Louis Vuitton
History
Louis Vuitton Malletier otherwise known as Louis Vuitton was founded in 1854 by French man Louis Vuitton in Paris, France. It has evolved overtime, grown beyond the continental borders and today maintains an international presence across the globe. It employs different methods of sale including standalone boutiques, online sales, and leases, among other methods. From 2006 to 2012, Louis Vuitton has ranked top as the world’s leading luxury brand. As at the 2012 valuation, it was worth twenty five point nine billion dollars. The lead in the luxury market makes it an admirable fashion house.
Current and future statuses based on the Competition
Louis Vuitton is celebrated for its products which appreciates modern fashion and current trends. A quick glimpse at their website reveals up to date and sophisticated fashion products designed for both men and women. The female products include icons, accessories, fine jewellery, shoes, handbags, leather goods, among others. On the other end, a display of male products include men’s bags and shoes, jackets and belts, travel commodities, and recent male fragrances.
Its easy to use website facilitates electronic commerce allowing clients to view products and place orders. It allows one to open an online account with the company for free and use it for any transaction and correspondence between the client and the company. The fact that the online resource is available 24/7 complete with a support base makes the company the best option. This e-commerce system of transaction places them top in terms of marketing techniques. They can easily access the international market merely through customer click of the button.
As it stands, Louis Vuitton is the leading firm in the luxury industry. However, the industry is wrought with competition particularly from Italian and French companies determined to grab the advantages and cash in from the prestigious and money laden fashion industry. The company has, however, employed the best strategies to ensure it continues dominating the sector. Its e-commerce module of transaction continues to advantage it and buoyed by the brand image it enjoys, it is expected to continue in the lead.
On the other hand, the company retains a progressive research and development system that enables it maintain its lead it production. They carry out feedback collection programs to obtain the desires of their potential and current client base and proceed to look for products that address the client interest.
Louis Vuitton is aware of substitute products. In the fashion industry, consumers pay anything for the best. They could easily move for a substitute product just to satisfy the desires. In knowledge of this factor, the company ensures it products best address the market needs.
Finally, the company is well in the know of changing economic system. Online marketing is one of the examples that shows it is in line with economic times. In that context, the company stands out as being competitive and strategic for any market occurrence.
In conclusion, therefore, it is safe to posit that the company stands strategic and advantageous and is expected to maintain the lead even in the future.
Works Cited
Louiss Vuitton. News. 27 February 2013. 19 March 2013.
