Louis Vuitton is betting on pop-up stores and new menswear lines.
Louis Vuitton, which provides the bulk of sales and profits for French conglomerate LVMH, opened 80 temporary stores last year. In the same, 100 are already planned. While the usual Louis Vuitton stores located exclusively in prestigious areas, temporary ones can sometimes open in the most unusual places. And, as practice shows, this is a great way to attract new customers and a noticeable increase in sales. By the way, recently LVMH published another financial report, which showed figures that exceeded analysts' forecasts. The growth rates of sales of men's and women's clothing turned out to be at a very high level. At the same time, clothing accounts for only about 5% of the brand's sales, and three-quarters of the revenue comes from exclusive bags.
Jean-Jacques Guiony, chief financial officer of the conglomerate, told reporters, “The pop-up store trend is extremely important and we will continue to develop it because it allows us to talk to our customers in a different way and it adds flexibility to our networks". All of these moves are being made as part of a reshaping of the chain, experimenting with luxury brands to attract younger buyers who are increasingly driving sales growth in a sector long known for being tough in their approach.
Temporary stores are a great way to draw attention to a brand's products. Unexpectedly appearing in various areas and often having a very unusual design, they inevitably attract the attention of young people (and not only them). For example, one of Louis Vuitton's last temporary stores was opened in London's exclusive Mayfair and is decorated in the style of the Wizard of Oz with a staircase stylized as a yellow brick road. Interestingly, in order to visit the outlet, customers needed to purchase tickets. This store was created to promote a new line of menswear.
Of course, against the backdrop of the entire business of Louis Vuitton, the opening of such stores is just a drop in the ocean. However, they are the ones that are able to attract additional attention to the brand (including from the media) and allow you to sell more accessories.
