Louis Vuitton Malletier, or simply Louis Vuitton, is a French fashion house created by the famed designer Louis Vuitton in 1854. Most of the brand's products, including clothes, footwear, timepieces, leather goods, jewelry, accessories, and eyewear, include the founder's initials. Louis Vuitton is one of the world's most prestigious fashion houses, with products available through independent boutiques, license shops in high-end department stores, and online. In this article, we'll look at some of the success characteristics that have helped LV become a world-class brand.

LV was the most valued and lucrative luxury brand in the world for six years (2006-2012). The brand was valued at 25.9 billion dollars in 2012, with sales revenues of USD 9.4 billion. The corporation operates in 50 countries and has 460 locations worldwide.

The LV monogram and the Louis Vuitton brand are among the most valuable trademarks in the world. However, due to its image as a mark of high material wealth, its logo is one of the most frequently counterfeited in the fashion world. The canvas monogram was made to prevent counterfeiting at the very beginning of the brand's existence, which is ironic. In 2004, counterfeit Louis Vuitton products accounted for 18% of all counterfeit goods confiscated in the European Union.

History

Louis Vuitton recognized that the commonly used wooden luggage crates were heavy and inconvenient. The luggage was significantly lighter and more comfortable thanks to a new non-wooden canvas created by Louis Vuitton. He also modified the shape of them all by making them square. The bags could be stacked one on top of the other because of the flat top surface.

Many craftsmen began to copy the innovative design and workmanship. The corporation participated in an international exhibition in Paris in 1857 to promote its good design and brand. Fearing counterfeits, Vuitton changed the canvas hue to beige with brown stripes in 1876. In 1885, the first company store opened on Oxford Street in London. Following this, Louis designed a pattern with the inscription "marque L. Vuitton déposée," which can be interpreted as "L. Vuitton registered trademark," in response to the constant replication of the canvas.

Louis Vuitton died in 1892, and his son, Georges Vuitton, took over the company's management. Georges Vuitton launched an international expansion drive. In 1893, he participated in the World Exhibition in Chicago with his items. Three years later, the company was granted an international patent for the use of canvas bearing the initials LV and a graphic indication of clovers and flowers, which were inspired by the late Victorian era's practice of employing Japanese and Oriental ornamentation. These patents were quite successful in deterring counterfeiters. Georges sold his items in cities such as New York, Philadelphia, and Chicago. 

In 1901, the business unveiled its most recent creation, a little travel bag that can fit inside large bags and double as a cosmetics bag. The Louis Vuitton Building opened on the avenue Champs Elysées in Paris in 1913, and it was the world's largest store at the time, supplying travel luggage. New York, Mumbai, Washington, London, Alexandria, and Buenos Aires are among the cities where stores have opened.

The Keepall bag, with its long, cylindrical design, was introduced in 1930. The Noé bag, which copied its shape with a triangular sack tied with a string from the top, was the following model. This bag was designed specifically for winemakers to transport bottles of champagne safely.

In 2004, Louis Vuitton celebrated its 150th anniversary, with boutiques opening in New York, So Paulo, Mexico City, Cancun, and Johannesburg. The American architect Eric Carlson created the LV shop on the Champs Elysees in Paris, which opened in 2005. The brand's most opulent store opened in London in 2010. Kim Jones was hired as director of the men's line by Louis Vuitton at the beginning of 2011. Working under Marc Jacobs' aesthetic direction, Kim rose to prominence as a top menswear designer. The firm opened its first location in Southeast Asia, in Singapore, on September 17, 2011.

Using the Marketing Mix Product to Analyze LV

LV is a high-end luxury brand that sells only the best things. Its product lines are solely focused on the luxury market, with high-priced items, and it lacks the second line of operations to meet broad demand with lower-priced items. Typically, brands attempt to optimize earnings by increasing sales through every feasible channel. A smaller product variety would be advantageous in the short term but harmful to their reputation as a luxury brand in the long run.

This prominent brand's baggage is all handcrafted. It also self-merchandises the products, which limits their availability. As a result, these one-of-a-kind items are frequently sold out, with no price reductions, discounts, or bargain sales available. They offer make-to-order, which means that customers can purchase custom-made products based on their preferences, enhancing their image as a luxury brand.

