Louis Vuitton is one of the most prestigious luxury fashion houses in the World. In a previous post, I analysed diversification and segmentation in the fashion retail industry. Armani and Inditex are fashion retailers that have grown thru different diversification strategies. Armani is closing some of its brands due to some inconsistencies between brand, value proposition and pricing.
When we analyse diversification strategy in a retail business, we normally refer to different products focusing on a customer profile. The result will be a complementary product into the lifestyle universe of a concrete customer segment. But, if product is important, experience is the key factor that considers all the senses. Luxury is first of all, EXPERIENCE.
Louis Vuitton has created a new Versailles in Paris, La Fondation Louis Vuitton. This is one of the key factors to position a brand in the luxury fashion pyramid. It´s a new Mecca for Louis Vuitton fans but also for general tourists that wants to visit an architectural piece of art, designed by Frank Gehry. But it´s not all about building temples of art.
Louis Vuitton is selling special city guide books in their e-shop. This is not at all something new because LV offers the city guide collection since 1998. But, in 2017, LV released a new edition, with more cities and a new App.
The City Guide gift experience
Purchased online with a delivery time of 5-7 days. A carton customized by Louis Vuitton. Inside, an envelope with a thank you letter and invoice. Next, a ribbon wrapped box with the city guide inside. The City Guide is a chic collection of recommendations to experience to city differently.
See the introduction video of the New Edition of Louis Vuitton City Guides here.
Read more about LVMH latest news on The Fashion Retailer:
- Kendo, LVMH Beauty incubator
- Nowness, LVMH digital media
- 24 sèvres, the multibrand online platform of LVMH