The success of louis vuitton LV in Japan

Rian
 Firmansyah
 Syafruddin
 

 

Executive Summary
The purpose of this individual paper is to examine the success of Louis Vuitton (LV)
in Japan, and identify the current phenomena in the market. Luxury is a business
model of LV in accelerating Japanese consumers. It is followed by great execution of
marketing principles in term of Product, Distribution, Promotion, and Price. However,
the modern life of consumers has created change in their behavior. It has become a
serious issue that challenges LV’s success in the future. In constructing this paper, a
review of relevant journal, newspaper, academic publications, and online resources
were used. Consumer behavior change is identified as a significant influence that
challenges future performance of LV in the market. LV must seriously think on how
to strategically maintain its competitive advantages in the market. This paper
recommends LV to enhance its luxury existence in the heart of potential customers. It
can be done through extensively enhancing customer relationship, and the main
concept that should be implement is strategic alignment between its current marketing
programs and Research & Design functions to support high quality production, which
accommodate consumers’ expectations.

 
 
 

 

 

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 Firmansyah
 Syafruddin
 

 

Table of Contents
EXECUTIVE SUMMARY………………………………………………………………………....i
 
1.Introduction
 .....................................................................................................................
 1
 
2.Business
 model
 strategy:
 Luxury
 as
 a
 business
 model
 .....................................
 2

 
3.
 Marketing
 Principles
 of
 Louis
 Vuitton:
 A
 luxury
 brand
 strategy
 ..................
 3
 
4.
 Change
 in
 consumer
 behavior
 toward
 luxury
 goods
 ........................................
 5
 
4.1 Economic Crisis .................................................................................................. 5
4.3 Individuality factor ............................................................................................ 6
5.
 Maintaining
 competitive

 advantages
 .....................................................................
 7
 
5.1 The expected characteristic of luxury brands ................................................. 8
5.2 Enhancing Customer satisfaction ..................................................................... 8
6.
 Conclusion
 ....................................................................................................................
 10
 
7.
 References
 ....................................................................................................................
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1.Introduction
Louis Vuitton Malletier, often referred as Louis Vuitton (LV) is a French fashion
house founded in 1854 by Louis Vuitton. LV mostly famous for its craftwork leather
bags and trunks. It also known as Louis Vuitton Moet Hennessy (LVMH) after
merger with leading manufacturers of champagne and brandy Moet et Chandon and
Hennessy in 1987. LV is one of the world most valuable luxury brands for a seventh
consecutive year, which worth $25.9 billion, and quality craftsmanship, heritage, and
history are key factors of success for luxury brand. The LV brand and the famous LV
monogram are also among the most valuable brand that creates competitive
advantages.
Japanese consumers are among the world’s biggest consumers of luxury product
(Salsberg 2009). LV is extremely popular brand with fashion conscious Japanese
consumers. Japan Market Resource Network (2007) in its consumer survey has stated
LV in the first place among the Top 10 luxury brand popular in Japan. In central
Tokyo areas like Omotesando, Shibuya, and Shinjuku is very easy to find several girls
carrying the LV bags, wallets, and others accessories. Moreover, 44% of Japanese
women own LV bag (Howard et al 2007). It shows the huge market share of LV in
Japanese market. Japan is the most essential market for LV and had become the most
concentrated source of revenue for luxury brands.
The rise of LV in Japan is not a coincidence but rather it is achieved through
extensive strategic approaches. LV has successfully grasped their potential consumers
in term of attitude, mindset, and behavior. Respectively, well managed business
model, brand image, and marketing strategy has profoundly influenced the success of
LV in Japan. However, there is no conformity for business to success in today fierce
competition. Especially, when it deals with consumer dynamism, where their attitude
and mindset is changing. Luxury business must realize how this current phenomenon
drives change for luxury product demand. Dependence on traditional luxury strategy
has worked well in the past, but it will challenge long-term success of luxury
manufacturer (Salsberg 2009). Thus, LV must be able to use its existing marketing
strategy approach to accommodate dynamic consumer and maintain competitive

advantages. It can be done trough sophisticatedly aligning its marketing program with
Research & Design department. This tactic is expected to maintain LV competitive

 

