Tuesday, 10 November 2009

Luxury Brands Embrace Emerging Markets – 10/11/09

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…

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au