The ever pioneering French luxury brand, Louis Vuitton, continues to expand its already strong presence, on the Australian market. Currently with stores in Sydney, Melbourne, Perth, Brisbane, Surfers Paradise and Cairns (and if New Zealand is part of Australia, as we often like to believe), then count Auckland and Queenstown in the mix as well...
It is not necessarily a case of wherever Louis Vuitton goes, other luxury brands follow, however they have a history of entering new markets before they are even on the luxury radar or at minimum, in the very early stages of radar registration! They tend to pave the way or at least make competitive luxury brands more readily consider following on their extraordinarily high platformed heels.
Certainly this has been the case in Australia from their early foray in Sydney in the 80's and most recently with the announcement last year they were opening in Westfield at Bondi Junction in Sydney and the soon-to-be updated Chadstone Shopping Centre in Melbourne.
As we continue to write in The MO Down, luxury has longevity and every decision is considered with a long term view in mind. The decisions to expand in Australia have been part of a strategic growth plan that was put to bed, no doubt, a couple of years ago. So, despite the current 'wobbly economic boot' we find ourselves in, the expansion doesn't just stop. Plans continue, as they should, as the markets will recover and incumbency by luxury brands will be to their advantage, only further reinforcing their brand equity, increasing market share and ensuring a future of more sustained growth. Salut to Louis Vuitton, we say.