LOUIS VUITTON: A CASE STUDY

STRATEGY FOR A POSSIBLE BRAND EXTENSION

Fashion Branding Summative Assessment

MA Fashion Design Management

Ilaria Quintè 14439514

word count: 3101

1
CONTENT PAGE

1. INTRODUCTION.........................................................................................4

2. BACKGROUND..........................................................................................5

3. POSITIONING STRATEGY........................................................................8

3.1 Value Proposition....................................................................................8

3.2 Unique Selling Point................................................................................8

3.3 Porter Five Forces Analysis.......................................................................9

3.4 Competitors............................................................................................12

3.5 Points of Difference and Points of Parity..............................................14

3.6 Positioning Map......................................................................................16

3.7 SWOT Analysis.......................................................................................17

3.8 Customer Segmentation..........................................................................18

4. BRANDING STRATEGY............................................................................19

4.1 Brand Equity model...............................................................................19

4.2 Critique of the brand equity model............................................................24

4.3 Brand Image versus Brand Identity alignment..........................................24

4.4 Discussion about brand extension............................................................25

5. RECOMMENDATIONS - BRAND EXTENSION.........................................26

5.1 Extension in the cosmetics market.......................................................26

5.1.2 Cosmetics Market................................................................................27

5.2 Brand extension proposal......................................................................28

5.2.1 Consumer needs...................................................................................28

5.2.2 Brand concept and resources................................................................29

5.2.3 Target market.......................................................................................31

5.2.4 Competitive advantage.......................................................................32

5.2.5 Competitors........................................................................................32
5.2.6 Benefits............................................................................................32

5.2.7 Risks.................................................................................................33

5.3 Conclusion..........................................................................................33

Appendix.........................34

References.....................35
1. INTRODUCTION

The impact of globalization and the changes in consumers' attitudes and purchase behavior

towards luxury products is changing the luxury industry and require brands to constantly

innovate their strategies (Turner, 2016). Today the market of luxury goods is highly

competitive and brands who are seen available everywhere often lose their luxury value and

therefore their authenticity as being 'true luxury' becomes diluted (Danziger, 2018). In the

past decades Louis Vuitton faced challenges around in the Asian market as consumers

preferred to buy from brands with less over ubiquitous logos and with fresher designs

(Business of Fashion, 2013). This was also due to the fact that the brand's logo was subject

to lot of counterfeit (Danziger, 2018). This resulted in creating problem with its image as the

brand was now being associated with 'accessible luxury' rather than 'exclusive' even though

its prices are the opposite as being accessible (Ferdman, 2013).

However, Louis Vuitton managed to overcome the issue and changed the brand

associations and went for subtler designs by reducing the visibility of its logo both in

products and marketing campaigns, alongside working with designers and artists

collaborations and promoting its travel heritage (Ferdman, 2013; Kornienko, 2017).

Therefore, this report will aim to identify the positioning of Louis Vuitton in order to

understand how the brand differentiates from competitors and its branding strategy to further

evaluate brand image and brand identity. In the last section of this report a brand extension

will be proposed by evaluating the current needs of consumers and the suitability of the

extension according to its brand values.

2. BACKGROUND

Louis Vuitton is a luxury fashion house that was founded in 1854 by a French craftsman and

trunk maker of the same name (Business of Fashion, n.d).

At the time the company was founded, travelers were using horse drawn carriages, boats

and trains as means of transportation, meaning baggage was often treated with poor care

and travelers were referring to craftsmen in order to protect and pack their items (Louis

Vuitton, n.d). The company quickly became a success as since the beginning it has been

able to differentiate itself and meet the specific requirements of consumers' needs by

adapting its designs and materials to create distinctive products always inspired around the

theme of travel (Holborow, 2012; LMVH, n.d). In fact, through the years it has been able to

extend its product categories behind trunks and include a wide range of products (Forbes,

2019) (See Figure 1 and 2).

Figure 1 : Louis Vuitton's Product Range

PRODUCT RANGE - WOMEN AND MEN

Handbags Fragrances

Wallets Jewelry

Key and card holders Trunks

Phone Cases Travel accessories

Shoes Tech accessories

Furniture Games and collectors’ items

Books and writing Home decor

Sunglasses
Source: Ilaria Quintè

Figure 2: Louis Vuitton's product portfolio

Source: Ilaria Quintè

Since 1987 the brand is also part of the Fashion and Leather Goods sector of French

multinational luxury goods conglomerate LVMH group, which owns 70 different brands in six

different sectors (LVMH, n.d). LVMH group strives to be a symbol of product and service

excellence, founded on values such as innovation, creativity and entrepreneurship which are

shared among all its brand portfolio (LVMH, 2018).

The Fashion and Leather Goods sector of LVMH includes 17 different brands (See Figure 3)

and made a total of 22, 237 millions of EUR in 2019 (LVMH, n.d). In 2019 the sector has

achieved organic revenue growth of 17% with recurring profit operations of 24% also thanks

to the extraordinary performance of Louis Vuitton (LVMH, 2020).

Figure 3: LMVH Leather and Goods brands portfolio

Source: LVMH (2020)

Today Louis Vuitton has 19,000 employees over 65 countries around the world and is the

only brand who maintains its exclusivity by selling its products only in stores and never hold

sales or outlets (Business of Fashion, 2019).

After overcoming the fake associations with its brand image, overall the brand has seen a

rapid increase in all its creative areas, especially in the Menswear collections where the new

artistic director Virgil Abloh has invested in developing new technologies and introduce new

designs (LVHM, 2018).

Moreover, Louis Vuitton has been constantly innovating in the past 20 years by maintaining

its core values of savoir faire, innovation, respect for craftmanship and commitment for

sustainable and ethical practices. In fact, in 2018 it was awarded The Butterfly Mark
sponsored by Positive Luxury for the excellence of innovation and commitment to social and

environmental responsibility, governance and community investment (Positive Luxury.com).

According to Interbrand (2019) based on its financial performance and its ability to influence

consumer choice by maintaining premium prices, Louis Vuitton is the world's most valuable

fashion brand, with a USD $32.22m brand valuation (Alexander, 2017). In its report,

Interbrand stated that this position highlights the end of a traditional brand positioning, but it

reflects the accelerated change of the competitive landscapes due to the attitudes and

purchasing behavior of consumers (Interbrand, 2019).

3. BRAND POSITIONING STRATEGY

3.1 VALUE PROPOSITION

Louis Vuitton offers a "more and more" value proposition which provides high quality and

exclusivity to customers. It aims to create highest brand value and pricing by highlighting all

elements of craftmanship and heritage emboding high standard of living (Kotler, 2016;

Marwah, 2019).

