Louis Vuitton
- Introduction
- Description of the company's background and position on the market
- World luxury market
- Position on the market
- Competitors
- Evaluation of the context and competitive environment and their effects on the firm's innovation strategy
- PPR- Gucci group
- The impact of competition on innovation strategy
- Analyze and discuss the company's approach to innovation and provide some examples of company's recent developments
- Description of innovations tools
- Louis Vuitton's strategy analysis
- Sugget a potential new product/service the company could launch and suggest the steps that a company needs to undertake in this process
- Introduction and purpose of our product
- Presentation
- Objectives
- Evaluate potential sources of success and difficulties of this product/service development and adoption by customers
- SWOT analysis
- Adoption by the consumers
- Conclusion
Louis Vuitton founded his company in 1854 after 20 years doing an apprenticeship in Paris and designing travel trunks. He was soon recognized for his talent by the stars and celebrities from his time. He and his brand became successful thanks to his modern luggage which were really convenient to travel. The quality of the fabric and its convenience made Louis Vuitton the symbol of the new art of traveling.
Louis Vuitton soon noticed that the rise of the modern transport were an opportunity for him. Therefore the development of his brand followed the rise of the train. Also, his luggage was quickly copied but that pushed him to innovate even more. His fabric Monogram designed in 1888 and still used today is one of the inventions which change the way people travel.
Because of its success and therefore the increasing demand of the customers, Louis Vuitton started opening shops worldwide. Indeed a store in 1885 a store opened in London then in Australia (1894) and finally in Asia (1898). This expansion made the brand famous all over the world.
[...] For almost a century the heirs of Louis Vuitton kept developing the brand and diversified his activities (ready to wear sunglasses, pens In 1987 the brand merged with Moet Hennessy and became LVMH, the biggest luxury brand in the world (see below). In 1997, the ready to wear division were entrusted to Marc Jacobs (famous New-Yorker designer), who perpetuated the traditions of Louis Vuitton: Innovation and Style World Luxury Market: Word turnover in luxury goods Growth Rate We can see that despite the World crisis the luxury sector is going well, especially thanks to the increase of rich people around the globe. [...]
[...] In 1978, it was the turn of his son, Jean Louis Dumas Hermès to bring its share in the empire, going even further than his father. He developed the existing activities and commited the company in other areas. Thus Hermès made its entry into the world of ready-to-wear and jewelery. In 2006, following the example of the family, he sold the company to his son The impact of competition on innovation strategy Facing this competition, Louis Vuitton highlights one of its strengths which is innovation. [...]
[...] It means that China (one of the biggest luxury market) will be for the future a really complicated and Louis Vuitton will have to handle the problem and find solutions. Moreover counterfeiting is also a major issue for luxury brand and especially for Louis Vuitton. Indeed those past years we saw fleurishing a lot of fake bags, way more cheaper which tried to imitate Louis Vuiton’s fabric. Louis Vuitton has always been imitated by its competitor because of it’s quality. [...]
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