Top luxury brand Louis Vuitton (LVMH) recently announced that the turnover of its products in Chinese market has had a linear upward trend, which symbolized that it' s no longer a dream for Louis Vuitton to have a market share in China where the competition of luxury goods market is increasingly fierce.
Louis Vuitton opened another chain store in the centre of Beijing city in 18th November; this has been the twelfth store since Louis Vuitton opened the first franchised store in Beijing of mainland china in 1992.
Only within the last year Louis Vuitton had successively opened four Louis Vuitton stores in mainland China. What' s more, with the rising of a new group of people of high consumption who have an increasingly higher demand of fashion brands like designer handbags, jewelries and so on in mainland China, Louis Vuitton company plans to open two to three stores in this place each year.
Arnold expressed that we adopt the same measure when first dealing with the demands of Japanese market. Japanese people in both home and aboard are always the biggest consumption group of Louis Vuitton. While the demand of consumers in mainland china for Louis Vuitton designer bags are ranked the third place, especially shopping aboard.
However, this case is making changes stealthily. During one year of time Louis Vuitton opens its chain store in shanghai, its sales performance has ranked the first among LV' s global stores. Hang Zhou also gradually gains focus of attention form more and more international top luxury brands with Louis Vuitton included.
Louis Vuitton chairman of the board Arnold said as far as Louis Vuitton' s sales level in mainland china is concerned, it' s pretty limited recently. Therefore, currently in Asia Hong Kong of China is still one of the most vital markets of Louis Vuitton. Since products sold in Hong Kong does not set up consummation taxes and tariff, the price gains bigger advantage compared to that of mainland China. However, he still believes that China will be the biggest market of its luxury goods in the next twenty 20 years. It' s said that Louis Vuitton will open its next store in Chong Qin.
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