Source: adapted from Kotler (2016)

3.2 UNIQUE SELLING POINT

By following a differentiation strategy achieved through premium price, high mark ups and

limited availability (Porter, 1985) the brand is able to meet specific consumer' needs by

providing high quality luxury products with a combination of craftmanship, savoire-faire and

continuous technology innovations (Louis Vuitton, 2019). Louis Vuitton is able to differentiate

itself from competitors by providing the best ratio between perceived exclusivity obtained

through its retail distribution strategy and its entry price , where its products are not only

functional but a representation of consumers' desires and dreams communicated through a

spirit of freedom and adventure (Mira, 2016; Mintzberg et al., 2003).

3.3 PORTER'S FIVE FORCES ANALYSIS

Competition in an industry is not only based in fighting for market share. According to Porter

(1979) the state of competition in an industry depends on five forces, which ultimately

determine the profitability of an industry. These forces are diagrammed in Figure n.4a and

4b.
Figure 4a: Porter's Five Forces diagram
Figure 4b: Porter's Five Forces Analysis

THREAT OF NEW ENTRANTS - LOW

 The market of Luxury and leather goods is saturated and rapidly growing
(Euromonitor, 2020)
 High initial capital investments required in order to enter the market
 Most important players in the market are well known and established luxury
giants such as LMVH, Kering and Hermes (Statista, 2019)
 New entrants are mainly new independent designers which offer products more
affordable than Louis Vuitton but are not a big threat due to the consumers' high brand
loyalty towards the brand (Mulholland, 2019)

THREAT OF SUBSTITUTES - HIGH

 Many other luxury competitor brands such as Hermès, Burberry and Kering in the
market offer the same products with a similar quality and performance of Louis
Vuitton (Statista, 2019)
 Indirect competitors such as Michael Kors offer better value for the price,
therefore there are low switching costs for consumers (Statista, 2019)
 Counterfeit products pose a threat of substitutes as even if fake, consumers can
easily buy the same products for a cheaper price (Danziger, 2018)
 If consumers are well-knowledge and loyal towards the brand, threat of substitutes
can be considered as low.

BARGAINING POWER OF SUPPLIERS - LOW

 The majority of suppliers have only few clients and are mostly exclusive
(Gauberti, 2014)
 There is a high number of manufacturers in Asia or India which is able to produce for
lower costs, therefore switching costs for buyers are low and also supplier power is
low (Hope, 2017)
 Louis Vuitton has high control over quality as it owns many factories in Europe and
North America (Williams, 2019)
 Louis Vuitton has acquired Les Tanneries Roux, a leather supplier, which makes
bargaining power of supplier relatively low (Business Wire, 2011)

BARGAINING POWER OF BUYERS - LOW

 There are several luxury brands from where consumers can purchase from with a low
switching cost, therefore buyer power is medium (Statista, 2019)
 Products within the industry are heavily differentiated
 Consumers are not able to backward integrate effectively

INDUSTRY RIVALRY - HIGH

 There are lot of competitors within the market such as Hermès, Burberry and
Kering Group (Statista, 2019)
 The industry is rapidly growing and is expected to grow more in the next few
years (D'Arpizio et al., 2019)
 There is high level of competition in the industry but also high margins.
However, competition in the industry is not on price but mainly on quality and
image.
3.4 COMPETITORS

Louis Vuitton's main competitors are Gucci, Hermès, Burberry and Chanel (Mintel, 2019).

They are all direct competitors as they compete in the same market based their strategy on

providing luxury apparel and accessory products to high end customers based on values of

innovation and craftmanship.

Figure 5 : Competitors Analysis Matrix

ESTABLISHED 1854 1837 1856 1921

VALUE Superior quality, Elegance, British heritage, Eclectic,

PROPOSITION exclusivity and timelessness and distinctive luxury romantic,
strong heritage tradition (Burberry, 2020) contemporary
(Gucci, 2020)
UNIQUENESS LV brown Duc carriage with Equestrian Knight GG logo, red
monogram horse, Iconic logo, trademark and green
OF IDENTITY orange box. check stripes

PRODUCT Products offering Products offering Products offering Products

for Men & Women. for Men & for Men & Women. offering for Men
OFFERING Ready to wear, Women. Ready to Ready to wear, & Women.
handbags, wear, handbags, handbags, Ready to wear,
fragrances, fragrances, footwear, handbags,
footwear, accessories, accessories, footwear,
accessories, tech footwear, books fragrances, make accessories,
accessories, and writing, make up. Children's fragrances,
trunks, home up, home ready to wear, make up, home
decor, books and furniture, handbags, decor, Children's
writing. equestrian footwear and ready to wear,
equipment accessories accessories and
footwear.
DISTRIBUTION 460 stores 310 stores 475 stores 520 retail stores
worldwide worldwide worldwide with a worldwide
between North between North & network of owned between North &
and Latin Latin America, and franchised Latin America,
America, Europe, Europe, Asia, stores (Statista, Europe, Middle
Middle East, North Middle East and 2019). Sell through East, Russia,
and South Africa, Oceania. wholesale, Asia & Oceania
Oceania (Louis Watches, licensing partners, (Gucci, 2020;
Vuitton, 2020). perfumes and outlets and e- Statista 2020).
Sells through tableware are commerce. Sells through
limited distribution sold also through (Burberry, 2020) wholesale,
channels, doesn't third party sellers licensing
sell through and airports. E- partners, outlets
wholesales or commerce and e-
outlets but only available. commerce.
stores and e-
commerce (Hermès, 2020)
3.5 POINTS OF DIFFERENCE AND POINTS OF PARITY

According to Keller (2012, p.85-86) once the nature of competition and the target
market have been defined, an analysis of the points of parity and points of difference
can be useful to guide brand positioning.

Figure 6a: Points of Difference

PRODUCT

 Products have high levels of distinguished quality and blend modernity and
tradition (LMVH, no date; LMVH, 2015)
 Meticulous attention to details with specific production facilities for
small components such as luggage handles (White & Denis, 2018)
 They are designed to be sustainable and repaired. Digital models and 3D
printing make prototype easy and without waste (Louis Vuitton, n.d)

PRICE

 Prices are never marked down (Louis Vuitton, n.d)

 Luxury brand with expensive price strategy allowing high mark
ups (Danziger,2018)

PLACEMENT

 The brand maintains its exclusivity by selling only in stores and through its
official website (Louis Vuitton, n.d)
 Stores are only in landmark locations (Mcalpine, 2019)
 Majority of stores replicate art galleries with art installations,
sculptures (Mcalpine,2019)

PROMOTION

 Press is the most preferred and used media channel and allows to maintain
exclusivity. Pop up temporary events hosting have also been introduced to display
innovations worldwide (Mintel, 2019; Mintel 2019)
 Partnerships with sports associations such as NBA, PC games such as League
Legends (LMVH, 2020)
 Louis Vuitton's foundation offers temporary arts exhibitions, concerts and film
projections. They also include family’s activities and workshops for architecture
and arts (Foundation Louis Vuitton, n.d)
According to Keller (2012) points of parity associations can be unique to the brand or shared

among different brands. There are divided in three types which are analyzed in Figure n.6b.

