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LOUIS VUITTON
Presented by Stefan Swabboda , Moncef Ezzine, Daniel, Jade Dagorne,Iris van Kesteren, Paola Graziani
CONCLUSION
CONCLUSION
- 4PS Marketing system
-brand ambassadors
- segmentation and targetting
-adaptation
ABOUT LOUIS VUITTON
ABOUT THE BRAND
• Louis Vuitton (4 August 1821 – 27 February 1892) was a French fashion designer and businessman. He was the founder of the Louis Vuitton brand of leather goods now owned by LVMH.
• Founded in Paris in 1854
Maison Louis Vuitton has acquired the aspiration and vision of its authors. This unbelievable history worked around movement keeps on putting the House at the cutting edge of creation.
• Still today, Louis Vuitton's soul of experience is communicated through its special legacy, values and thorough soul of advancement and creativity, the strength of its manifestations and the interest for flawlessness in its plans.
• Leather goods, ready-to-wear, accessories, shoes, watches and jewelry are the goods sold in the louis vuitton boutiques
• All over the world, the House welcomes its clients into a world that reflects its founding values and that is sold exclusively in Louis Vuitton boutiques.
• Since November 5th, Nicolas Ghesquière has been the Creative Director of Women’s Collections. Virgil Abloh has been the Creative Director of Men’s Collections since March 26, 2018.
• Belongs to the LVMH group which possesses Moët Hennessy Louis Vuitton,Loro Pianna, Dior, Givenchy, Sephora
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SWOT
STRENGHT
STRENGTH
PERFUME LINE
- Introducing a new product will positively affect the product life cycle curve.
- Developing the portfolio with health benefits perfume will allow to fill the gap in the personal luxury industry
- Few luxury brands target young people.
LOUIS VUITTON
Association to quality
- Brand recognition
- Association to a class in society
- Top celebrity endorsements: Scarlett Johansson, Uma Thurman, Angelina Jolie
- Wide network: world’s top employers/ high end retail chains/sold in more than 50 countries across 460 outlets.
- Exclusive merchandise+ personalized options
WEAKNESSES
WEAKNESSES
PERFUME LINE
- How to reach both parents and children ?
- Parents might not be convinced of the efficiency of the health benefits and would rather turn to the pharmaceutical industry which is more specialized
LOUIS VUITTON
- Excessive centralization because focus on exclusivity
- Lack of sensitivity to foreign cultures: they do not take in considerations trend in foreign countries.
- Over-reliance on Japanese market: more than 85% of Japanese women own a LV product.
- High pricing: the company target a niche market.
OPPORTUNITIES
PERFUME LINE
- First perfume on the market with health benefits
- Rise in per capita income
OPPORTUNITIES
LOUIS VUITTON
-Growing market potential : luxury market estimated around 42 billion dollars with 4% growth/ year = opportunity
- Increase in the number of working women: need for status symbols is growing at the workplace as more women enter.
- Rise in per capita income = surge in demand for non essential items and luxury goods
THREATS
PERFUME LINE
- Pharmaceutical industry might be interested in introducing perfumes with health benefits at cheaper price
THREATS
LOUIS VUITTON
Counterfeiting
- Managing multinational customization : LV creates exclusive merchandise= they need to customize for individual cultures
PESTEL
Political
- No significant political affiliation
Economical
- Strong GDP growth in emerging markets
- Volatile currency movements
Social
- Shifting of consumer preferences
Technological
- Initiatives for luxury digital engagement for customers
- Merging of style and technology
Legal
- Strong compliance standards for suppliers
- PETA allegations over cosmetic testing
Environmental
- Low visibility in sustainability reporting
SEGMENTATION
SEGMENTATION
Exclusively for wealthy people
3 main customer groups:
- Absolute
- Aspirational
- Accessible
Wide range of products
Symbolises prestige and sense of high status
GEOGRAPHICAL SEGMENTATION
-Expending in countries with high density :
- China
- India
- Russia
-Countries didn‘t even know luxury
DEMOGRAPHIC SEGMENTATION
Louis Vuitton targets both genders, men and women, from 16 to 80 years of age obviously wealthy.
Business men and women with high income and disposable income.
PSYCHOLOGICAL SEGMENTATION
-Lifestyle and motives to further identify its target market
-In countries like China and Brasil – people need to show their social status and wealth
-The art of travelling
PSYCHOLOGICAL SEGMENTATION
RATE SEGMENTATION
-Segmented by usage
-Buyer information collected in database
-Seasonal catalogues
FUTURE MARKETING SEGMENT
Parts that remain the same:
-Psychological segmentation: status related motives,“The Art of Travelling”
-Rate segmentation：heavy users
MARKETING SEGMENTATION
Parts with changes：:
-Geographic segmentation
-Demographic segmentation
-Format segmentation
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BCG
ANALYSIS
BCG MATRIX ANALYSIS
-Fashion, Lathergoods, watches & jewelry are leaders in their respective markets, their turnovers keep on increasing
-Perfumes & Cosmestics turnover has increased but the market share is quite low. LVMH has to streghten his brand because great competitors
-Wine & Spirits turnover did'nt really progress but main source of revenue
- Selective retailing through media focused only on french market.
MARKETING STRATEGY
PRODUCT LIFE CYCLE
Louis Vuitton and the luxury goods industry is beginning to stagnate and has hit maturity on the product life cycle. Although the industry is still growing the competition has become fiercer than ever before.
MARKETING
Based on the Swot analysis, we have found that the first option for growth that louis Vuitton can exploit is diversify it’s product range/ portfolio such as going into perfumes where there are gaps in the personal luxury industry.
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Louis Vuitton needs to target young people in order to expand it's customer community
To target young people with a luxury brand it is important to reach out to the parents
==> How to catch the attention of both parents and children ?
A FRANGRANCE WITH HEALTH BENEFITS
* Putting some articles in magazines like Vogue, Man's health and Elle to advertise the product and explain the health benefits
* Putting some samples of the frangrance in these magazines
* Setting some stands to promote the product in shops like Sephora or Galleries Lafayette
* Engaging a couple of famous models to promote the product a man and woman
* Deal partnerships with youtubeurs and influencers on social media to sponsor the perfume
* Showing the perfume as star product in our LV shops with a strategic placement