Price

Value-based pricing is used by Louis Vuitton. Because special attention is devoted to the material quality, design, and manufacture of the products, the price is usually quite high. Customers believe the things are high-value items, and they are more than happy to pay the outrageous pricing. Because the company's target clients are elite and upper-middle-class individuals, it adopts a premium pricing structure.

Prices haven't decreased in 156 years, according to history. There are no end-of-season sales or other promotional pricing techniques employed on the products. This increases customer demand and discourages them from deferring their purchase.

Place

The products are not sold in department stores, and Louis Vuitton provides an exclusive distribution route. Their stores are mostly found in high-end shopping locations. The total number of stores is reduced, making operations more convenient and lowering costs, while the store size is higher than usual to grab customers' attention and retain the brand's image as an exclusive brand. The customer is treated with warmth and special care by the highly trained team.

Customers can also choose to have their old products repaired and refurbished. This is difficult since the materials are few and diverse. However, the corporation has set aside resources to address this issue. This increases brand loyalty and builds customer trust in the brand.

Promotion

Print media is LV's principal means of promotion. It does not use television as a marketing tool because it is a luxury brand that wants to reach out to specific audiences. The exclusivity of the brand is portrayed in fashion periodicals read by the upper crust. As a result, it can immediately contact the target audience without having to use several channels. For their marketing initiatives, LV partners with celebrities, actors, and models. Large lines in front of the store are also one of LV's techniques for appealing to the general public.

How does the company keep its brand value? - The Strategies for Success

Public relations as a tool: Managers at Louis Vuitton are in charge of protecting the brand's reputation and public perception by skillfully covering up past blunders. During the German conquest of France during World War II, Gaston collaborated with the Nazis. According to journalist Stephanie Bonvicini's book "French Saga," members of the Vuitton family openly supported Marshal Philipp Pétain's puppet regime, which greatly boosted their riches through business links with Germany. The Vuitton family established a factory to manufacture Pétain's praising items. This factory created about 2,500 busts of the Marshal during its lifespan.

"Louis Vuitton does not question the facts included in the book, but instead tries to hide them and pretend they do not exist," said Caroline Babulle, a spokeswoman for the book. "This is a long time ago in ancient history, and the book covers the period when the company was headed by the Vuitton family, long before the current managers," a company spokesperson said in response. Today's firm is diversified, tolerant, and modern, as it should be for a luxury products company."

Acquisitions: LVMH, a French conglomerate formed by the combination of Hennessy (a cognac manufacturer) and Mot & Chandon (champagne makers Dom Pérignon, Mercier, Krug, Ruinart, Veuve Clicquot-Ponsardin) with the Louis Vuitton company, was founded in 1987. The united businesses formed a luxury products powerhouse. Profits in 1988 were 49 percent higher than profits in 1987, which was before the merger of firms.

Counterfeiting Actions: It is critical for the brand to prevent attempts to reproduce and sell counterfeits. In 1999, the company introduced new product lines and adapted its iconic monogram in an attempt to combat counterfeit branded items. For small items like keychains and key cases, a micro monogram line was created. To detect attempts to sell or make non-original goods around the world, the corporation utilizes a team of lawyers and special investigative services.

Control on distribution: Louis Vuitton maintains stringent control over the distribution of its products. Vuitton products were generally available in stores until 1980; now, they can only be found in original brand boutiques, elite shopping districts, or luxury department stores. All LV boutiques are self-contained, with their management and staff. The brand's main website features its online store, which is the sole authorized online sales channel.

Unique Production Process: Manual, one-of-a-kind, and unaffected production processes are quite valuable in the company. Since the 19th century, Louis Vuitton bags have been handcrafted. For years, the method of manufacture has remained unchanged: workers stretch the leather on a suitcase, then hammer in tiny nails one by one. Brass buckles secure the bag's corners to protect the surface of the corners, which are the most prone to mechanical damage. The lock with the key is then activated, allowing the consumer to access all of his bags.