Figure 6b: Points of Parity

CATEGORY POINTS OF PARITY

 Contemporary and multifunctional luxury handbags and products adapted around

the theme of travel (LMVH, n.d)

COMPETITIVE POINTS OF PARITY

 Responsible sourcing: Preservation of raw materials and carefully monitored

supply chains to ensure suppliers meet environmental standards (Louis Vuitton, n.d)
 Materials: LMVH Eco Material Library is one of the biggest resources that educate
design teams to use eco-friendly materials (Louis Vuitton, n.d)
 Packaging: Gift boxes are made from mixed FSC-certified virgin and recycled
fibers, fragrances can be refilled in selected stores
 Circular creativity: the brand has incorporated a reuse-processing process and
donate to associations such as La Réserve des Arts association and MFTA in New
York materials such as leather, wood, gold and textiles (Louis Vuitton, n.d)
 Expansion: opening new stores in Canada and introduction of a restaurant
inside Louis Vuitton's store in Osaka (Davis, 2020). LMVH is planning to open a
Louis Vuitton's cafè in London (Street, 2019)
 Challenging luxury: partnership with Italic, a platform where designer products are
sold without a label and for a lower price. Consumers can purchase two items
every month (Mintel, 2019).
 Digital strategy:

CORRELATIONAL POINTS OF PARITY

 It is the most valuable luxury brand in the world but according to Mintel (2019)
consumers still not perceive it as a fashion leader (Alexander, 2017)
 Due to counterfeit issues, the brand is available and seen everywhere which
decreases customers' perception of exclusivity and accessibility (Danzinger,
2018)
3.6 POSITIONING MAP

The positioning map is based on price and exclusivity as shown in figure 3c. Louis Vuitton

position itself among competitors as exclusive and prestigious (Mintel, 2019).

Figure 7: Positioning map

Source: Ilaria Quintè

3.7 SWOT ANALYSIS

SWOT analysis is conducted below (See Figure n.8) to match the internal strengths of the

company to attractive opportunities in the market, while overcoming weaknesses and

minimizing threats (Kotler, 2012).

Figure 8: SWOT Analysis

STRENGHTS WEAKNESS

 Strong brand heritage (Louis Vuitton,  Saturated market (Euromonitor, 2020)

2010)  Competitors have a strong positioning
 Product innovation and continuous in the market (Mintel, 2019)
collaborations with artists and designers  Disparity of prices in Asia could lead to
(Louis Vuitton, 2010) decreased business (Arnett, 2019)

OPPORTUNITY THREATS

 Growing luxury goods market in Asia,  Proliferation of counterfeit is a big

especially China (Danziger, 2019) challenge for the brand (Flows, 2015)
 Extend target consumers to Gen Z and  All competitors are going fur-free
millennials (Danziger, 2019) (Mintel, 2019)
3.8 CUSTOMER TARGET MARKET

Figure 9: Customer segmentation analysis

Louis Vuitton target consumers both men and women from 18 to 60

years old. The brand has recently decided to extend its target market
to include Generation Z and millennials due to their growing spending
in luxury goods and their potential to drive the luxury market by 50%
DEMOGRAPHIC by 2025 (Fregne et al.; BCG Altagamma, 2019)

Ethnicity: 68% of consumers come from a white ethinicity (Mintel,

2019)

Income: Earnings between £100k-£150k and under £50k for the

younger segment (Mintel, 2019)
The brand strategically targeting on a global scale (New York Times,
1984). Their target resides mostly in West and Central Europe, US
and Asian countries. The brand is now heavily targeting China due to
a rise of a fashion-savvy middle class highly spending on luxury
goods and accounting for one third of the world's luxury sales
(Financial Times, 2019 ; Deloitte, 2018).
GEOGRAPHICAL
Moreover, India has been a potential focus of target due to the
growing segment of HENRYS (High-Earners-Not–Rich-Yet) and a
growing middle class who has changed traditional views of luxury
products by opening up to innovation and creativity (Deloitte, 2019).
PSYCHOGRAPHIC According to the VALS framework, Louis Vuitton's consumers are in
the high resource group of thinkers and achievers as they are
motivated by achievements and ideals (Mostafa, 2014). They enjoy
travelling in a luxurious way, like fine dining and participate in sports
activities often for social gathering. Their interests are in fashion, arts,
music and entertainment (Louis Vuitton, 2011; Williams, 2019). They
believe spending time with family is important and believe
sustainability is important (Positive luxury, 2020). Furthermore, Louis
Vuitton's consumers are also experiencers, which is the youngest
group segment motivated by self-expression and spend heavily on
clothing and luxury (Mostafa, 2014).
BEHAVIOURAL Occasion: Recognise the need to carry luxury handbags or wear
highly fashionable ready to wear

Benefit: Quality and craftmanship are tangible benefits sought for

initial purchase, but consumers are also willing to pay the premium
price to demonstrate a prestigious status or fulfillment (Hoyer et al.,
2012).

User status: They are regular and heavy users who engage with the
brand and purchase frequently (The Independent, 2004)

Loyal status: highly loyal customer base who continually

purchase the brand to enhance their appearance and status quo
and believe "one Louis Vuitton item in the closet looks too lonely"
(The
Independent, 2004)
4. BRANDING STRATEGY

4.1 BRAND EQUITY MODEL

In order to analyse Louis Vuitton's branding strategy, the brand equity model developed by

Aaker (2010) will be followed.

Figure 10: Aaker Brand equity model

Source: Aaker (2010)

BRAND LOYALTY

 Highest level of usage among competitors and considered by majority of consumers

as a favorite brand able to represent their personality (Mintel,2019)
 Recent introduction of pop up stores to enhance loyalty with existing and potential
new customers has been seen successful, especially in Asia (Mintel, 2020)
 Use of high-quality materials and lifetime repair services (Independent, 2014)
 High use of celebrity endorsement enhance loyalty (Olenski, 2016)

BRAND AWARENESS

 According to Mintel (2019) Louis Vuitton has high level of brand awareness (see Figure
n.11) which is a strength in the competitive market as it positively influences
consumers decision making, especially in high involvement decisions (Keller, 2012).
 LV Monogram is one of the most recognizable logo in the world (Yotka, 2018) and its
packaging has the combination of the two most historic used colors of the brand since
1854 in order to remind customers of the foundation of the brand (see Figure
n.12a&b) (Louis Vuitton, 2016).