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advantages and long run sustainability in Japanese market as well as to compete with
other competitors in the market.
2.Business model strategy: Luxury as a business model
Accelerating globalization has created fast changing retail environment, increasing
global competition, and higher consumer expectation. It is a good signal for
businesses to internationally expand their products. Japanese people attitude toward
foreign product is very different. They normally expect European product to be
exclusive, luxurious, and prestigious. According to Nagashima (1970) in his research,
Japanese people are characterizing “made in France” product as exclusive, hand
made, and luxurious.
Japanese consumers are very concern to the uniqueness of the product. The
uniqueness of the product that they seek must avoid similarity (Knight & Kim 2005).
Japanese consumers expect European luxurious image and lifestyle from purchasing
LV’s product. Japanese fashion market has very unique features compare to other
countries. Japanese are very sensitive to trend cycles in the international fashion

market. Social function of self-expression and self-presentation also become main
consideration for choosing luxury brands due to hedonic rewards given by a luxury
product (Ko & Megehee 2012). In short, Japanese consumers are very luxury, and
this is the reason why luxury product is highly demanded in the market.
As a pillar of its strength and profitability, LV has chosen luxury as its business
model in Japan expansion. Luxury is a business model that basically implemented by
luxury brands that dominate worldwide such as Louis Vuitton, Gucci, Channel,
Hermes, and Rolex (Kapferer 2012). The luxury business model of LV in japan is
reflected by its strict principles in maintaining the uniqueness of its product. Bernard
Arnault, the CEO of LVMH said, “luxury is the only sector that can provide luxurious
margins” (Kapferer & Tabatoni, 2011, p. 1). Luxury is significantly directed all their
strategies in gaining high market share in Japanese market. It plays such an important
role as a key word in marketing products. To deliberately transmitting the idea of
Luxury product, LV has constructed sophisticated strategy in order to gain
competitive advantages in the Japanese market. Marketing principles implemented by
LV is the essential factor that contributes to LV success in japan.

 

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3. Marketing Principles of Louis Vuitton: A luxury brand strategy

Marketing principles adopted by LV is an important part to analyze in order to
understand their success in Japanese market. Louis Vuitton is different because LV
consistently focuses on product, distribution, communication, and pricing. Through its
marketing efforts, LV has successfully delivered uncompromising quality, operational
excellence, and continuous innovation of its products. The marketing principles
implemented by LV known as typical luxury brand marketing, which are quite
distinctive from conventional marketing principles (Nagasawa 2009). LV realized that
the brand and its image are the key competitive advantages that create great value for
organization. Therefore, the ultimate goal of marketing approaches is to develop
strong brand and images as a luxury product. The principle of marketing strategy of
LV can be evaluated via its Product, Price, Place, and Promotion analysis, commonly
known as Four Ps analysis.
In term of product offered, LV mainly focuses on distinguished quality. High quality
product is extremely a must factor for LV. It is very different to usual marketing
strategy where implementation of adequate product quality is commonly practiced.
For LV the concept of absolute quality is more important, rather than just provide the
customers with relative quality (Nagasawa 2008). Moreover, Nagasawa (2009) in
another journal highlighted several principles for LV’s product, which some of them
are principle of eliminating counterfeiting, principle of ignoring the demand of
majority, and principle of prohibiting licensing. This absolute quality of product is the
main reason for LV to set up premium price of the product. Also, to maintain their
image, product quality is a basic requirement for consumer to recognize their brand
value. Therefore, LV maintains their high quality product and most of them were
manufactured in France to maintain its value and quality.
Second evaluation is according to the price. Generally, market demand of the product
is low price, which can be achieved by reducing cost of production or off shoring to
potential places. As discussed early, the principle of LV product is absolute quality,
not price, thus the effort to create this absolute value is very crucial. Prohibiting
bargaining sales, giving prestige price, and avoid to give discount are the principles
implemented by LV in Japan (Nagasawa 2009). As a luxury brand, LV realized that

 

