The Power of Fancy [Louis Vuitton Case Study]

Louis Vuitton Means Fancy and you cannot deny it. They have leveraged the power of Fancy like no other company in this modern era. So, let's learn about that!

Louis Vuitton is one of the most expensive luxury brands in the world. Its cheapest product Pochette Chain mini Mylockme stands at a price of $1,180. It is a crossbody bag made of monogram canvas (Via Louis Vuitton). Yes, more than a thousand dollars for just a bag. Half of the world's population cannot even afford the stuff they are making. Yet they always manage to dominate the luxury brand market and increase their company’s revenue by more than 1.7X each year. How did they do that and How did the company go from selling little to nothing to making billions? Let’s learn all about that.

Now, you might think maybe this was not always the case with Louis Vuitton and yes you are right.

No, Louis Vuitton did not always start as a luxury brand. In fact, the company's initial days were quite humble. Louis Vuitton was founded in 1854 by 22-year-old Louis Vuitton, who was a trunk maker. At the time, trunks were a necessity for travellers, as they were used to store clothes and other belongings during long journeys. Vuitton's trunks were known for their durability and craftsmanship, and he quickly became a successful businessman.

In the early days, Vuitton's trunks were not considered to be luxury items. They were simply functional and practical. However, as Vuitton's business grew, he began to experiment with new materials and designs. He also started to cater to a more elite clientele, and his trunks began to be seen as status symbols.

By the early 20th century, Louis Vuitton was one of the most famous and successful luggage brands in the world. The company's products were no longer just functional, but they were also seen as works of art. Vuitton's trunks were often decorated with intricate designs, and they were made from the finest materials.

Let us see some memorable events in the past that made Louis Vuitton Famous:-

• In 1885, Vuitton introduced the Monogram canvas, which is still one of the most iconic patterns in the world.
• In 1901, Vuitton opened his first store in New York City.
• In 1924, Vuitton introduced the Keepall bag, which is one of the most popular handbags in the world.
• In 1959, Vuitton introduced the Speedy bag, which is another iconic handbag.
• In 1987, LVMH Moët Hennessy – Louis Vuitton acquired Louis Vuitton.

But wait! Changing some patterns and just opening a store in New York would not make you a billion-dollar company. Right?

You're right, simply changing some materials and opening a store in New York wouldn't have been enough to make Louis Vuitton the global powerhouse it is today. The company has used a variety of marketing techniques to reach its target audience and build brand awareness.

Here are some of the most effective marketing techniques that Louis Vuitton has used:

• Celebrity endorsements: Louis Vuitton has partnered with a wide range of celebrities to promote its products. These celebrities have included actors, musicians, athletes, and fashion icons. By associating its products with these celebrities, Louis Vuitton has been able to reach a wider audience and generate excitement for its products.
• Limited-edition collections: Louis Vuitton has released a number of limited-edition collections over the years. These collections are often designed by famous artists or designers, and they are only available for a limited time. By creating a sense of exclusivity, Louis Vuitton has been able to drive up demand for its products.
• Experiential marketing: Louis Vuitton has created a number of experiential marketing events to promote its products. These events have included pop-up stores, fashion shows, and concerts. By creating immersive experiences, Louis Vuitton has been able to connect with its target audience on a deeper level.
• Social media: Louis Vuitton has a large following on social media platforms like Instagram, Facebook, and Twitter. The company uses these platforms to promote its products and connect with its target audience. By using social media, Louis Vuitton has been able to reach a global audience and generate buzz for its products.

These are just a few of the marketing techniques that Louis Vuitton has used to become one of the most successful luxury brands in the world. The company's marketing strategy is constantly evolving, but it always focuses on creating a sense of exclusivity and desirability for its products.

Marketing is one of the core reasons why they get so popular around the world. If you don't believe me, Let me show you their revenue stats from the past few years.

Conclusion

While writing and drafting this case study I came across different reasons why a brand should be online and thriving with online advertisements. I also came to know that your connections will show how much of a big impact you are going to create with your business. The Power of Fancy will only work if you are able to create a brand that is associated with powerful people who are idolized by the mass of individuals.