Figure 11: Louis Vuitton - brand awareness

Figure 12a: LV Monogram

Source: Louis Vuitton

Figure 12b Louis Vuitton's packaging

Source: Louis Vuitton

PERCEIVED QUALITY

Louis Vuitton's consumers perceive the brand as being one of the luxury brands who has

never compromised on providing quality products. According to Mintel (2019) consumers

perceive the brand as having superior quality compared to other brands, meaning that the

perceived value of its products represents consumers' intention to choose purchase from the

brand and their willingness to pay the premium prices (Aaker, 1996; Keller, 1993).

Figure 13: Louis Vuitton - Consumer Perceptions

BRAND ASSOCIATIONS

 "Exclusive" is the mostly used attribute by consumers as association to the brand

(Mintel, 2019) .

 However, the brand has gained its positive associations with being exclusive only in the

past few years after overcoming brand image issues. In fact, it was previously being

associated with 'accessible luxury' (Ferdman, 2013)

 It was often associated negatively due to counterfeit LV products (Danziger, 2018)

 It is positively perceived as aspirational and classic (Mintel,2019)

 The brand is able to provide positive feelings and owning its products provide them a

confidence boost that make you stands out from the crowd (Mintel, 2018).

 Exclusive collaborations made the brand more appealing.

 Collaborations (see Figure n.14):

Grace Coddington in 2018 (LVMH, 2018)

Off White in 2018 (Gorsier,2018)

Supreme in 2017 (Lupica, 2017)

Jeff Koons in 2017 (Louis Vuitton, 2017)

Yayoi Kusama in 2012 (Alexander, 2012)

Figure 14: Louis Vuitton's collaborations

Source: Ilaria Quintè

4.2 CRITIQUE OF BRAND EQUITY MODEL

Through its dimensions, it is clear how the brand equity model provides value to Louis

Vuitton's customers as well as to the brand (Aaker, 1991). A strong brand identity can help

to build trust between the brand and consumers and be a source of competitive advantage

(Ghodeswar, 2008).

However, since brand identity creates certain associations in consumers' minds which result

in brand image (Martinez and De Chernatony, 2004) in order to effectively analyze Louis

Vuitton, an analysis of the brand image needs to be conducted.

4.3 BRAND IMAGE VERSUS BRAND IDENTITY ALIGNMENT

Figure 15: Louis Vuitton's identity prism

In the past decades Louis Vuitton had a diluted brand image in the Asian market due the

huge amount of counterfeits product and the brand being seen as 'accessible luxury' rather

than being 'exclusive' (Business of Fashion, 2013). However, as previously said, by

reinforcing brand values, introducing subtler designs and establish a better communication

with its target audience (Kornienko, 2017) the brand has been able to strengthen its brand

image.

In fact, as we can see from Figure n.15, Louis Vuitton is mostly associated with high quality

(42%), luxury (53%) and prestigious (34%), on the contrary is not perceived as an

accessible brand (6%) and youthful (8%) (Mintel, 2019). Therefore, the brand image and

identity are aligned, and consumers perceive the brand image positively as a reflection of

their strong associations with the brand (Keller, 2012).

On the other side, the brand also needs to carefully consider streetwear collaborations as

the older customer segment perceived the collaboration with Supreme not fitting the brand0s

identity (Folk, 2018).

4.3 DISCUSSION ABOUT BRAND EXTENSION

The market of luxury goods has become highly competitive in the past years as consumers'

demand for goods that are personal, authentic and unique has risen alongside lower-priced

premium brands that offer similar products without the premium prices (Danziger, 2019).

In 2017 LVMH included in its brand portfolio the make-up and skin care brand Fenty Beauty,

founded by the singer Rihanna. The brand recorded monumental profits for the Perfume &

Cosmetics division of LVMH and has been a huge success among Gen Z and millennials

consumers (Laningan, 2018 ; LVMH, 2019).

This suggest that Louis Vuitton could potentially consider expanding to the cosmetics market

which would allow to continue enhancing its product innovation by engaging with younger

audience whilst maintaining its loyal customers. However, as many competitors have also

expanded to this market, the success of this expansion depend on how well it is integrated

into the brand's existing strategy and whether consumers will have the same favorable

associations.

The question arises: will Louis Vuitton be able to maintain its strong competitive advantage

among competitors even in the Cosmetics market?

5. RECOMMENDATIONS - BRAND EXTENSION

5.1 EXTENSION IN THE COSMETICS MARKET

In a highly globalized and competitive market, new product innovations are often vital to

guarantee success in the long run (Kapferer, 2012). Despite Louis Vuitton has a strong

competitive position among its competitors in the Fashion and Leather Goods, further

opportunities from a well-implemented brand extension could arise. In fact, in 2016 the

brand entered the fragrances market to increase its customer base and reach consumers

with a lower spending. The extension globally exceeded expectations and was a huge

image boost for the brand (TFL, 2018 ). This section will propose a horizontal category

extension for the brand and proposes to enter in the cosmetics market by offering a new

product range of mascara and lipsticks. The previous success in the fragrances market can

lead to assume that a brand extension to the cosmetics market will be perceived favorably

by consumers.

Furthermore, it would be an opportunity for the brand to meet existing luxury consumers'

cosmetics needs whilst further drive a younger market.

5.1.2 COSMETICS MARKET

The prestige cosmetics sector is rapidly growing and has seen revenue growth in the past

years (see Figure n.16) where LVMH occupies a dominant position (see Figure n.17).

Figure n.16: Revenue of color cosmetics for premium products

Source: Mintel (2018)

Figure n.17: Market share of the top 10 face color cosmetics companies

Source: Mintel (2018)

According to Mintel (2018) 36% of cosmetics buyers prefer premium brands and 13% of

female buyers have increased their spending on premium products compared to the

previous year.
Furthermore, top products that consumers like to purchase from premium brands are

mascara (57%) and lipsticks (49%) , followed by nail polish (41%) (Mintel, 2019).

