Louis Vuitton

 

Louis Vuitton, the founder of this famous brand legend, was born in a remote French town in 1821. In 1837, at the age of 16, he left his hometown and went to Paris to pack for the nobles. He witnessed the invention of the steam train, the development of steamboat transportation, and also realized the difficulty of folding the dome trunk at that time. 

So in 1954, Louis Vuitton revolutionized the creation of flat-top leather cases. At the same time, it opened its first shop in downtown Paris. LV brand, which started with suitcases, won the name of "watertight" because of its outstanding skills and original fabrics, and became a high-grade brand that nobles loved to travel at that time. In 1867, Louis Vuitton won a bronze medal at the World Expo, which made the brand even more famous and became an internationally renowned brand.

Lv brand has lasted for hundreds of years, and lv has accumulated profound cultural connotation in the long history. LV brand positioning is not only named after its founder Louis Vuitton(LV), but also inherits his attitude of pursuing quality and striving for excellence.

Attitude towards consumers: You can see the upward trend of the Chinese market by studying several subtle changes of Chinese consumers from the official website of Louis Vuitton. In 1997, when Louis Vuitton opened its official website for the first time, it set up its first Chinese webpage, which was the fifth year for LV to enter mainland China. 

Four years later, Louis Vuitton set up a new website in four different languages: English, French, Japanese and traditional Chinese. In July of the same year, Louis Vuitton's Chinese website added "Greater China Focus" column, which mainly covered the trends of LV in Hongkong, Taiwan Province and mainland China. 

Mr. Shi Ande, managing director of Louis Vuitton China, admitted: "This is really set up because of the increasing number of Chinese consumers of Louis Vuitton, especially those in mainland China." One of LV's new plans is to open a simplified Chinese website and increase the content of the website closer to the mainland market. This luxury brand trying to enter China's luxury goods industry put down its shelf to listen to customers' voices and feel the pulse of this emerging market. 

"In the past, the golden rule of success in the luxury goods industry was elegance, consistency and positive effectiveness: don't ask customers what they want, but tell them what they should have." Nowadays, facing an unfamiliar market, the self-centered approach will no longer work. You must know your customers and deeply grasp their high-end value proposition. "Don't just let your customers know about you, but try to get to know them."

Bain Consulting Company (Bain) said in the luxury goods report in 2005. Louis Vuitton's remarkable success in China clearly proves that only by understanding the "reasons" that promote luxury goods purchase behavior can luxury goods companies get new ideas on brand building, touch the emotional needs of the target market and sell more products.

Under the epidemic, the process of luxury brands embracing youthfulness and digitalization has been accelerated.Recently, LV has made a new live broadcast in China. It is said that this is the first show of LV Internet live broadcast, but the effect is not satisfactory.

LV live broadcast has no more than two purposes. One is to aim at the target consumer groups and stimulate young consumers to buy in the form of live broadcast with goods. In addition, it is to do mass communication, convey the sense of brand superiority, and enhance the awareness of exposure and new products. The LV live broadcast chose a community platform where young people gather. 

The audience tonality of the whole platform group is in line with youthfulness, but the brand has neglected in-depth insight into sub-groups and goal matching, and the most important thing is the maintenance of brand image. Thus, the rollover scene is: the style of fast-moving live broadcast with goods, giving people a feeling of very low price, promoting sales, and causing the target consumers to vomit. At the same time, the onlookers didn't see how advanced the brand was, which greatly reduced the public's perception of the image of brand luxury.

No luxury brand can escape the epidemic abuse, except for the 166-year-old LV with digital anti-aging.

LVMH Group's annual revenue in 2019 reached 53.67 billion euros (about 410.2 billion yuan), a year-on-year increase of 15%; The net profit reached 7.171 billion euros (about 54.8 billion yuan), a year-on-year increase of 13%. Behind the growth of LV, luxury goods are eager to try and hesitate. LV has been reformed too thoroughly, and the whole brand has taken on a new look-you can't see that it is a 166-year-old luxury brand! Young people love LV very much now.

To sum up, there are three main ways for LV to become younger and make money:

1. Younger brand IP

The new generation likes X brand gene, and chooses the things that the new generation likes to completely reform the brand itself from the aspects of design and image, and rejuvenate the brand by 360 degrees;

2. Younger marketing channels

Social platform X brand, from offline to online, carries out global operation on social platforms that young people like, and uses social platforms as user contacts to directly/repeatedly reach and talk to consumers;

3. Younger digital cores

Data accumulation, online and offline access; Digital technology, from internal management to products, is all digitized.

How to operate specifically, how to "dare", the following are the secrets of LV rejuvenation-

From product to spokesperson, LV who knows the young market has earned a lot of money. In 2017, LV, which has always been on the top, and Supreme, a street boy who hangs "Fxxk" on his lips, launched a joint cooperation fund, and all kinds of social platforms are spreading wildly, whether it is Instagram abroad, Facebook or WeChat in China, which are overwhelming discussions.

When the next year's annual report was released, LV showed a 23% increase, and LVMH attributed this credit directly to Supreme. Apart from the luxury price, there is no "steady" street trend of luxury goods, which is really fragrant.

Since then, LV has started to use new marketing methods and more radical marketing methods to transmit LV-style DNA, in order to gain a larger market and attract the attention of young consumers-

•DJ drop the beat, product rejuvenation helps LV to climb the throne of the trend.

LV's classic is unmatched, but no one can match the trend, from the game field to the street fashion brand, and it is sold out when it is on sale.

In the cross-border and cross-dimensional game field, LV and League of Legends jointly released skin, "I didn't think my first LV was (game) skin." ——

Game? Tide brand? Is this what a 166-year-old world-class luxury should do? LV's answer is-yes, it must be done.

This is LV's long-term plan to catch "big fish"-the young users of the new generation (here, the Y generation 1980-1995 and the Z generation 1995-2002).

The younger ways such as games and fashion cards are the bridges built by LV and these new generation of young people (that is, the next major consumption power).

Does the current LV look like an "old brand" with a history of 166 years? If you play social media so well, you can come and go freely between data. I can't think of the fact that it was born in 1854. It's quite like the current Internet company, fun and interesting LV, which I love more and more. Elva Hsiao's boyfriend can always be young, so can LV, and he can stand up for so many years. Is this also due to his strong learning ability?