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they must engage in premium pricing strategy with uncompromising quality, and few
discounts and mark down (Keller 2008).
Third is the place, also known as distribution strategy. Control over their product is
the key for LV in maintaining high quality product as well as service. By only selling
their product in a few original stores, LV easily control their marketing process.
Choosing the right distribution channel is essential for luxury brands like LV. Keller
(2009) insisted that for luxury carefully control distribution via selective channel
strategy is an obligation. Therefore, limited distribution channel is implemented in
Japan to easily control the overall processes. The strategic stores located in the
prestigious sites are part of the globalization process, and how to internationalize
brand and image of the product (Fernie et al. 1997). In fact, in September 2002, LV
opened it first integrated building named largest flagship store in the world in
Ometesando.
And lastly is promotion strategy of LV. It is not common to see LV advertisement on
TV or another mass media channel. The reason behind this is according to LV
philosophy that information in detail to customer is main consideration. Thus, the

most common advertising medium used by LV is print mass media like fashion
magazines and catalogue.
The appropriate business model as well as incredible marketing strategy of LV has
resulted in its massive success toward Japanese market. LV has successfully attracted
Japanese consumers’ heart. This success has created such a powerful brand and image
of the company, and developed strong competitive advantages in the market.
However, there is no guarantee for any well-established brand to maintain its success
in the future. Change in the market especially according to change in consumer
attitude and mindset could be a serious challenge for business in current business
environment. Also, intensive threat from new players in fashion industry could be
serious challenge to LV. The lack response interm of strategy to anticipate future
potential threat will lead to the loss of brand prestige. Nagasawa and Sugitomo (2009)
agreed that running a business based on brand is very risky in the condition of rapid
change and intense competition.


 

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4. Change in consumer behavior toward luxury goods
Japan’s passion for luxury product actually began in the 1970s, where majority of

consumers believes that European products were higher quality, more durable, and
exclusive. As explained by Nagashima (1970), European products especially “made
in France” product expected to be exclusive, luxurious, and have the story behind it.
This perception strongly related to the emotional and social connection with
possessing luxury brands. Thus, owning expensive European brand showed the
success and social acceptance. Additionally, unlike the luxury product in other
countries, in Japan luxury product has long been seen as an integral part of middleclass life (Alderman 2011).
However, the situation is different now. Globalization in the fashion as well as luxury
industry has given the easy access for consumers to gain a lot of information
according to the current condition. As a result, it creates easy access to the variety of
product with less expensive price and tendency to be more sophisticated in buying
product (Fernie & Azuma 2004). There are some determinant factors of consumer
behavior change toward luxury products.

4.1 Economic Crisis
Current economic crisis has shifted the purchasing habit and consumption of
consumers. According to Salsberg (2009), the current crisis has fundamentally
accelerated vital shifts in consumers’ attitude and behavior. In addition, this situation
decreases the confidence of buying luxury product. The weak economy and the steady
appreciation of Euro against Yen has affect consumer purchasing power and
diminished demand. As a result, Luxury industry also predicted to be infected (The
Economist 18 September 2008). Also the devastating earthquake, tsunami and nuclear
disaster have significant impact to the economy and consumers’ life priorities. These
incidents have changed people mind and attitude to purchase (Alderman 2011).
4.2 The greater number of Alternative product options in the market
Rapid increase in number of luxury and imported brand as new player in the market
has become a threat to the old player of luxury product such as LV. Sweden’s H&M,
Spain’s Zara, Italy’s Diesel, and also local brand like Uniqlo are apparently getting

 

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serious attention from potential customer. These businesses are ready to hijack the
current loyal customers of Luxury brand. They are providing current fashion, trendy,
and relatively inexpensive in price. Zara is the most outstanding threat for LV in
today global market, especially in Japan. Over past five years, Zara’s revenue has
grown by an average of 27% a year since 1998 (The Economist 17 May 2001). The
success of close competitors is not a good sign for LV. LV must quickly response to
this current phenomenon.

