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11 Louis Vuitton An Analysis of the Company Louis Vuitton a trunk-maker in Paris since 1854 built up his legend around travel by creating luggage handbags and accessories that were as innovative as they were elegant The brand itself has embraced new innovation whilst cultivating its traditional roots thus allowing it to remain at the forefront of the luggage and accessory industry The Brand takes part in major events that share in its taste for excellence the Louis Vuitton Classic event bring together the most prestigious cars in the world and the Louis Vuitton Cup an essential part of the Americas Cup designates the best Challenger and prepares them to take on the Defender of the Americas Cup According to their financial report found on their website wwwlouisvuittoncom the company is constantly expanding and now includes 14 production workshops 287 exclusive stores 31 of which offer ready-to- wear shoes and leather goods and 107 which feature shoes and feather goods and has 7857 employees throughout the world In 1977 Louis Vuitton was merely a small family business with sales under 20 million Fifteen years later the 1 billion mark was attained a significant proportion of why it has reached this target is due to the astute marketing strategy that it has implemented 21 Louis Vuitton Customers The fact that Louis Vuitton has grown is quite phenomenal considering the fact that they are expensive in relative and absolute terms Moreover they are identified by Dubois and Claire 199568 as such when one considers them to be trivial products without any clear functional advantage over their non-luxury counterparts As a result many producers of luxury goods tend to believe their clientele comes primarily from upper income classes Evidence of this was gained from Stanley 19888 Indeed the managerial practices of Louis Vuitton and many other luxury goods companies are based on this presupposition For example Louis Vuittons media planning gives
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