In the fiscal year 2022, the French luxury brand Louis Vuitton surpassed a sales milestone of 20 billion euros, securing its position as the world’s largest luxury brand by sales volume.
While focusing on scaling up, it is crucial to ensure the brand’s appeal as a top-tier luxury name. Executives from the parent company LVMH Group emphasized in the 2023 mid-year earnings call that Louis Vuitton’s brand strategy remains unchanged, with the next phase’s three priority development items being “desirability, desirability, and desirability.”
Lately, whether by appointing pop music megastars as creative directors or frequently collaborating with street culture/art IPs, Louis Vuitton is evolving into a “global cultural brand.” In the first quarter, LVMH Group disclosed that Louis Vuitton’s primary task is to integrate product, distribution, and marketing.
On the occasion of its 170th anniversary, Luxe.CO‘s fashion industry research institution, Luxe.CO Intelligence, launched a new annual report series on luxury brands, starting with “Louis Vuitton in 2023.”
The report aims to help everyone understand how this global leading luxury brand has integrated artistic and cultural creativity into fashion design, sales, and communication in the past year, maintaining its strong appeal across global age groups through constant innovation.
Based on comprehensive, real-time brand public dynamic data covered by Tong.Luxe.CO, the report includes 287 brand activities related to Louis Vuitton from January 1 to December 31, 2023, involving retail stores, product innovation, brand communication (including brand exhibitions, fashion shows, collaborations, pop-ups, cultural arts, sustainability, spokespersons, advertisements, etc.), supply chain, and talent discovery.
Click here to download the full text of “Louis Vuitton in 2023″（ in Chinese）
In 2023, Luxe.CO Intelligence tracked a total of 31 global store dynamics for Louis Vuitton:
- 16 new stores globally: 8 in China and 8 overseas. In China, new boutiques focused on all categories: including 2 VIC boutiques, 1 two-story boutique for all categories, and 5 men’s boutiques (all existing women’s stores, prepared for upgrading to all-category boutiques for men and women);
- 12 stores globally were renovated and upgraded: 6 in China, located in Hangzhou, Shenzhen, Wuhan, Xiamen, Tianjin; and 6 overseas, including stores in Vienna, Austria, Jakarta, Indonesia, Seoul, South Korea.
Pietro Beccari, who took office as CEO in February this year, revealed that his strategy for leading Louis Vuitton’s development is clear, namely, to amplify the brand’s voice in major global cities. In the latest annual financial report for 2023, LVMH Group’s Chief Financial Officer Jean-Jacques Guiony revealed that Louis Vuitton is considering opening larger stores in China.
Additionally, 3 new stores are in preparation globally, including the renovation of 103 Champs-Elysées in Paris. In July this year, the brand stated that the building at 103 Champs-Elysées “will ultimately become a new showroom for Louis Vuitton on the Champs-Elysées.”
In June 2023, the new men’s creative director Pharrell Williams brought his first show in Paris’s Pont Neuf. Pietro Beccari has high hopes for the men’s wear business and expressed full confidence in Pharrell Williams’ creativity, stating, “Through Pharrell, we may reach those who have never heard of Louis Vuitton or thought Louis Vuitton couldn’t offer them anything.”
Beyond fashion products, Louis Vuitton continued to expand into home decor (launching its first porcelain collection) and jewelry (with six new releases) in 2023. In January 2024, Louis Vuitton also launched its first men’s high jewelry collection.
Globally, Luxe.CO Intelligence tracked 7 regular seasonal fashion shows for Louis Vuitton, including the first offline show for the Early Autumn Men’s Collection 2024, which was also Pharrell Williams’ second series since taking office; 65 regular advertising updates, and 12 spokesperson events.
Moreover, Louis Vuitton continues to focus on its positioning as a cultural and creative brand, permeating contemporary cultural life through diverse cultural and artistic activities, participation in sports sponsorships, and expanding dining experiences:
- 43 pop-up updates: including temporary bookstores, newsstands, etc.
- 10 brand exhibitions: including major and thematic exhibitions
- 13 major crossover collaboration events: including a large-scale promotion with Japanese artist Yayoi Kusama in January
- 13 cultural and artistic updates: sponsoring films, publishing books, organizing art exhibitions, etc.
Click here to download the full text of “Louis Vuitton in 2023″（ in Chinese）
The contents of “Louis Vuitton in 2023” is as follows:
About Luxe.CO Intelligence
Luxe.CO Intelligence has been deeply involved in the fashion and luxury sectors for a long time. Leveraging our continuously expanding industry network, data intelligence, and knowledge system, we are committed to providing professional, innovative, and forward-looking consulting services to brands and companies in China and overseas. Our areas of focus include brand revitalization and upgrade strategies, brand content and communication strategies, niche industry positioning and opportunity analysis, and strategies for entering the Chinese market.
View all reports published by Luxe.CO Intelligence: https://luxe.co/page/hlzk
In the past six months, other brand research reports released by Luxe.CO Intelligence include:
“Moncler in 2023”
“Gucci in 2023”
“Prada in 2023”
“Chanel in 2023”
“Hermès in 2023”
“On in China”
“Maglia in China”
“lululemon in China”
“CELINE in China”
…
We release multiple original research reports from Luxe.CO Intelligence each month and occasionally hosts industry lectures and forums. For any collaboration inquiries, please feel free to contact us.
Email: lci@luxe.co
About Tong.Luxe.CO
Launched on Luxe.CO website and app in early summer 2022, Tong.Luxe.CO is an innovative digital service that tracks daily activities of fashion brands with all-encompassing coverage for China market and selective coverage for overseas market.
The activities covered include product launch, store opening, marketing events, as well as personnel change, financial reporting and other major corporate initiatives.
Through Tong.Luxe.CO, you could find over 2000 entries on average each month about more than 1000 brands in luxury, fashion, beauty, sports and outdoor …, all tagged carefully to facilitate multi-dimensional analysis for further research.