5.2 BRAND EXTENSION PROPOSAL

The framework shown in Figure n. 18 will be used in order to evaluate Louis Vuitton's

potential brand extension in the Cosmetics sector. It will help to analyze the fit with the

brand's concept and resources, consumers' needs and the sustainable competitive

advantage towards competitors (Kapferer, 2012).

Figure 18: Framework for brand's extension evaluation

Source: Kapferer (2012, p.295).

5.2.1 CONSUMER'S NEEDS

 As a result of an increase in consumers' concerns of personal appearance, the

usage of Cosmetics has increased in the last year with consumers' desires to have 'a

perfect face' (Mintel,2019)

  Appearance and image are fundamental for luxury consumers as well as younger

generations and they perceive luxury cosmetics products having a superior value as

a reflection of their identity (Mintel, 2019).

 Increase demand of premium products to achieve great looks for social media

(WSGN,2020)

 Desire product qualities for lipsticks and mascara: cruelty free (38%), sustainable

added value (32%), ethically produced (17%) and refillable packaging (Mintel,

2019)

 Refillable trendy packaging designed to be kept forever with items designed to be

shown as a piece of art (WSGN, 2020)

5.2.2 BRAND CONCEPT AND

RESOURCES Figure 19: Brand Extension

Moodboard

Source: Ilaria Quintè

Product: Cosmetic line including lipsticks and mascara

General points for Product Collection:

- Key Feature: High quality make up line with prolonged durability that deliver a

smooth, shine and classy finish

- Extended range of red colors for lipsticks, classic berry tones and pinks and bolder

options for younger consumers

- Combination of sustainable ingredients and added benefits: use of sustainable

ingredients such as infused flower oils for lipsticks

- Ethical sourcing of ingredients and cruelty free

- Refillable packaging: consumers can refill every product they purchase. Arty packaging

with possibility of personalization

Price: price range between £50-£200. Prices will be higher than competitors in order to

maintain the brand's exclusivity but despite it is a lower price barrier for the brand, products

will still stand out and perceived positively by consumers, even with more accessible prices.

Placement: Selected Louis Vuitton stores in order to maintain the brand's exclusivity

Promotion: The product line could be launched and tested through pop up stores, which

have been seen as an effective and popular promotion channel to engage with existing and
potential customers for the brand recently (Mintel, 2019). Also, celebrity endorsement will be

used to leverage audience and promote values such as cool, confident and individual.

5.2.3 TARGET MARKET

Following Kapferer (2012) framework shown in Fig.20, the new make-up line will appeal to

the same target market and will provide the same differential advantage.

The new make-up line should consider consumers aged between 20-55 as the main target

market. Image and appearances are very important for them and therefore they are willing to

pay premium prices for beauty products from luxury brands in order to improve their feelings

toward their appearance (Mintel, 2019).

Gen Z and Millennials would be highly be attracted as despite driving the luxury spend

market, they are considered highly profitable consumers for Louis Vuitton, which has

received 33% of its profits from last year from consumers aged 21-37 (Falk, 2017; Elven,

2018).

Figure 20: Brand extension target evaluation

Source: Adapted from Kapferer (2012)

5.2.4 COMPETITIVE ADVANTAGE

 The brand will partly use sustainable ingredients such as flower hydrating oils for

lipsticks and all product range will be cruelty-free, which many luxury competitors are

not offering yet in the market

 VALUE PROPOSITION: Same differential and competitive advantage of the parent line

on product innovation and high quality

5.2.5 COMPETITORS

There are already established competitors in this market such as Chanel, Dior, Hermès for

lipsticks and Yves Saint Laurent (Mintel, 2019). However, most of them don't offer

sustainable ingredients or cruelty free products, therefore Estee Lauder could be one of the

main competitors in the market (Kushwaha, 2019).

5.2.6 BENEFITS

 Possibility of attracting a younger segment which have currently less spending, but they

can be converted into loyal spenders as they grow

 Positively increase brand image

 Stronger relationship with loyal customers which can use the brand in another "context"

 Since the beauty market is new for Louis Vuitton, consumers who are currently buying

competitors' beauty products but normally purchase Louis Vuitton products could shift

and increase customers' base

 It can boost sales and steal market share to profitable competitors in the market

 Increase its competitive advantage in terms of product and materials innovation

 The brand has already high levels of perceived quality, therefore the extension product

should benefit from that relationship and receive positive associations

  Increase brand awareness and brand recognition by doing events and beauty activities

with make up specialists

5.2.7 RISKS

 Damage or weaken to existing brand image in case of negative associations

 Risk of damaging all brand portfolio of LVMH

 Competition with brand division partner Dior could decrease profits

 Strong established competitors in the market

 Loss of consumers loyalty if brand extension is perceived negatively

 Saturated market and high entry costs

5.3 CONCLUSION

This report aimed to define the current branding and positioning strategies of Louis Vuitton in

order to analyze the feasibility of a possible brand extension.

From the analysis it is clear that despite previous challenges around brand image, the brand

has been able to maintain a strong positioning in the luxury market among competitors by

constant product and design innovation. The brand's strong positioning and positive

associations allow to considerate possible brand extensions in the cosmetics market. In

order to attract new consumers in a very challenging industry it can be required to innovate

brand's strategies. A luxury strategy can be implemented at different price points (Kapferer,

2012) and therefore, lower the price entry barrier is not always considered risky if the brand

is able to maintain the same strong favorable associations belonging to the parent brand.

Therefore, despite further research is needed to considerate its feasibility, the suggested

brand extension could bring the brand a larger customer segment and further competitive

advantage among competitors if it is successfully implemented and communicated to

consumers.
APPENDIX
REFERENCES

Aaker, D. (1992) The value of brand equity. Emerald Insight. Journal of Business Strategy.

Vol. 13 No. 4, pp. 27-32. Available from:

https://www.emerald.com/insight/content/doi/10.1108/eb039503/full/html?skipTracking=true

(Accessed on 2 April 2020)

Aaker, D. (2010) Building strong brands. London: Pocket Books (Accessed 3 April 2020)

Alexander, E. (2012) Vuitton and Kusama. Vogue. Available from:

https://www.vogue.co.uk/gallery/louis-vuitton-unveils-yayoi-kusama-collection (Accessed on

2 April 2020)

Alexander, E. (2017) Louis Vuitton is officially fashion's most valuable brand. Harpers

Bazaar. Available from: https://www.harpersbazaar.com/uk/fashion/fashion-

news/a43977/louis-vuitton-most-valuable-brand/ (Accessed 23 March 2020)

Arnett, G. (2019) Louis Vuitton has raised prices in China. Other brands could follow. Vogue

Business. Available from: https://www.voguebusiness.com/companies/luxury-price-increase-

lvmh-kering-china-dior-chanel-bottega-veneta-gucci. (Accessed on 28 March 2020)

Business of Fashion (n.d ) Louis Vuitton. Available from:

https://www.businessoffashion.com/organisations/louis-vuitton.