4.3 Individuality factor
As evidence, Japanese women are much more confident about their own style, they
are more independent. Globalization has profound influence in constructing their
confidence. They are really concern to the current fashion in the market. They are
beginning to mix the expensive and less expensive product and try to find variety
range of channel. Japan Market Resource Network (JMRN) insisted that only 20%
consumers agreed that possessing luxury brand expresses their success and social
status (Salsberg 2009). As the consumers have already had high level of confidence,
they no longer need the luxury product. Thus, it will become a challenge to industry
marketing in order to maintain their loyal customers since they no longer think that

luxury brand could give them extra confidence.
The global financial crisis followed by increasing number of competitor in the market
affects the consumer mindset and the behavior. The most important key consideration,
which proves to major obstacle in achieving the goals, is high priced products offered
by Louis Vuitton that could be easily attacked by competitors. The consumers are
very flexible in lifestyle, their taste, and preferences. They tend to be very educated,
high access to Internet to gain information, and eager to shop (Morton 2002). People
are often delaying to purchase because they are very concern to their priority. In fact,
60% of the luxury market is now based on demand from aspirational customers,
where they really well educated and concern about their expenditure in shopping (The
Economist 17 September 2009). However, these current phenomena are not
impossible to manage. The perception that everything will return to normal is not
appropriate in high globalization world. Marketer should understand this change and


 

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taking strategic actions to adapt with this situation. It is very important to note that
attract and maintain loyal customer is not an easy approach.
5. Maintaining competitive advantages

Great luxury business model as well as brilliant execution of the marketing strategy in
the market is the main focus of LV in gaining wonderful market share in Japan. Four
main elements to business model, which are product, distribution, communication and
price has become strength of LV. They really focus more on the first three, so that
people will forget about the last one (The Economist 17 september 2009). As a result,
they become one of the world’s largest luxury-firm as discussed early.
However, everything is different now. Based on McKinsey Tokyo, in March 2009,
the survey from 1500 Japanese luxury consumers and some interviews with CEO and
other senior offices. It found that the shift in Japanese consumer behavior in term of
attitude and mindset would be long-lasting (Salsberg 2009). It means that the
practitioners in luxury industry must prepare appropriate strategic approach toward
this phenomenon. Again, they have to preempt the current competitors such as Zara to
gain and maintain their competitive advantages in the market. Moreover, only relying
on brand might be very uncertain under the situation of rapid change and fierce
competition, where change in market especially according to economic crisis and
change in trend influence brand image (Nagasawa & Sugitomo 2009).
To gain competitive advantages in the market, LV has to encourage and convince the
consumers that LV is the real luxury product and ready to give them uncompromising
quality and value. Quality and image of the product remain vital, but it must be
supplemented by functional and extraordinary value (Reid 2007). The reality now in
the market is there is no boundary between fashion market and luxury market. Thus,
the consumers of this two different market are mixed. Luxury brands including LV
have lost their shine in the mind of their current loyal customers. At the same time,
fashion industry players are ready to takeover the market. Therefore, LV must first
underline and maintain its shine by ensuring that the characteristic of luxury brand in
their product is existed. This can be done through enhancing customer connection,
thus great coordination and integration between marketing and research and design


 

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(R&D) is highly needed to achieve the main goal of firm, which is customer
satisfaction.
5.1 The expected characteristic of luxury brands
Shifting consumer behavior has resulted in the high expectation for current luxury
brand in the market. Keller (2009) insisted several ideas according to characteristic of
Luxury brands in the consumer perspectives. Maintaining premium image, and strong
priority in controlling that image, and strong brand attributes behind their brand name
are the relevant characteristics that must be proven by LV to their targeted consumers.
Moreover, timeless, modern, fast growing, and highly profitable are also the main
characteristic for brand to be success in the market. Luxury product must produce
extraordinary luxury product, services, and event to keep their loyal customers and
make us willing to pay more (Amaldos and Jain 2008).
5.2 Enhancing Customer satisfaction
Luxury means treating all clients as VIPs. Basic goal of luxury product is to develop
pricing power. Creating consumer to become price insensitive. And finally they are
becoming fans of the brand. These were traditional approach of building customer
relationship with the brands. Today, long-term commitment from current customers is
crucial. How long they are willing to pay for product is strictly related to how luxury
product can prove that they are deserved to be luxury. Current customer play very

important role as the reference to the current trend in the market, thus they are
representative of other potential customers in the market (Kapferer 2012). Being
customer oriented Business model and marketing principle execution of LV has long
been known as fantastic approach in the Japanese market. Still, there is no evidence
that LV has already had great connection and integration between marketing, R&D,
and production fucntions within their company. This is the most important element of
enhancing customer satisfaction in the market. a major barrier to success is the failure
of organization in critically linking the function within organization and between
company and its customers (Craig 1990). Thus, LV should exploit its current
marketing performance to gain customer information and link it with other
organizational function to boost performance.


