Louis Vuitton Japan Essay Example | Topics and Well Written Essays - 1000 words

Louis Vuitton Japan - Essay Example A research by Japan Market Resource Network (JMRN) indicated that many Japanese consumers love a sense of uniqueness. Therefore, most adult and single women do not buy brands that are common with other people (5-6). In the case of Louis Vuitton, the aspect of individualism of the Japanese resulted in considerable adverse results since this company did not embrace that in its brands. The CEO of Louis Vuitton in Japan once claimed that 44 per cent of women in Japan own a Louis Vuitton bag, without the inclusion of other accessories from Louis Vuitton. Considering the level of individualism in Japan, the JMRN research showed that this kind of high penetration might have a negative impact on the Japanese market. An interview with different Japanese women showed that the high visibility and penetration of luxury brands results in the decrease of it aspirational value, thereby evoking unresponsiveness in the market (7). The JMRN’s research identified Botega Veneta, an Italian luxury company as one that is capable of succeeding in the Japanese market due to its responsiveness in addressing the need of Japanese consumers for unique brands. Japanese consumers therefore have claimed that the high penetration and visibility brands of LV, Polo, and Prada, are not worth their premium prices. Nonetheless, this market dilution of LV did not rhyme with the Japanese individualistic nature (8). According to Husband and Chadha, the Japanese and other Asians adore luxury products of European origins and not Asian (96). The local fashion designers in Japan have no influence in the fashion industry. Nearly all the Japanese shop their luxe from the foreign fashion companies such as... The Japanese market was the greatest buyer of Louis Vuitton luxury products during its golden age. This was influenced by the Japanese value of quality and taste. Louis Vuitton is known to produce high-quality products, an aspect that the Japanese were drawn to. However, things changed when Japan was hit by an economic recession, which lasted for quite long. Louis Vuitton could not make the vast sales it made before the recession as most Japanese consumers had changed their perspectives on different aspects of luxury products. Nonetheless, Louis Vuitto greatly contributed to the changes witnessed in the Japanese market, since it had a big influence, being the world’s biggest luxury company. The high penetration and visibility of Louis Vuitto did not measure up to the market demands of the Japanese, as they were a highly individualistic society, which embraced uniqueness. This led them to think that shopping for Louis Vuitton was a waste of their money, and hence, resulted in the change of buying patterns in the Japanese market as people looked for brands that would satisfy their needs. Similarly, this high penetration and visibility of Louis Vuitton led to the further decline of local luxury brands. This resulted in the production of counterfeit Louis Vuitton products in the Japanese market in order to compete with the Louis Vuitton brand. The Japanese were compelled to compromise their value for quality, as it was hard to distinguish between the real and the fake brands of Louis Vuitton.