The famous brand Louis Vuitton opened an online sales site in China to take advantage of the world’s largest luxury goods market.
Louis Vuitton first entered the Southeast Asian market in 1978 with the opening of the first store in Japan. In 2002, the Louis Vuitton building was opened at Ometesando, in Tokyo. This place is considered the largest and most avoided Louis Vuitton store in the world. Cherry blossom is the poetic inspiration of Louis Vuitton, and is the largest market of the company in Asia with a strong and widespread brand fever, with a total of about 62 stores across the country.
Louis Vuitton is one of the brands with anti-counterfeiting policies very early on, but at the same time, products named Louis Vuitton are also the most abused objects in the world. The new Louis Vuitton website will allow customers to buy the product from the brand’s skin, shoes, accessories, watches, jewelry and fragrances, the announcement released yesterday. Initially, the service was applied to 12 cities, including Beijing and Shanghai. Then it will be expanded.
The luxury goods market in China is recovering, after years of failures because of its anti-corruption campaign in the country. Hermes International, Kering and LVMH – the company that owns the Louis Vuitton brand, all announced good business growth. this year. Louis Vuitton started selling online in France in 2005 and has expanded to 11 countries.
China’s e-commerce is currently dominated by domestic firms such as Alibaba and JD.com. Louis Vuitton said customers can use payment applications such as Alibaba’s Alipay or Tencent’s WeChat transfer feature.
Chinese customers are very fond of luxury goods. They often line up outside Louis Vuitton stores around the world to buy this French brand product. However, online luxury sales here are slowing down, as brands want to keep monopolies.
Competition here is also getting tougher, when last month, JD.com bought $397 million worth of shares in online fashion retailer Farfetch (UK). Gucci also opened an e-commerce website in China this month.
LVMH is reforming its online business strategy. In May, they launched a multi-brand retail website called 24Sevres.com, to compete with brands like Yoox-Net-a-Porter and Farfetch.