 

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5.3 Strategic alignment between marketing and R&D
Change in consumer behavior in term of their mindset and attitudes significantly
influences purchasing behavior and create uncertainty in the market. Contemporary
luxury brands are putting so much attention on marketing their product. LV is the
exact example where marketing principles are outstandingly success to reach high

market share. The strengths of marketing concept are very important to the luxury
product as a unique knowledge. However, the winner in the market is the one who has
capability of knowledge integration. Firm that integrates special knowledge are
fundamental to their ability to create and sustain competitive advantages (Grant
1996). Production of the innovative product needs wide array of knowledge.
Marketing and R&D play such an important role in providing knowledge to produce a
product to satisfy consumers taste and preferences.

Global success needs a

collaboration of all organizational functions in gaining potential target market. Zara is
an obvious example on how they successfully integrated business model design, just
in time production, and marketing sales (The Economist 17 may 2001). Zara is taking
advantages of rival’s weakness to grab market share.
To adapt current phenomena LV must strategically think on how to align their
strengths in current marketing approach with their design function in order to come up
with extraordinary performance in term of product and service offers that promise
high customer satisfaction. Functional alignment is the strategic approach that should
be implemented in integrating and cooperating marketing strengths and R&D of LV
to support manufacturing process. It is a coordination that shows interdependency and
information sharing between various organizational unit functions (Song et al. 1997).
Marketers in LV must be very sensitive to the customers. Being close to the customer
must be a basic orientation to gain useful information according to their preferences
(Christopher et al. 2004).
Also, quickly response to the information is important role in this process. Quick
response provides the ability for the firm to gain demand information from its
customers. Thus, this information is very important for designing the product based
on customers’ preferences. Effective recording information from consumers result in
improvement of new product and services offers to customers (Sherman et al 2005).
Additionally, this collaboration in developing customer-based product initiated high

 

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level of consumer involvement, where it shows high level of appreciation to loyal
consumers. This consumer’s involvements enrich firm’s ability to understand market
demands (Etgar 2008).
Ultimately, this strategic alignment is purposed to help LV in ensuring product and
service offer is based on what customers want, the cost of development are kept in
check, and time to market is minimized (Shilling & Hill 1998). The strength of its
marketing and R&D process, which currently independently operated, will become a
new competitive advantage for LV if they strategically align and interdependently
implemented. Shared information across the function, flexibility in using expert
(design and marketing), and high level of process alignment, are characteristic of
successful combination of Marketing and R&D to create fantastic market
performance.
6. Conclusion
As one of the world most valuable luxury brands for a seventh consecutive year,
Japan is the most vital market for LV and had become the most concentrated source
of revenue for luxury brands. LV has chosen luxury as its business model in Japan
expansion. The current phenomenon of globalization in the luxury industry has given

the easy access for consumers, thus it result in consumer behavior change toward
luxury products. The determinant factors of this change are economic crisis, more
alternative option in the market, and individuality factors, where Japanese women are
much more confident about their own style without high dependency to luxury
product. This change in consumer behavior of course will become serious challenge
for LV to gain higher market share in the future. Thus, strategic approach to maintain
its competitive advantages in order to achieve long-term success is needed. LV must
ensure and convince its loyal customers that their product is the real luxury product,
which appropriate for premium price. The practical implication to realize this is
through enhancing customer satisfaction, and the most important thing is aligning
their marketing principle function with R&D in order to support production
department. Then, LV product could exactly satisfying consumers’ expectation. And
they can remain competitive in today fierce competition.


 

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7. References
Alderman, L 2011, ‘Japanese Lose Their Appetite for Luxury’, The New York Times,
25 March, viewed 25 September 2012,

>
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Grant, RM 1996, ‘Prospering in Dynamically-competitive Environments:
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Howard, D, Nomoto, M, Yamaguchi, T & Kopf, C 2007, ‘Japan’s changing
consumer: drivers of change for luxury brands’, Japan Market Resources
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Kapferer, JN 2012, ‘Abundant rarity: The key to luxury growth’, Business Horizons,
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<mkqpreview1.qdweb.net/Japans_luxury_shoppers_move_on_2430>

 

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