Louis Vuitton, also known as Louis Vuitton Malletier, or through its monograms LV, is a France-based luxury products manufacturer and fashion house. In 1854, it was set up by Louis Vuitton, a French business tycoon, and fashion designer. The headquarters of the company is based in Paris, France.
Louis Vuitton ranks among the renowned global fashion houses in the world. It markets its merchandise via rental or hire-purchase sections in classy retail outlets, individual dress shops, and the e-commerce segment of its web portal.
The monogram or initials of the brand, LV comes on the majority of its product lines, starting from leather items and deluxe shorts to readymade garments, watches, footwear, ornaments, accouterments, books, and sunspecs.
For 6 successive years, from 2006 to 2012, the company was nominated as the most treasured deluxe brand name in the world. In 2012, Louis Vuitton was valued at US $25.9 billion. The brand had a value of US $28.4 billion in 2013 and the amount of revenue earned was US $9.4 billion. Louis Vuitton runs its business in fifty nations across the globe with over 460 outlets.
The LV emblem and the Louis Vuitton brand rank among the most appreciated brands around the world. As furnished by a survey conducted by Millward Brown in 2010, the brand was at that time the 19th worthiest brand in the world and was valued to be priced more than US $19 billion.
For 6 successive years, the brand ranked as the top of the 10 most influential brands as brought out by the 2011 BrandZ survey conducted by Millward Brown Optimor and the valuation stood at US $24.3 billion. It was over twice the worth of the brand that was ranked 2nd.
Louis Vuitton ranks among the most copied brands in the world of style because of its epitome as an asset. Ironically, the moniker Monogram Canvas was generated to foil forging. Louis Vuitton copies in 2004 represented 18% of fake accouterments confiscated in the European Union.
Louis Vuitton is dynamic in its approach to root out faking and recruits a group of attorneys and special probe bureaus to track wrongdoers via the courts across the world.
The firm earmarks around 50% of its communications allocation to offset faking of its brands.
The holding company of Louis Vuitton, LVMH, has depicted some sixty individuals at different echelons of duty functioning whole-time on anti-forging in partnership with a broad grid of international detectives and a group of attorneys.
Louis Vuitton meticulously regulates the delivery of all its merchandise.
Till the 80s, Louis Vuitton goods were extensively marketed in retail outlets like Saks Fifth Avenue and Neiman Marcus.
Currently, Louis Vuitton items are mostly available at firm-operated Louis Vuitton dress shops, with a limited number of exclusions observed in classy shopping zones or within deluxe retail outlets. Branded dress shops inside departmental shops run autonomously. They are managed by workers and firm supervisors.
Louis Vuitton features a formal online store, via its principal website.
In 2006, LV sued Manifest Hostmaster and Manifest.com, also known as Manifest Information Services Ltd., a Colorado-based firm, via WIPO (World Intellectual Property Organization), to force Manifest to shift LV.com, the name of the domain to LV. However, the lawsuit was unsuccessful. Afterward, LV= (Liverpool Victoria) took over the domain. It is the biggest fraternal insurance provider in England.
Several eminent rappers have cited Louis Vuitton in their wordings, most remarkably: Kanye West, Bohemia, Wiz Khalifa, and Juicy J.
Products of Louis Vuitton
- Handbags (Neverfull and Speedy bags)
- Leather goods
Louis Vuitton Special Partnerships
LV has had various partnerships and affiliations with renowned performers and stylists.
Takashi Murakami made limited edition assortments like the Monogramouflage Collection that made its entry in 2008. There was an earlier assortment, launched in 2002, that highlighted a few of his paintings. The designs were “drawn” on the old-fashioned symbol painting, which added a far-reaching new turn to the ageless blueprint.
Marc Jacobs honored an earlier partnership, planned by Stephen Sprouse as well. This variety initially launched in 2001, highlighted boldface motif that appeared similar to drawings, on the old-style image. The regeneration of the collaboration utilized a similar concept. However, it fetched a fresh turn utilizing bright shades such as orange, neon green, and hot pink, that gleam at night as well. In 2009, this regenerated edition of the drawings variety was ultimately launched to abundant flourish.
In 2009, LV partnered with Kanye West as well, creating his own special series of footwear.
In 2012 July, Marc Jacobs collaborated with Yayoi Kusama for generating the “Infinitely Kusama” assortment that highlights bright shades of spots on the symbol painting or the Vernis leather. These bits are available in a black shade with white specks, red color with white specks, and yellow color with black specks.
LV partnered with Final Fantasy, the extremely well-known Japan-based video game dealer in its 2016 Spring-Summer variety promotional drive and the key female protagonist of the Final Fantasy XIII game, Lightning.
In 2017, LV entered into a partnership with Supreme, a US-based streetwear manufacturer, launching merchandise in different mushrooming stores in cosmopolitan cities across the globe. Products sport the Louis Vuitton symbol painting blended with the Supreme box-emblem layout.
Besides, in 2017, LV partnered with sculptor Jeff Koons for 2 assortments in an attempt to additionally research the juncture or crossroad of artistic creation and style.
In 2018, Nicolas Ghesquière teamed up with Grace Coddington, the creative director of Vogue magazine on a cat-conceptualized “Catogram” series.
In 2019 June, Louis Vuitton partnered with 6 present-day creative persons namely Urs Fischer, Sam Falls, Alex Israel, Nicholas Hlobo, Jonas Wood, and Tschabalala Self over Artycapucines. Every one of them created their edition of the Capucine handbags that were marketed in counted, small amounts.
