As Louis Vuitton wraps its Fifth Avenue construction site in the brand’s iconic monogram, turning scaffolding into art, a company profile looks at how LV became the most recognisably symbolic luxury brand, combining heritage, modernity, uniqueness, that highly recognisable logo and, of course, luxury.
Founded in Paris in 1854, it certainly brings heritage to the table, but it is through a remarkably advanced grasp of digital and omnichannel, social media and collaborations that the brand has brought this heritage to a whole new audience, while managing to not alienate its existing, more ‘old school’ customers.
While it runs more than 6,000 stores globally, LV has managed also to create a cutting-edge online presence that combines a friendly, easy-to-use ecommerce site and virtual live shopping with personal recommendations. However, it has gone much further – perhaps further than almost any other luxury retailer – into what it can do online.
For starters, LV has a strong presence across Instagram, YouTube and, outside of Europe, WeChat. Its content strategy regularly showcases products, heritage and craftsmanship through the use of high-quality photos, videos and behind- the-scenes glimpses. Additionally, influencer marketing campaigns strategically target specific European demographics.
LV also uses interactive campaigns and digital storytelling to engage European audiences. For instance, its ‘LV by the Book’ campaign used augmented reality (AR) to bring fashion illustrations to life as a real world overlay.
But it is in the putative metaverse where it is a heritage brand that is very much at the online bleeding edge. LV has dipped its toes into the world of gaming, creating exclusive skins for League Of Legends and exploring virtual experiences within the metaverse. This approach attracts younger European shoppers who are comfortable in these online spaces and, in turn, is bringing this well-known, high-end luxury brand to a whole new generation of shoppers.
In line with other well-known luxury brands, LV is also keen to enhance its green reputation and has instigated a number of interesting initiatives here too. It is committed to using ethically sourced materials such as Responsible Leather and recycled nylon in some collections. It has also launched La Malle Louis Vuitton, a circular economy initiative that allows customers to refurbish and resell pre-loved LV items, extending product life and reducing waste.
So, what do consumers make of these LV initiatives? The brand has a remarkably loyal user base, with repeat purchases relatively high for the sector. A staggering 12.3% of GenZ make multiple purchases a year from LV, with many more (23.7%) making one. The levels are similar among millennials (8.9% and 23% respectively).
This is one of nine company profiles in the Europe Luxury 2024 report. Coach, Farfetch, Gucci, Guerlain, Longines, Lyst, Pandora and Ray-Ban are also looked at in detail.
The wider report analyses the growth of European luxury retail and ecommerce that has plateaued, this however isn’t necessarily a sign of the market stalling, but more an indication it is evolving. The report uses the results of our ConsumerX data to analyse attitudes to what, why, where and how Europeans’ buy luxury goods.
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