Chanel, Louis Vuitton new price hike is gutsy
Raising prices during an economic slowdown is always a risky idea, but that has not stopped Chanel and Louis Vuitton from going ahead with their attempt to harmonize cost of goods to customers.
Raising prices during an economic slowdown is always a risky idea, but that has not stopped Chanel and Louis Vuitton from going ahead with their attempt to harmonize cost of goods to customers.
Luxury Daily’s live news: Bentley Motors prepares to welcome back employees with 250 new hygiene and social distancing measures; Louis Vuitton retains position as world’s most valuable luxury brand; Mr Porter’s new The Details podcast is catnip to those obsessed with finer points of menswear; Webinar on May 13: China Luxury Rebound: Lessons for Other Markets.
Luxury Daily’s live news: Bentley Motors prepares to welcome back employees with 250 new hygiene and social distancing measures; Louis Vuitton retains position as world’s most valuable luxury brand; Mr Porter’s new The Details podcast is catnip to those obsessed with finer points of menswear; Webinar on May 13: China Luxury Rebound: Lessons for Other Markets.
The LVMH-owned brand was valued at $51.8 billion by the BrandZ report’s producers, ad agency conglomerate WPP and its Kantar market research arm.
Many luxury brands are relying on their archives to communicate and engage with fans on social media as campaigns are put on hold until the economy improves and photo shoots shut down amid coronavirus shelter-in-place orders.
Luxury Daily’s live news: Four Seasons unveils first podcast series with dialogues on life-changing travel; Louis Vuitton’s Virgil Abloh designs first Silver Lockit collection for UNICEF support; Rolls-Royce Motor Cars employees pick Families of Ocean Ward as new house charity for 2020; François Demachy, Dior and LVMH head of perfumes, wins French high honor for the arts.
Luxury Daily’s live news: Four Seasons unveils first podcast series with dialogues on life-changing travel; Louis Vuitton’s Virgil Abloh designs first Silver Lockit collection for UNICEF support; Rolls-Royce Motor Cars employees pick Families of Ocean Ward as new house charity for 2020; François Demachy, Dior and LVMH head of perfumes, wins French high honor for the arts.
Louis Vuitton since 2016 has helped raise funds for UNICEF to aid vulnerable children around the world.
As much as luxury marketers must remain culturally relevant, and streetwear and team sports including the NBA are important cultural touch points for the younger generation that Louis Vuitton and other legacy luxury houses must cultivate, this collaboration might be stretching the brand too far.
Luxury Daily’s live news – Hermès challenges cosmetics establishment with official debut of Hermès Beauty; Burberry gives voice to models with spring-summer 2020 campaign; Louis Vuitton’s new menu for growth: restaurants; Tiffany & Co. shareholders approve acquisition by LVMH for $16.2B.