(Accessed on 23 March 2020)

Business of Fashion (2013) Made-in-Asia Luxury Sheds Fake Image, Challenging Louis

Vuitton. Available from: https://www.businessoffashion.com/articles/news-analysis/made-in-

asia-luxury-sheds-fake-image-challenging-louis-vuitton (Accessed on 13 April 2020)

Businesswire (2011) LVMH acquires Les Tanneries Roux. Available from:

https://www.businesswire.com/news/home/20120503006566/en/LVMH-acquires-Les-

Tanneries-Roux. (Accessed on 25 March 2020)

Dalziel & Pow (2018) Why accessible luxury is winning Millennials and Gen Z. Available

from: https://www.dalziel-pow.com/news/accessible-luxury-millennials-gen-z

Danziger, P. (2019) 4 Major Challenges Facing The Luxury Market In 2020, And

Opportunities For Brands That Lean Into Them. Forbes. Available from:

https://www.forbes.com/sites/pamdanziger/2019/12/20/4-major-challenges-facing-the-luxury-

market-in-2020-and-opportunities-for-brands-that-lean-into-them/#81cc9b7176d2 (Accessed

on 6 April 2020)

Danziger, P. (2019) 3 Ways Millennials And Gen-Z Consumers Are Radically Transforming

The Luxury Market. Forbes. Available from:

https://www.forbes.com/sites/pamdanziger/2019/05/29/3-ways-millennials-and-gen-z-

consumers-are-radically-transforming-the-luxury-market/#1ae92d60479f (Accessed on 25

March 2020)

Danziger, P. (2018) Louis Vuitton or Hermès: which is the more authentic luxury brand?

Forbes. Available from: https://www.forbes.com/sites/pamdanziger/2018/08/01/louis-vuitton-

or-hermes-which-is-the-more-authentic-luxury-brand/#22a5651dbab0. (Accessed on 27

March 2020)

D'Arpizio, C., Levato, F., Prete, F., Del Fabbro, E., De Montgolfier, J. (2019) The Future of

Luxury: A Look into Tomorrow to Understand Today. Bain & Company. Available from:

https://www.bain.com/insights/luxury-goods-worldwide-market-study-fall-winter-2018/.

(Accessed on 25 March 2020)

Davis, M.D. (2020) Take a look inside Louis Vuitton's first restaurant. Business Insider.

Available from: https://www.businessinsider.com/louis-vuitton-opening-first-restaurant-and-

cafe-2020-1?r=US&IR=T (Accessed on 6 April 2020)

Deloitte (2018) Global Powers of Luxury Goods 2018. Shaping the future of the luxury

industry . Available from:

https://www2.deloitte.com/content/dam/Deloitte/mx/Documents/consumer-

business/2018/Global-Power-of-Luxury-Goods-2018.pdf (Accessed 29 December 2019)

Euromonitor (2020) Luxury Leather Goods in the United Kingdom. Competitive Landscape.

Available from: https://www.euromonitor.com/luxury-leather-goods-in-the-united-

kingdom/report. (Accessed on 25 March 2020)

Falk, NJ (2017) What You Need To Know About Luxury Consumer Trends For 2018.

Forbes. Available from: https://www.forbes.com/sites/njgoldston/2017/12/29/what-you-need-

to-know-about-luxury-consumer-trends-for-2018/#1346dd9121eb (Accessed on 7 April

2020)

Ferdman, A.R. (2013) The classic Louis Vuitton logo may be killing the company’s handbag

sales. Available from: https://qz.com/135639/the-classic-louis-vuitton-logo-may-be-killing-

the-companys-handbag-sales/ (Accessed on 13 April 2020)

Forbes (2019) #12 Louis Vuitton. Available from: https://www.forbes.com/companies/louis-

vuitton/#3edb00556dbe. (Accessed 2 April 2020)

Foundation Louis Vuitton (n.d) The programme. Available from:

https://www.fondationlouisvuitton.fr/en/calendar.html. (Accessed on 27 March 2020)

Gauberti, A. (2014) Why selective distribution makes sense for a luxury or premium

business. Available from: https://crefovi.com/articles/why-selective-distribution-makes-

sense-luxury-premium-fashion-business/ (Accessed on 25 March 2020)

Gebel, M. (2019) How the Dumas family, heirs to the $49.2 billion Hermès fortune, turned a

leather store into a luxury empire and became one of the wealthiest family in the world.

Business Insider. Available from: https://www.businessinsider.com/dumas-family-hermes-

wealth-net-worth-heirs-fortune-lifestyle-birkin-2019-3?r=US&IR=T. (Accessed on 26 March

2020)

Gorsier, F. (2018) These Louis Vuitton OFF–WHITE x Nike Air Jordan 1s Are Next Level.

Highsnobiety. Available from: https://www.highsnobiety.com/p/off-white-nike-air-jordan-1-

louis-vuitton-custom/. (Accessed on 2 April 2020)

Gucci (2020) About Gucci. Available from: https://www.gucci.com/uk/en_gb/st/about-gucci.

(Accessed on 26 March 2020)

Hermès (2020) Stores. Available from: https://finance.hermes.com/en/Group-

overview/Stores. (Accessed on 27 March 2020)

Hope, K.(2017) The secret supplier to the world's top designers. BBC. Available from:

https://www.bbc.co.uk/news/business-40728150 (Accessed on 25 March 2020)

Holborow, O. (2012) Louis Vuitton. Vogue. Available from:

https://www.vogue.co.uk/article/louis-vuitton. (Accessed on 21 March 2020)

Independent (2004) The Louis Vuitton money machine. Available from:

https://www.independent.co.uk/news/business/analysis-and-features/the-louis-vuitton-

money-machine-566199.html (Accessed on 2 April 2020)

Interbrand (2019) Interbrand Celebrates 20 Years of Best Global Brands Report, Highlights

Fastest Growing Sectors. Available from: https://www.interbrand.com/newsroom/interbrand-

releases-2019-best-global-brands-report/. (Accessed 20 March 2020)

Kering (2020) Houses. History. Gucci. Available from:

https://www.kering.com/en/houses/couture-and-leather-goods/gucci/history/. (Accessed on

26 March 2020)

Kapferer, J-N. (2012) The New Strategic Brand Management: Advanced Insights

and Strategic Thinking. 5th Ed. Kogan Page.

