Louis Vuitton’s “slow” road back to prestige
Believe it or not, designer label Louis Vuitton destroys their unsold bags in order to keep their prices high, according to this collection of unusual trivia. Did you know that the offspring of two pairs of identical twins are genetic siblings? Or that cats’ kidneys are so efficient they can survive drinking seawater? Check out the gallery below for other unusual internet trivia. Click on thumbnails for larger image
Louis Vuitton bags to get even MORE expensive as luxury fashion giant raises prices by up to 12per cent
While it is still the worlds number one luxury brand, it has given up luster to rivals like Prada and Gucci. Luster is everything in the allure of the luxury world, so LVMH Moet Hennessy Louis Vuitton (the full name-dropping moniker of the company) is doing what it can to polish up. Its latest move: Its spending $2.56 billion to acquire 80 percent of Loro Louis Vuitton Purses Piana, an exclusive Italian textile firm and clothier that hails from near Lake Como, a place where George Clooney hangs out. Loro Piana represents the opposite of the fast fashion trend epitomized by the likes of Zara and H&M. As BloombergBusinessweek noted , you could call it slow fashion. It deals in materials like vicuna wool, which comes from a South American llama cousin that yields the fine fibers only every two or three years – hardly the in-today out-tomorrow vision of a Zara shop.
Antoine Belge, an analyst at HSBC , revealed the cost increase applies to non-leather goods such as the popular canvas versions of the Speedy handbag and Neverfull tote. LVMH, the luxury brand’s parent company, introduced the price hike across its main markets at the beginning of the year in an attempt to keep on top of sliding currencies. Pricey accessories: Louis Vuitton has raised the prices on many of its best-selling items by up to 12per cent – pictured is the Speedy handbag (left) and Neverfull tote (right) According to analysts’ estimates canvas items make up about two-thirds of Louis Vuitton’s total accessories sales. Price increases of around ten per cent were spotted in the euro zone, and of ten per cent or more in the UK and in the U.S. over recent months. It also noted hikes of five to ten per cent on the same goods in several Asian markets including China, Hong Kong, Taiwan and Singapore. Where ARE your clothes made, Juicy Couture?
Vuitton tones down for Russian tastes
Animal print bras, gaudy frocks and logoed luggage were de rigueur in 1990s as the wealthy few sought to relive pre-1917 revolution excesses, according to Alla Verber, fashion director at Tsum department store in Moscow. GANGSTERS GIRLS Then, a typical new Russian was a gangster-type man in a garish jacket accompanied by heavily made-up girls, she said. Now tastes have changed. Kering SAs Gucci was the biggest luxury brand in Russia in 2011 with sales of 6.74 billion rubles ($208.6 million), ahead of LVMH Moet Hennessy Louis Vuitton SAs Donna Karan and Vuitton, estimates Euromonitor. Hermes and Prada rounded out the top five, according to the researcher. Kering was up 1.5 per cent as of 9:38 a.m. in Paris trading, in line with the Bloomberg European Fashion Index. LVMH rose 2.2 per cent, while Hermes increased 2 per cent. The shift to less conspicuous consumption is a familiar cycle, says Claudia DArpizio, a partner at consultant Bain & Co.