Lv in Japan
Louis Vuitton Malletier, was an international, well-established brand mostly famous for its craftwork leather bags and trunks. The firm was established in France in 1854 by Louis Vuitton and became known as one of the most oldest French luxury fashion houses. In 1987, Moet Hennessey and Louis Vuitton created worlds largest and most prestigious luxury conglomerate—LVMH, which had been a major player in LV’s success. Their mission is “LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy.”
Based on data published in Luxury Import Brand Marker in Japan 2008 (Yano Research Institute Ltd. 2008), Louis Vuitton held the top spot for net sales of single brands for FY2007 with sales of around 165.0 billion yen-approximately 2.7 times that of third-place Hermes, about 3.1 times fourth-place Tiffany and around 2.5 times Coach, which had rapidly advanced to second.
CUSTOMER BEHAVIOR IN JAPAN
Japan had been known for a group-oriented culture in which there was a real pressure to possess luxury status-driven brands. The way the Japanese consuming cosmetics and luxury brands seemed more like a compulsory form of social expression, which is different from the Western one. According to Davide Sesia, “Japanese women have a psychological need to own something considered to be beautiful” whereas luxury item are not very well perceives among Western societies. Moreover, Japanese were supposed to dress in a way that corresponded to their social position so the luxury items can make them looks important.
Yet, times changed the Japanese customer behavior. They became less inclined to tolerate high price that created desirability and young Japanese women are aware of the value of money, leading increase sale of lower-prices and small leather items. Since 2000, with the attitude