Keller, K.L. (2012) Strategic Brand Management: Building, Measuring, and Managing

Brand Equity. 4th Ed. Pearson.

Kornienko, A. (2017) Expensive Taste. How Did Louis Vuitton Become #1 Luxury Brand in

China?. Gfluence. Available from: https://gfluence.com/expensive-taste-louis-vuitton-

become-1-luxury-brand-china/ (Accessed on 13 April 2020)

Kotler, P., Armstrong, G. (2016) Principles of Marketing. Harlow: Pearson

Kushwaha, B. (2019) Estée Lauder Expands Commitment to Cruelty-Free Testing.

L'Officiel. Available from: https://www.lofficielusa.com/beauty/estee-lauder-cruelty-free-

testing-2019 (Accessed on 7 April 2020)

Laningan, R. (2018) How Fenty Beauty took over the world. i-D. Available from: https://i-

d.vice.com/en_us/article/j53bv3/how-fenty-beauty-took-over-the-world (Accessed on 6 April

2020)

LVMH (2015) LMVH and innovation. Available from: https://www.lvmh.com/news-

documents/news/lvmh-and-innovation/. (Accessed on 27 March 2020)

LVHM (2018) Louis Vuitton unveils capsule collection with Grace Coddington, former

creative director of Vogue US. Available from: https://www.lvmh.com/news-

documents/news/louis-vuitton-unveils-capsule-collection-with-grace-coddington-former-

creative-director-of-vogue-us/. (Accessed on 2 April 2020)

LVMH (2019) 16% revenue growth in the first nine months of 2019. Revenue by business

group. Available from: https://www.lvmh.com/news-documents/press-releases/16-revenue-

growth-in-the-first-nine-months-of-2019/ (Accessed on 6 April 2020)

LVMH (2020) Fashion & Leather Goods. Available from:

https://www.lvmh.com/houses/fashion-leather-goods/. (Accessed on 21 March 2020)

LVMH (2019) Louis Vuitton. Available from: https://www.lvmh.com/houses/fashion-leather-

goods/louis-vuitton/. (Accessed on 21 March 2020)

LVMH (2020) Record results for LMVH in 2019. Available from: https://www.lvmh.com/news-

documents/press-releases/record-results-for-lvmh-in-2019/ (Accessed on 21 March 2020)

LVMH (2020) Louis Vuitton announces partnership with National Basketball Association

(NBA) and becomes Official Trophy Travel Case Provider. Available from:

https://www.lvmh.com/news-documents/news/louis-vuitton-announces-partnership-with-

national-basketball-association-nba-and-becomes-official-trophy-travel-case-provider/

(Accessed on 27 March 2020)

Louis Vuitton (n.d) A Legendary History. Available from: https://uk.louisvuitton.com/eng-

gb/la-maison/a-legendary-history#. (Accessed on 21 March 2020)

Louis Vuitton (n.d) Is there a Louis Vuitton outlet store? Available from:

https://uk.louisvuitton.com/eng-gb/louis-vuitton-outlet. (Accessed on 27 March 2020)

Louis Vuitton (2010) Celebrating Monogram. Heritage. Available from:

https://uk.louisvuitton.com/eng-gb/articles/celebrating-monogram (Accessed on 28 March

2020)

Louis Vuitton (2017) MASTERS - A COLLABORATION WITH JEFF KOONS. Available from:

https://uk.louisvuitton.com/eng-gb/articles/lea-seydoux-unveils-the-second-collection-of-

bags-designed-with-jeff-koons (Accessed on 2 April 2020)

Louis Vuitton (2017) LOUIS VUITTON REVEALS A NEW RANGE OF PACKAGING.

Available from: https://uk.louisvuitton.com/eng-gb/articles/louis-vuitton-reveals-a-new-range-

of-packaging. (Accessed on 2 April 2020)

Louis Vuitton (2020) Locate a store. Available from: https://uk.louisvuitton.com/eng-

gb/stores. (Accessed on 27 March 2020)

Lupica, H.L. (2017) A Louis Vuitton and Supreme collaboration is about to drop. Vogue.

Available from: https://www.vogue.com.au/fashion/news/a-louis-vuitton-and-supreme-

collaboration-is-about-to-drop/news-story/296734673735d4d96e97dfb7cfc76b58. (Accessed

on 2 April 2020)

Marwah, S.R. (2019) Value Proposition for Luxury Brands - Strategy. Linkedin. Available

from: https://www.linkedin.com/pulse/value-proposition-luxury-brands-strategy-ravineet-

singh-marwah (Accessed on 14 April 2020)

Mcalpine, S. (2019) The Rise Of 'The Spectacle Store', From Louis Vuitton's Newly

Renovated Bond Street Flagship To Celine. Elle. Available from:

https://www.elle.com/uk/fashion/a29558503/the-rise-of-the-spectacle-store/.(Accessed on 27

March 2020)

Mintel (2018) Colour Cosmetics - Face - China - June 2018. Available from:

https://reports.mintel.com/display/901474/?fromSearch=%3Ffreetext%3Dcosmetics%2520m

arket (Accessed on 6 April 2020)

Mintel (2019) Attitudes towards beauty - China - November 2019. Available from:

https://reports.mintel.com/display/992812/?fromSearch=%3Ffreetext%3Dcosmetics%2520at

titudes (Accessed on 6 April 2020)

Mintel (2019) Designer Fashion - UK - December 2019. Available from:

https://reports.mintel.com/display/996194/?fromSearch=%3Ffreetext%3DLouis%2520vuitton

(Accessed on 27 March 2020)

Mintel (2019) Luxury Goods Retail International - August 2019. Available from:

https://reports.mintel.com/display/972914/?fromSearch=%3Ffreetext%3DLouis%2520vuitton

(Accessed on 27 March 2020)

Mintel (2019) Color Cosmetics - UK - May 2019. Available from:

https://data.mintel.com/databook/919582/ (Accessed on 6 April 2020)

Mintel (2019) The Luxury Consumers -US- August 2019. Available from:

https://reports.mintel.com/display/971724/?fromSearch=%3Ffreetext%3DLouis%2520Vuitton

%2520 (Accessed on 3 April 2020)

Mintel (2019) Handbags - UK- January 2019. Available from:

https://reports.mintel.com/display/939456/?fromSearch=%3Ffreetext%3DLouis%2520Vuitton

%2520 (Accessed on 2 April 2020)

Mintel (2019) The Generation Z BPC Consumer - UK - August 2019. Available from:

https://reports.mintel.com/display/972606/?fromSearch=%3Ffreetext%3Dcosmetics%2520at

titudes (Accessed on 7 April 2020)

