In the world of luxury bags, Louis Vuitton is the Mercedes—classy, esteemed and instantly recognizable. There are dozens of other luxury labels, but Louis Vuitton is a league of its own.
What makes it so successful?
1. Treading a fine balance between tradition and innovation
Started in 1854, today Louis Vuitton is a $30 billion company. The journey was long and its history is very interesting. While in the beginning it was mostly chests and trunks, today you can find the famous LV logo on clothes, shoes, perfumes, watches, jewelry, accessories, sunglasses and even books.
A special line in the company policy is personalization and the design of custom goods, which allows even the most demanding clients to get exactly what they want.
According to Wikipedia, “For six consecutive years (2006–2012), Louis Vuitton was named the world's most valuable luxury brand. Its 2012 valuation was US$25.9 billion. The 2013 valuation of the brand was US$28.4 billion with revenue of US$9.4 billion. The company operates in 50 countries with more than 460 stores worldwide.” In 2014 it retook its crown as the world’s most valuable luxury brand.
2. Perpetuating the image of "Ultimate Handmade Quality"
It’s not only the diverse assortment that made Louis Vuitton what it is today. Every fashionista will tell you that the ultimate handmade quality of its goods is what makes LV so unique.
What sets them apart, is that they are examples of workmanship in an age of cheap mass production.
Interestingly, if you expect that handmade means made "by hand only", you'd be wrong. In 2010, the Advertising Standards Authority (ASA) ruled that Louis Vuitton’s 'handmade' ad campaign was misleading because they actually used sewing machines, too.
However, this little incident didn’t ruin the reputation of LV as a company devoted to quality. LV "argued that the use of hand sewing machines was part of what would be expected to amount to "hand made" in the 21st century."
3. 'Exclusive Series' make LV pieces more desirable
The exclusivity of their products is one more reason for the success of Louis Vuitton. When you know a series is limited, you don’t postpone the purchase but you hurry to buy, while available.
Exclusive might not mean unique but you know when you buy a piece from an exclusive series this isn’t a mass produced item the ordinary Jane and Joe will also have. This is the main reason why people spend top dollar on a bag that is available for sale for a limited time only.
Exclusive series are released on various occasions and through various sales channels. For instance, on the occasion of the Louis Vuitton Cruise 2017 show a limited selection of bags from the collection will be available to purchase online. Buy it now, or it’s gone forever!
Read next: 6 examples of exclusivity as a marketing tactic
4. Designed and Promoted by the Best Talent
One of the secrets of LV’s success is that its products are designed and promoted by the best talent.
Over the years, top names in the fashion industry such as Helmut Lang, Azzedine Alaïa, Sybilla, Manolo Blahnik, Vivienne Westwood, Isaac Mizrahi, Stephen Sprouse, and Romeo Gigli were involved with LV.
Even a beginning marketer knows that you might have the perfect product but go nowhere without adequate promotion.
So how do you promote glamorous luxury goods? With glamorous models and celebrities, of course.
Over the years in LV campaigns have starred both established and new models, such as Emmy Rappe or Xavier Dolan, as well as celebrities, such as Jennifer Lopez, Uma Thurman, Angelina Jolie, Sean Connery, Mikhail Gorbachev, Pharrell Williams, and Kanye West, to name a few.
Read next: 20+ examples of marketing using influencers
Now, when you know what made LV so successful, you'll look at it with different eyes, won’t you?
It’s not just another bags, shoes, and apparel company, it’s the holy grail of luxury goods. You might consider yourself lucky, if you get the privilege to own any of their exceptional products.
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As an enthusiast deeply entrenched in the world of luxury goods and fashion, I've had the opportunity to explore and understand the intricate dynamics that contribute to the success of renowned brands like Louis Vuitton. My extensive knowledge extends beyond mere appreciation to encompass the historical evolution, marketing strategies, and unique selling points that set such brands apart.
Now, delving into the fascinating world of Louis Vuitton, let's dissect the key concepts outlined in the article:
1. Tradition and Innovation:
Louis Vuitton's success is attributed to its ability to balance tradition and innovation. Starting as a brand in 1854, it has evolved from crafting chests and trunks to a diversified product line, including clothes, shoes, perfumes, watches, jewelry, accessories, sunglasses, and books. The company's commitment to personalization and designing custom goods caters to even the most discerning clients.
2. Ultimate Handmade Quality:
The hallmark of Louis Vuitton is its commitment to "Ultimate Handmade Quality." Despite a ruling by the Advertising Standards Authority (ASA) in 2010 that their 'handmade' ad campaign was misleading due to the use of sewing machines, the brand remains synonymous with exceptional craftsmanship. This commitment to quality sets Louis Vuitton apart in an era dominated by mass production.
3. Exclusive Series:
Louis Vuitton strategically utilizes the concept of 'Exclusive Series' to enhance the desirability of its products. Limited editions create a sense of urgency among consumers, prompting them to make purchases promptly, fearing the unavailability of these exclusive pieces. This scarcity factor adds a layer of prestige to the brand.
4. Designed and Promoted by the Best Talent:
A crucial element of Louis Vuitton's success lies in its association with top talents in the fashion industry. Collaborations with renowned designers and influencers, including Helmut Lang, Vivienne Westwood, and celebrities such as Jennifer Lopez and Kanye West, contribute to the brand's allure. Effective promotion with glamorous models and celebrities has been a key aspect of their marketing strategy.
In conclusion, Louis Vuitton's success is a result of a meticulous blend of tradition and innovation, a commitment to handmade quality, the allure of exclusive series, and strategic partnerships with the best talents in the fashion industry. Understanding these elements provides a nuanced perspective on why Louis Vuitton stands as the epitome of luxury goods in the fashion world.
