Brand management, louis vuitton, prisme
Louis Vuitton was founded in the XIX century as a packing-case making firm. These packing cases were very useful because at that time people used to travel a lot for a long duration that lasted several months, and even several years. Packing cases of those times represent suitcases on castors. However, old packing cases are useless presently and are more a symbol of art than as a tool to transport affairs. Vuitton is part of the LVMH group managed by Bernard Arnault, the captain of the industry. In 2005, LVMH was composed of at least of fifty different brands with a turnover of 14 billion of euros and a profit of 2.7 billion of euros. With 2.8 billion of turnover, Louis Vuitton is the most significant brand of the LVMH group and one of the most well-known. Louis Vuitton is the McDo of the luxury industry (Dana Thomas, Luxe & Co: Comment les marques ont tué le luxe, 2008). As an uncontested leader of the luxury sector, with its skyrocketing sales, shops present everywhere worldwide and on most important tourist places, Louis Vuitton has indeed come a long way. Mostly located close to a McDo, it has a logo as recognizable as the famous M gilded of the famous American fast food chain. A brand cannot function without a strategy and the function of brand management is to implement brand strategy. How we can evaluate the Louis Vuitton brand? And how could Louis Vuitton brand be developed in the next 5-10 years? We will try to study these two points by analyzing the Louis Vuitton brand through appropriate theories and models from inception to the present day.
[...] Part Give suggestions as to how the Louis Vuitton brand could be developed in the next 5-10 years. Counterfeiting: Louis Vuitton's products are the most counterfeiting worldwide of the luxury sector. Indeed, counterfeiting is an important issue to take care about in the luxury sector because the “vulgarization” contributes to affect the brand image and his prestige negatively. Louis Vuitton should increase again and again his battle against counterfeiting by making sensitive the consumer. In that way, Louis Vuitton could develop a special counterfeiting department charging to create specific campaign to make sensitive customers about counterfeiting, and hire a special team to struggle this problem which remains an important issue of Louis Vuitton. [...]
[...] We will see in the years coming how old values are revisited by Jules Kûhn to see if he chose a new strategy or if he is continuing in the way of the old artistic director. And if the strategy adopted is concordance, in agreement with the old cultural values. References Books and Academic Texts & Papers: Dana Thomas, LUXE&CO: comment les marques ont tué le luxe Uché Okonkwo, Luxury Fashion Branding Frisch, Etude Marketing et Opinion CIM (Chartered Institute of Marketing) E. Martinez and L Chernatony Journal of Consumer Marketing S. Balachander and S. [...]
[...] For example, Louis Vuitton chose M. Gorbachev for their campaign but he is not a fashion symbol at all and his Vuitton is just seen in second plan as a witness of what happened. To sum up, mains values standing for Louis Vuitton are EXPENSIVE, BAGS, LUXURIOUS and HIGH-CLASS. That is the four brand associations that we can do to this brand, the more representative. To have a larger view on LV's brand association we can use this scheme: rates are going from 1 to and 1 is meaning for poor image and 7 for strong image: Brand Identity To begin we have to differentiate two concepts: brand identity and brand image that we just have seen: - Brand image: appropriate to receivers. [...]
[...] Indeed, Louis Vuitton's brand inspires to travel but above all to the dream. Services are considered as essential, equally to the offer and to quality. Indeed, all is done in order to satisfy customers. These values contribute since 1854, to make of Louis Vuitton, one of the French symbolic luxury brands. Louis Vuitton company is part of LVMH Group (Louis Vuitton Moet Hennessy) since 1989 and is one of the most important luxury groups worldwide. This group is composed of five mains activities which are: Wines and spirituous (Hennessy, Mercier, Dom Pérignon ) Fashion and leather (Louis Vuitton, Kenzo, Lacroix ) Perfumes and cosmetics (Dior, Guerlain, Givenchy ) Watches and jewelry (De Beers, Tag Heuer ) Specialized distribution (Sephora, Bon Marché, ) Louis Vuitton is one of the main brands of the group as we can the famous letters are part of the LVMH name, and this, in front of prestigious brands of his sector, jewelry and other else. [...]
[...] Packing cases of this time represent suitcases on castors of nowadays. However, nowadays old packing cases are useless and are more a symbol of art than a tool to transport affairs. Vuitton is part of the LVMH group managed by Bernard Arnault, the captain industry. In 2005, LVMH was composed of at least of fifty different brands with a turnover of 14 billion of euros and a profit of 2.7 billion of euros. With 2.8 billion of turnover, Louis Vuitton is the main brand of the LVMH group and the most well-known. [...]
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