Mintel (2020) Pop-up Stores - China - February 2020. Available from:

https://reports.mintel.com/display/1006002/?fromSearch=%3Ffreetext%3DLouis%2520Vuitto

n%2520 (Accessed on 2 April 2020)

Mintzberg, H., Lampel, J., Quinn, B.J., Ghosal, S. (2003) The strategy concepts contexts

cases. Case 16: LMVH: Taking the Western Art de Vivre to the world. Pearson Education

Limited. 4th ed. pp. 166

Mira, N. (2016) Closer look at the luxury market: brand perception is everything, both for

Louis Vuitton and Cucinelli. Fashion Network. Available from:

https://uk.fashionnetwork.com/news/Closer-look-at-the-luxury-market-brand-perception-is-

everything-both-for-louis-vuitton-and-cucinelli,744192.html. (Accessed on 26 March 2020)

Mostafa, E.I. (2014) V.A.L.S. Model (Values and Lifestyles) The Most Intelligent Tool

For Understanding Of CustomersValues And Lifestyles. Linkedin. Available from:

https://www.linkedin.com/pulse/20141011232233-99993053-v-a-l-s-model-values-and-

lifestyles-the-most-intelligent-tool-for-understanding-of-customersvalues-and-lifestyles/.

(Accessed on 28 March 2020)

Mulholland, S. (2019) US luxury conglomerates aren’t a threat to LVMH and Kering (yet).

Vogue Business. Available from: https://www.voguebusiness.com/companies/q2-luxury-

earnings-2019-luxury-fashion-lvmh-kering. (Accessed on 25 March 2020)

Nicoletti, S. (2018) Hermès vs. Kering: The Mindful Approach to Luxury Brands' DNA.

Luxury Society. Available from: https://www.luxurysociety.com/en/articles/2018/05/hermes-

vs-kering-mindful-approach-luxury-brands-dna/. (Accessed on 26 March 2020)

Olenski, S. (2016) How Brands Should Use Celebrities For Endorsements. Forbes. Available

from: https://www.forbes.com/sites/steveolenski/2016/07/20/how-brands-should-use-celebrities-

for-endorsements/#77edcc4c5593 (Accessed on 2 April 2020)

Porter, M. (1979) How competitive forces shape strategy. Harvard Business Review.

Available from: https://hbr.org/1979/03/how-competitive-forces-shape-strategy. (Accessed

on 26 March 2020)
Statista (2019) Luxury Goods Report 2019 – Luxury Leather Goods. Available from:

https://www.statista.com/study/56841/luxury-report---luxury-leather-goods/. (Accessed on 25

March 2020)

Statista (2019) Number of Burberry stores worldwide as of 2019, by outlet type and region.

Available from: https://www.statista.com/statistics/439354/burberry-s-number-of-stores-

worldwide-by-outlet-type-and-region/. (Accessed on 26 March 2020)

Statista (2020) Consumer Goods & FMCG. Clothing & Apparel. Gucci - Statistics & Facts.

Available from: https://www.statista.com/topics/5132/gucci/. (Accessed on 27 March 2020)

Street, C. (2019) LVMH plan to open Cheval Blanc hotel, spa and Louis Vuitton café in

London's Mayfair. Evening Standard. Available from:

https://www.standard.co.uk/fashion/news/lvmh-cheval-blanc-hotel-mayfair-london-opening-

a4081761.html (Accessed on 28 March 2020)

Sun, L. (2019) LVMH's Louis Vuitton Is Rising to the Top of the Gen Z Market.

Nasdaq. Available from: https://www.nasdaq.com/articles/lvmhs-louis-vuitton-is-

rising-to-the-top-of-the-gen-z-market-2019-10-11 (Accessed on 6 April 2020)

TFL (2018) LVMH Looks to the Power of Fragrance and (Fenty) Beauty to Further Boost

Sales. The fashion Law. Available from: https://www.thefashionlaw.com/lvmh-looks-to-the-

power-of-fragrance-and-beauty-to-further-boost-sales/ (Accessed on 5 April 2020)

The Independent (2004) The Louis Vuitton money machine. Available from:

https://www.independent.co.uk/news/business/analysis-and-features/the-louis-vuitton-

money-machine-566199.html (Accessed on 2 April 2020)

Turner, M.M (2016) Evaluating the Perception of Luxury Brands in Today’s Marketplace and

the Impact of the Digital Age on these Brands. Marketing Undergraduate Honors Thesis. 27.

Available from: https://scholarworks.uark.edu/cgi/viewcontent.cgi?

article=1030&context=mktguht. (Accessed

on 23 March 2020)

Van de Broeke, T., Maoui, Z. (2018) How Burberry became Britain’s most important brand.

GQ Magazine. Available from: https://www.gq-magazine.co.uk/article/how-burberry-became-

britains-most-important-brand. (Accessed on 26 March 2020)

Van Elven, M. (2018) Millennials willing to spend more on luxury, Gucci & Louis Vuitton most

popular brands. Fashion United. Available from:

https://fashionunited.uk/news/retail/millennials-willing-to-spend-more-on-luxury-gucci-louis-

vuitton-most-popular-brands/2018100139234 (Accessed on 6 April 2020)

White, S., Denis, P. (2018) Louis Vuitton expands French manufacturing to meet handbag

demand. Reuters. Available from: https://uk.reuters.com/article/us-lvmh-vuitton-

manufacturing/louis-vuitton-expands-french-manufacturing-to-meet-handbag-demand-

idUKKBN1H32X3. (Accessed on 27 March 2020)

Williams, R. (2019) Louis Vuitton Commits to French Supply Chain with New Factory.

Bloomberg Businessweek. Available from:

https://www.bloomberg.com/news/articles/2019-10-04/louis-vuitton-just-opened-a-new-

factory-in-france. (Accessed on 25 March 2020)

WSGN (2020) Big Ideas 2022: Tech-celleration. Report. Available from:

https://www.wgsn.com/beauty/article/86600 (Accessed on 6 April 2020)

WSGN (2020) Trend Alert AW20/21 Keepsake Packaging. Report. Available from:

https://www.wgsn.com/beauty/article/86514 (Accessed on 6 April 2020)

Zlatanova, M., Manole, M., Helfach, T. (2017) The Strategic Brand Management: Master

Papers. KEY SUCCESS FACTORS FOR LUXURY BRANDS STRETCHING INTO

ATHLEISURE. Available from: http://lup.lub.lu.se/luur/download?

func=downloadFile&recordOId=8971150&fileOId=8971151

(Accessed on 2 April 2020)