The Louis Vuitton belt brand and the LV monogram are among the most valuable brands in the world. According to a 2010 Millward Brown study, Louis Vuitton was then the 19th most valuable brand in the world and is estimated to be worth more than $ 19 billion. For six consecutive years, the Louis Vuitton belt is the number one of the top 10 brands published by the 2011 Millward Brown Optimum Brands study, worth $ 24.3 billion.
A Louis Vuitton belt “Sarah Wallet”
Louis Vuitton belt is one of the most counterfeited brands in the fashion world due to its image as a status symbol. Ironically, the Monogram Canvas signature was created to prevent counterfeiting. In 2004, Louis Vuitton belt counterfeits accounted for 18% of confiscated counterfeit accessories in the European Union.
The company is actively seeking to eliminate counterfeiting and is hiring a team of lawyers and special investigative agencies to prosecute in courts around the world. The company spends about half of its communications budget on counterfeiting its assets. LVMH, the parent company of Vuitton, describes “about sixty people at various levels of responsibility who work full-time in the field of counterfeiting in collaboration with a vast network of external investigators and a team of lawyers.” close distribution. of its products.
Until the 1980’s, Vuitton products were widely sold in department stores such as Neiman Marcus and Saks Fifth Avenue. Today, Vuitton products are available primarily in Louis Vuitton belt shops owned by the company, with a few exceptions in luxury shopping districts or luxury department stores. The Company’s department stores within the Department Stores are owned and operated independently of the Company’s officials and employees. LV has an official online store on its main website.
In 2006, the company filed a lawsuit against Colorado-based Manifest Information Services Ltd. (also known as Manifest Host Master and Manifest.com) through WIPO, forcing Manifest to transfer the LV.com domain name to Louis Vuitton. The lawsuit failed and the property was later acquired by Liverpool Victoria (LV=), England’s largest sister insurance company.
Louis Vuitton products:
Louis Vuitton belts have been handmade since the 19th century. Contemporary Fashion offers a brief overview of the creation of LV luggage racks:
Craftsmen align leather and fabric, tapping small studs one by one and securing solid, sturdy brass locks with an individual handmade key designed so that the traveler has one key for all luggage. The wooden frames of each log are made from 30-year-old poplar that has been allowed to dry out for a minimum of four years. Each trunk has a serial number and can last up to 60 hours, and a suitcase can last up to 15 hours.
Despite being over 150 years old, the brand is now focusing on finding ways to attract a younger and richer audience.
He turned to influences such as Sophie Turner, Chloë Grace Moretz and Kris Wu. And while the actors appear in traditional Louis Vuitton commercials, they also post photos of themselves wearing the designer on their Instagram or WeChat accounts.
Kris Wu was facing another strategic move – his streetwear collection. Streetwear culture – popularized by designers such as Virgil Abloh and Kanye West – entered the luxury industry and attracted young people from all over the world.
Louis Vuitton wanted to capitalize on this and in 2018 announced perhaps the most influential street clothing designer, Virgil Abloh, as creative director for men’s clothing.
The company has borrowed a distribution strategy and pricing from the streetwear culture, the drop model, which means that it launches a limited number of items in a short period of time.
For example, this pop-up space in London launched Abloh’s first collection as artistic director. The collection was only available for one week. Because there were so few items and limited delivery time, consumers flocked to the store, where the sweatshirts were selling for up to $ 2,395.
These strategies and, of course, the high prices have helped Louis Vuitton to retain its title of the most valuable luxury brand in the world. But as younger consumers start making more luxury purchases, they will have to keep evolving to stay in the top.
Why is Louis Vuitton so expensive?
Louis Vuitton’s beginnings date back to 1837. France was in the midst of an economic expansion, and this growth attracted hundreds of thousands of people to the city of Paris.
A 16-year-old Louis Vuitton was one of them. He traveled 472 kilometers (from Anchay to Paris) on foot to the French capital to work as an apprentice tailor.
At the same time, steam trains and ships made travel more accessible and industry was booming.
Vuitton took advantage of this when it opened its first store (1854). In 1858, he began his new trunk design. It was rectangular, unlike its vaulted predecessors, so it was easy to stack. The cotton fabric was lightweight, durable, and waterproof, ideal for travel.
Many call this design the birth of the modern suitcase.
In 1896, his son Georges Vuitton created the iconic Louis Vuitton monogram, a floral pattern with an interconnected L and V, in honor of his late father, who died in 1892.
From French royalty in the 1800s to celebrities in modern times, Louis Vuitton ownership has a long history of being seen as a status symbol. Now you can find the famous monogram on anything: bags, clothes, shoes, jewelry, and even a toilet. The brand is worth $47 billion.