150 years later, LVMH Group, which belongs to Louis Vuitton, has become the largest luxury goods group in the world, and its brands cover all famous brands in the luxury goods industry (such as Hennessy), among which the Louis Vuitton brand accounts for more than two-thirds of the sales.
From 65438 to 0978, Louis Vuitton entered Japanese market. In less than 30 years, Japan has become the largest luxury brand market of Louis Vuitton, with turnover exceeding 1 100 million euros.
Japanese people's obsession with Louis Vuitton has reached an incredible level: in 2002, when Louis Vuitton opened the world's largest flagship store in Tokyo, more than 1000 people were waiting at the door. Some people waited for two days with sleeping bags and food, hoping to be the first people to enter the mall.
To understand the real reason why Louis Vuitton maintains its lasting charm and becomes the most profitable luxury brand in the world, we must bypass its dazzling appearance. On the one hand, quality is also the company's strict management of the sales network (Louis Vuitton handbags are never sold at a discount), and the most important thing is its willingness to innovate and its ability to open up new markets.
Today, Louis Vuitton is becoming more and more powerful, with annual sales of 3.8 billion US dollars, almost twice that of its competitors Prada and Gucci. In 2003, the operating profit rate of Louis Vuitton reached a record 45%, while the average profit rate of luxury goods industry was only 25%.
From 65438 to 0992, Louis Vuitton entered the China market. From the beginning, it was limited to hotel sales, and in September this year, his first flagship store in the Mainland opened in hang lung plaza. Louis Vuitton has always maintained a pioneering spirit. Today, Louis Vuitton has 322 stores in 52 countries, but its development is still accelerating. In the luxury goods industry, it is one of the few (even the only one) enterprises that dare to take risks and take root in new places such as Vietnam.
Bernard arnault, chairman of LVMH Company, said at the Hong Kong brand launch conference in early June and February that most of its brands have entered the mainland market, but the expansion has just begun.