Louis Vuitton is still not letting the recession stop their progress. Recently the brand opened their 9th store in the Middle East. Their European President, Jean-Marc Gallot, who was present for the store's soft opening, was quoted in a Business 24-7 article as saying, "This is the third store we've opened in the past four weeks, after London and Padova [Italy]. We want to keep the ball rolling. We want to move ahead."
Louis Vuitton has an affinity with the Middle East, where they have had a 25-year presence. Three years ago, you might remember that they even designed a scarf exclusively for theirMiddle East fans. Louis Vuitton should be admired for this crafty move. Knowing your market is crucial, but going the next step and creating a limited-edition product for the market specifically, is both extremely clever and tactical, and engenders loyalty.
Gallot also confirmed in the above article that licensing is not on their agenda. He stated, “To maintain the respect and the quality, we have to have total control." (For more on licensing, see the MO Down for 16/6).
If licensing is out, what can we expect from Louis Vuitton? Well Gallot suggests, “We want to keep surprising our clients, be on the edge of innovation and still be a lot of fun. Louis Vuitton is much more than a lifestyle, it's all about sophistication, beauty, good taste, quality, emotion and passion."
Hear! Hear! we say.
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