In 2019 July, the company launched a short-term expo with the name Louis Vuitton X in LA, demonstrating products from its diverse partnerships for several years.
In 2019 October, LV collaborated with Riot Games for generating digital properties for fresh skin series known as True Damage. In the League of Legends game, the customers can distinctly view the LV emblem on Qiyana, together with a distinguishing plaque container for the League of Legends World Championship 2019.
In 2020 June, Louis Vuitton joined forces with Nigo, the Japan-based fashion designer for the Virgil Abloh limited edition series.
According to news reports, in 2020 October, Nicolas Ghesquière overhauled the La Samaritaine retail outlet for the 2021 Women’s Spring-Summer fete by offering a simulated airstrip with 360° visions and social-gapped sitting arrangement for invitees.
Louis Vuitton Publicity Campaigns
As an organization, Louis Vuitton fosters a fame following. It has highlighted well-known performers, models, and actors like the following in its promotional campaigns:
- Keith Richards
- Jennifer Lopez
- Kim Kardashian
- Matthias Schoenaerts
- Sean Connery
- Gisele Bündchen
- Angelina Jolie
- Oh Sehun
- Mikhail Gorbachev
- David Bowie
LV typically utilizes print advertisements in hoardings and periodicals in multicultural cities. In the 80s, Louis Vuitton Placards created by Razzia were quite widespread. Earlier, It depended on chosen media for its promotional campaigns (often including esteemed celebrities such as Catherine Deneuve, Andre Agassi, as well as Steffi Graf) photographed by Annie Leibovitz.
Nonetheless, the director of the communication division of LV, Antoine Arnault, has of late resolved to get into the domain of movies and television. The one-and-a-half-minute commercial is delving into the idea “Where will life take you?” Furthermore, it has been interpreted into thirteen separate languages. It was the oldest commercial advertisement launched by Louis Vuitton of all time and Bruno Aveillan, renowned French commercials director, carried out the direction of the advertisement.
Daniel Lalonde, CEO and president of LVMH Watches (afterward, overseas CEO for LVMH brand names Dom Pérignon and Moët) in 2002 hired stars like Brad Pitt, Maria Sharapova, Uma Thurman, and Tiger Woods for promotional purposes shot by Patrick Demarchelier. According to news reports, commercials highlighting Tiger Woods resulted in a 30% hike in sales, leading to TAG Heuer becoming ranked as the #2 deluxe wristwatch brand in the United States by 2005.
Who are the competitors of Louis Vuitton?
The competitors of LV are the following:
- Aux Etats-Unis
- Au Départ
Louis Vuitton Key People
Michael Burke became a part of Groupe Arnault where he was entrusted with the responsibility for investiture in the US before being appointed as the Chief Executive Officer of Christian Dior US. He served in that position from 1986-92. Subsequently, he was nominated as the CEO of LV North America from 1992 to 1997.
In 1997, Burke was appointed the Global Managing Director of Christian Dior Couture. Subsequently, in 2003 he earned the position of the CEO and Chairman of Fendi.
In 2012, he was appointed as the Chief Executive Officer of Bvlgari and subsequently CEO and Chairman of Louis Vuitton. From 2021 January, Michael has been serving as the Chairman of the Board of Directors of Tiffany as well.
Michael Burke forms a part of the Executive Committee of LVMH (Moët Hennessy Louis Vuitton).
Mr. Burke was nominated as a member of the Fédération Française de la Couture Management Board in 2016.
Nicolas Ghesquière is a renowned fashion designer based in France and serves as the creative director of Louis Vuitton. Louis Vuitton merged with LVMH in 1987 and on November 5, 2013, Nicolas became a part of Louis Vuitton with the role of Artistic Director of Women’s collections.
In 2014 November, just 12 months following his advent at Louis Vuitton, the Wall Street Journal honored Nicolas by conferring him the Fashion Innovator of the year prize. Subsequently, in December, Ghesquière got the British Fashion Award in the category of the best global designer of the year.
Virgil Abloh has been serving as the artistic director of the men’s collection of Louis Vuitton. He is a US-based business tycoon, disc jockey, and fashion designer who has been serving in this position since 2018 March. He has a civil engineering degree from the University of Wisconsin at Madison and also a postgraduate degree in architecture from the Illinois Institute of Technology with a syllabus set up by Mies van der Rohe. Virgil also serves as the CEO of Off-White, the Milan-oriented brand, a fashion design firm he set up in 2012.
Louis Vuitton Financials (half-year ending June 30, 2021)
(All values are in Million Euros € unless otherwise stated)
Louis Vuitton Stock Performance
The stocks of Louis Vuitton are publicly traded with the ticker symbol LVMH. On September 3, 2021, Louis Vuitton ended trading at Paris Stock Exchange at €634.90 at 5:35 pm CEST (Central European Summer Time).
Louis Vuitton Viewpoint
As an organization, Louis Vuitton is committed to sustainability, and maintaining natural resources around the world is its utmost priority. The company is making it happen with the LVMH Initiatives For the Environment or LIFE program. Its activities are in sync with this program and will safeguard biodiversity throughout the globe to put it on the trail to a more eco-friendly future for comfort. It is acting responsibly on climate change and has a positive impact on society and its workforce.
Disclaimer: This article has been particularly written for students and researchers of business and finance and it is recommended that you should not use it to be as investment advice. It is always sensible to talk to your investment consultant while thinking about any format of investment.