company that took different approach and strategy of opening its own store in Japan. LV also hired Japan’s top designer for the Japanese Market products. In fact, LV tired to localize their products for Japanese to attract more customers as they saw the demand for the luxury in this market. One way LV localized their products was the use of Japan’s Classic Monogram Canvas Print on their bags, which was inspired by Japanese floral print. One way to show the success of LV’s business model is by using the four Ps.
How did LV enter into the Japanese market originally? What are the other entry strategies adopted later to strengthen its presence?
Enter of LV in Japanese market started in mid of the year 1970 however thanks to Vuitton Recamier family who was concentrated majorly on building the Japanese clientele. LV opted for the newer strategy through opening their individual shop in shops in between Japan without help of the Japanese distributor. Louis Vuitton turned out towards being the pioneer in establishing their individual subsidiary as well as exporting products directly from the France to Japan.
However, hiring the domestic Chief Executive Officer along with managers for leading Louis Vuitton within Japan
References: Castets S., 2009 ”Eliasson, Olafur”, in Louis Vuitton: art, fashion and architecture, Rizzoli, New York Jill, G. 2012”33 colors”, in Louis Vuitton: art, fashion and architecture, Rizzoli, New Nagasawa, Shin 'ya (2009a), Marketing Principles of Louis Vuitton -The Strongest Brand Strategy -, Waseda Business & Economic Studies, No.44, pp.41-54, Graduate School of Commerce, WasedaUniversity. Nagasawa, Shin 'ya (2009b), Luxury Brand Strategy of Louis Vuitton - Details of Marketing Principles - , Proceedings of the International Conference of IASDR (International Association of Societies of Design Research) 2009, Branding 1, pp.1-10. Nagasawa, Shiri ya ed. (2010), with Kana Sugimoto, CHANEL Strategy Management of the Ultimate Luxury, Toyo Keizai Shinposha. (In Japanese) Saillard, O. 2009”The Empire of Signs”, in Louis Vuitton: art, fashion and architecture, Rizzoli, New York,