Fri. 25 Nov 2022, 5:48am ET Benzinga News, Media, General
- French luxury fashion house Louis Vuitton, part of LVMH (OTC:LVMHF), is planning to launch its first furniture and homewares store in Shanghai.
- The showroom, Reuters reported, will serve only on appointment basis and is expected to open on November 28.
- The move is Louis Vuitton's attempt to expand its lifestyle offerings to affluent Chinese customers.
- The store will also feature the brand's first Chinese collaborator, Frank Chou's designs.
- "LMVH is striving to ... reposition itself as a contemporary luxury brand by tapping new avenues that resonate with dynamic Chinese Millennials and Gen Z consumers," the report cited GlobalData consumer analyst Bobby Verghese.
- "Unlike their predecessors who prioritized privacy, the Gen Y digital immigrants and Gen Z digital natives are not averse to flaunting their lifestyles on social media."
- Luxury brands in China are finding new ways to reach wealthy customers as economic curbs due to COVID-19 pandemic hurt businesses.