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LVMH: Diversification strategy into luxury goods LVMH: Diversification Strategy into Luxury Goods Strategic Issues By 2002, Moet Hennessy Louis Vuitton was the world's
LVMH Strategic Issues By 2002, Moet Hennessy Louis Vuitton was the world's largest luxury products company, enjoying annual sales of 12.2 billion euros. LVMH carries
LVMH strategic analysis Challenge statement: "Despite worldwide softness in the sale of luxury goods, LVMH has cemented its position as the world's largest and most
LVMH: Expanding Brand Dominace in Asia 1. Country specific advantages are the advantages which can be captured by any producer in that particular country. For LVMH,
LVMH Impressions of the world wide operations of LVMH are high for the company. In order for a company to remain on top in the luxury good industry, specific strategies
Submitted by jheath22 on August 12, 2007
Category: Business
Words: 626 | Pages: 3
Views: 510
Popularity Rank: 22,441
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Impressions of the world wide operations of LVMH are high for the company. In order for a company to remain on top in the luxury good industry, specific strategies have to be implemented with success. Given their success rate, LVMH are implementing those types of strategies. Their ability to maintain their customer loyalty for such high priced items says a lot of the quality and customer service provided. LVMH's ability to recognize new and emerging global markets, such as China and India, and turn profits means that the company can adapt to cultural needs of those consumers. LVMH is not afraid to close under-performing stores in order to cut costs and boost sales in their other stores. This strategy has many risks but with great rewards if executed properly. In LVMH's case, they have succeeded in this process.
SWOT Analysis
Strengths:
Customer loyalty
Product demand
Global market share
Many lines of revenue
High quality products and distribution practices
Top company in respective industries
Weaknesses:
Decline in DFS (duty-free shops)
Underperforming stores
Lack of name recognition for some products
Competing products within company
Opportunities:
New global markets (Asia, India)
Stronger recognition of other brands besides Louis Vuitton
Stronger global presence
Greater placement of stores
Acquiring new companies
New distribution channels
Threats:
Imitation goods
Change in consumer needs/demands/taste
Recessions
Competitors
Does LVMH have a competitive advantage and/or competitive strategy? Absolutely it does which focuses on luxury goods and desire for their customers to own these goods out of envy. With all the brands under the LVMH umbrella, they are all considered luxury goods and have a significantly higher...
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