Louis Vuitton Has Lost Its Luster Among China's Elite, So I Guess The Classic Bags Are Basic in Asia Now
Ugh, LV is so 2014. Well, at least in Asia. