1. Louis Vuitton
Louis Vuitton has been synonymous with luxury and quality for more than 150 years. Since its founding in 1854, the brand has successfully dealt with plagiarists and created new trends while managing to maintain a very high quality product. It is a is a French fashion house and luxury goods company. Louis Vuitton is one of the world’s leading international fashion houses; it sells its products through standalone boutiques, lease departments in high-end department stores, and through the e-commerce section of its website.
Louis Vuitton was born in 1821 in a village in eastern France. In accordance with tradition, young Louis learned from childhood how to work wood with his father. At the age of less than fourteen, he went to Paris with the desire to become independent, but also a master of his craft. This great adventure turned out to be very useful for his life later, since along the way he learned, among other things, how to process beech and poplar, because his suitcases and coffins will be made of the finest wood. When he arrives in Paris, young craftsman found himself in the right place at the right time, since the conquest of the colonies was in full swing, Paris was developing rapidly and the industrial revolution was beginning. Why is this significant? Because Louis Vuitton will build his name on a lifestyle that includes luxury and adventure travel. He decided to open a workshop on his own, which he placed in the rue des Capucines 4. in the heart of Paris. He began to cover the poplar coffins with a waterproof gray cloth, better known as trianon. Coffins were usually equipped with compartments for hangers, jewelry, laundry, clothes, shoes, and the great success of such models is evidenced by the fact that even today something similar is in the catalog, in the regular offer. The business was expanding with great speed, and with great popularity, the problem of copyright protection arose. The founder and father of the fashion empire, Louis Vuitton, died in 1892. But the business continued to expand and develop and thus the number of plagiarists grew. The company tried to deal with the counterfeiters in court, but without success. As the geometric patterns were easy to copy, in 1896 a world-recognizable monogram was designed, a trademark of this luxury brand. Although patented, this pattern is probably the most copied monogram in the world. The rest of the Wheaton dynasty continued to innovate and constantly improve the brand. The lifestyle that included luxury travel could be afforded mainly by the elite and celebrities, and the wider recognition of the brand was greatly contributed by movie stars who gladly used and still use the luxury leather goods of the Louis Vuitton brand. Hollywood stars made the best advertisement for the brand. Some models, such as the cylindrical soft travel bag worn by the legendary Audrey Hepburn, have become a classic.
Louis Vuitton is the world’s most valuable luxury brand and is a division of LVMH. Its products include leather goods, handbags, trunks, shoes, watches, jewelry and accessories. Net worth of this company is $47,2B. Last year value change is +20%, brand revenue $20B. It is one of the most profitable brands in the world with profit margins north of 30%. CEO & chairman is Michael Burke.
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