1. How does an exclusive brand such as Louis Vuitton grow and stay fresh while retaining its cachet?
2. Is the counterfeiting of Louis Vuitton always a negative? Are there any circumstances where it can be seen has having some positive aspects?
An exclusive brand like Louis Vuitton can continue to grow while retaining its cachet by safeguarding its brand image in all advertisement and product associations. As mentioned in the case, the brand is over 150 years old so it must continue to change and develop to achieve freshness, however, at the same time it must retain its prestige and elitism. At first glance, the pricing would seem enough to make the brand exclusive, with prices for the smallest duffle bag starting at $750. At the same time, a brand must develop its personality to be appealing to purchasers. Louis Vuitton's recent campaigns linking the brand to champions like Diego Maradona, Muhammad Ali, Pele, and most recently, Michael Phelps, help to develop an appeal to the brand (Madden, 2012). The company has carefully chosen superstars that are respected and appealing. This campaign should be considered as a way to add star power to the brand while still showing that the bags are exclusive enough for the very best champions.
Another way to grow the brand, while increasing its cachet is to expand into home furnishings. Those mega-rich, logo crazed folks would also enjoy top leather products for their home. This would further cement the brand to the ultra rich and help keep the brand visible to all in the right class of trade.
Driving consumers to the company stores can be a great way to build the brand while keeping the ...
This detailed solution answers questions in case study regarding the Louis Vuitton brand including how the company can grow and stay relevant, and the effect of counterfeiting. APA references are included.