Louis Vuitton's Marketing Strategy In China

According to analysis of the Goldman Sachs Group, global luxuries market size reached about 50 billion U.S. dollars in 2004. It is remarkable that East Asia has become a powerful engine which made the luxuries market grow greatly. In recent years, the Chinese are like"a new force suddenly rises", becoming the focus concerned by many luxuries companies. According to the Goldman Sachs report, the sales amount coming from Chinese consumers have been 12% of the total global luxuries sales in 2004.According to research report on China's luxury market by Goldman Sachs, Chinese consumers have become the world's third largest luxuries consumer group. By 2008, Chinese consumers will contribute 20% to the global luxuries industry. In 2015, Chinese consumer and the Japanese consumer will become equally important to the global luxuries consumer market.Rising luxuries consumption drives high market to make rapid expansion. Currently, almost all the world's top brands set their branches even some flagship stores in China. Louis Vuitton (LV), one of the industry-leading luxuries companies made their luxury brand deeply rooted in the Chinese consumers'hearts and once again created its glory. As newly emerging luxuries consumption, foreign luxury brands occupy allthe Chinese luxuries consumer market. Until now, there is no local luxuries brand in China which has the world's largest population. For the successful creation of local luxuries brand, it will make great contribution to study and understand Chinese luxuries market and consumer psychology, and to learn from foreign experience in marketing strategy.In this paper, the author attempts to study the implementation of the success strategy by the well-known Louis Vuitton (LV) in the Chinese mainland market to fully understand the Chinese luxuries consumption, thereby, the author will provide some useful suggestions for Chinese enterprises for creating our own local luxuries brand.