Earlier this month, Louis Vuitton opened its first store in Mongolia. This is a prime example of the luxury market’s new focus on emerging/untapped markets.
In an AFP article, Louis Vuitton’s Chairman, Yves Carcelle, said Mongolia is “a country that is taking off economically."
During the store’s launch, Louis Vuitton showcased a special saddle in a nod to Mongolia's "nomadic roots and strong horse riding culture." (click here to read more).
This expansion into Mongolia is a big step for not only Louis Vuitton but the entire luxury market. These emerging markets may become very important in years to come, perhaps influencing style and design. For decades, luxury brands have designed with the European market in mind, but that was when they knew which side their bread was buttered on…