Sorry Louis Vuitton, China’s No Longer Into You
A LOT. So imagine the yelp of excitement that sprang from our lips when we heard that Louis Vuitton had created an entire zoo out of their designer arm candy. The luxury label created the special zoo to celebrate the opening of their new flagship store in the central Chinese city of Wuhan. The pop-up zoofeatures 23 animals, all of which were created using handbags and other small leather goodsbearing the brands distinctive check and LV monogram. Our favourite has to be the giant panda, which took two months and a whopping 74 bags to create. We can only imagine how intoxicating the smell of all that butter-soft leather would be if you were to cuddle up to him.
Its firmly in the No. 2 spot. David Sadigh, Founder & CEO of Digital Luxury Group,said Louis Vuittons weak first quarter had a lot to do with China being over-sold the brand. Brands from different segments ranging from Chanel to Coach or Burberry are continuing to grow. The Chinese market is still developing. In order to stay ahead of the game, brands must have the ability to adapt (and) reduce the risk of brand saturation.
Vuitton Tones Down Bling in Russia as Wealthy Go Discreet
Louis Vuitton designs its own slowdown
Sales of luxury goods in Russia expanded 6 percent to $8.8 billion last year, versus 4.6 percent in 2011, helping reverse a 20 percent decline between 2007 and 2009, according to Euromonitor International Plc. While thats slower than Chinas 18 percent luxury growth in 2012, its far better than western Europe, where sales fell 1 percent last year as the debt crisis weighed on domestic spending, the researcher estimates. What were seeing now is a comeback in Russian demand for luxury goods, said Hermes International (RMS) SCA deputy chief executive officer Patrick Albaladejo. God-given Talent European brands such as Vuitton have already started toning down the bling as they contend with homegrown Russian labels such as Vika Gazinskaya, Alexander Terekhov and Uliana Sergeenko, who reckon they know better what shoppers want. Terekhovs latest collection features simple silk floral dresses, while Sergeenkos spring couture covered more flesh than it showed. Sales of Gazinskayas collections of 1,500-euro ($1,980) dresses have doubled in the past year as shoppers seek something different, said the 24-year-old designer. With 25 outlets, including in Paris, New York and Hong Kong, Gazinskaya says shes seeking investors to fund more expansion.