Louis Vuitton is the world’s biggest, most influential luxury-goods company. Can a global behemoth retain its air of exclusivity?
The show was kick-started by a short coming-of-age film directed by celebrated French movie director Michel Gondry and his brother, Olivier. Grammy-winning pop star Rosalía then climbed on top of a bright-yellowcar in the center of the stage and delivered a searing set of rap, flamenco and pop. Models filed across the stage, in formal wear, in tracksuits, and plenty in between, many carrying bags.
Louis Vuitton—famous for its brown LV-monogram canvas bags—is the biggest brand owned by LVMH, which also includes Tiffany & Co., Dom Pérignon Champagne and fashion houseLVMH doesn’t break out individual brands’ financial results, but analysts say Vuitton’s profit margin came in at around 50% last year, up several percentage points since 2019 and representing one of the highest in the industry.
Its scale allowed it to plow ahead with store renovations and expansions in the pandemic years of 2020 and 2021, including new locations in Tokyo and Miami. It kept its marketing machine humming, rolling out major ad campaigns at a time when many of its competitors were cutting costs. Within a decade, under Mr. Arnault’s tenure, Vuitton more than doubled its number of stores, spreading its distinctive bags, with their omnipresent LV logo, around the world.
This entailed a change in strategy, from trying to be the dominant leather-goods company to aiming to be the pre-eminent luxury-goods company. A decade ago, Louis Vuitton stores sold mostly leather goods like bags, wallets and small accessories. Today, the majority have added categories like women’s ready-to-wear, men’s ready-to-wear, shoes, watches, jewelry and perfumes. The company even sells dog carriers designed to look like miniature versions of its classic trunks.
The brand has yet to replace Mr. Abloh, who died of cancer in November 2021. But it is continuing to draw on streetwear for inspiration. Its latest menswear collection, exhibited last month at the Louvre, was designed in part by Colm Dillane, a 31-year-old New Yorker who runs the streetwear brand KidSuper.
The company also cultivates art-world connections to burnish its cultural bona fides, a halo that extends to even its most humble products. The Fondation Louis Vuitton, the company’s museum in Paris, is currently holding a major exhibition exploring the connection between impressionist painter Claude Monet and American painter Joan Mitchell.
Bernard Arnault, head of luxury-goods conglomerate LVMH, has a net worth larger than that of Elon Musk and Jeff Bezos. WSJ’s Nick Kostov explains how the French business magnate amassed his fortune and how he plans to keep that wealth under family control. Photo: Nicholas Kamm/Agence France-Presse/Getty Images
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
What We Know About Louis Tomlinson's Upcoming Documentary 'All of Those Voices'What We Know About Louis Tomlinson's Upcoming All of Those Voices Documentary
Lire la suite »
Whistleblower lifts lid on St. Louis kids gender clinic: ‘Morally and medically appalling’“Anyone who raised doubts ran the risk of being called a transphobe,” the whistleblower said.
Lire la suite »
St. Louis-based dietetics consulting business Dining RD buys Nutrition Alliance - Phoenix Business JournalIt's the third acquisition by Health Technologies Inc., a St. Louis-based provider of registered dietitian consulting services, since it received a private equity investment two years ago. The founder of the Tempe company will stay on in a new role with HTI.
Lire la suite »
St. Louis-based dietetics consulting business Dining RD buys Nutrition Alliance - Phoenix Business JournalIt's the third acquisition by Health Technologies Inc., a St. Louis-based provider of registered dietitian consulting services, since it received a private equity investment two years ago. The founder of the Tempe company will stay on in a new role with HTI.
Lire la suite »
'Fast X' Director Louis Leterrier Had to Rewrite Third Act on Four Days' Notice'Fast X' director Louis Leterrier revealed that he was given four days' notice to rewrite the film's third act.
Lire la suite »