1. Louis Vuitton is one of the most popular luxury brands if not the most popular brand in the world. The luxury brand generates millions of dollars per quarter in sales all over the world. The LVJ brand took a risk by opening a stand alone store in an area that wasn't known for high end stores."Tokyo had no major street known for its luxury brands such as Foubourg Saint-Honoré in Paris or Fifth Avenue in New York" (Fashion Branding Unraveled). The company also changed its tradition of focusing on women take make up a large portion of their consumer segment. men's products were introduced, including watches, scarves, bags, and pens. "The merger meant transforming LV from a brand with traditional luxury products to a fashion company offering a ready-to-wear collection" (Fashion Branding Unraveled).
2. It is a huge change for a company that is over 100 years old to have a dramatic change in the way that they sell products. LVJ had to adopt new philosophies in because the shopping habits are different for people from japan. It was hard to measure the success of the LVJ project because of the economic situation that caused certain companies to adjust their inventory control. In their new strategy, LVJ used local marketing and advertising agencies because it was believe that the traditional world advertising agencies would not have a huge impact. "Advertisements that were produced locally rather than using their universal ad campaigns since brand recognition in Japan was still limited and largely based on its bags" (Fashion Branding Unraveled). LVJ has shown that a name alone does not guarantee success, selling techniques and strategies have to change in order to be successful in different areas.
2. It is a huge change for a company that is over 100 years old to have a dramatic change in the way that they sell products. LVJ had to adopt new philosophies in because the shopping habits are different for people from japan. It was hard to measure the success of the LVJ project because of the economic situation that caused certain companies to adjust their inventory control. In their new strategy, LVJ used local marketing and advertising agencies because it was believe that the traditional world advertising agencies would not have a huge impact. "Advertisements that were produced locally rather than using their universal ad campaigns since brand recognition in Japan was still limited and largely based on its bags" (Fashion Branding Unraveled). LVJ has shown that a name alone does not guarantee success, selling techniques and strategies have to change in order to be successful in different areas.
No comments:
Post a Comment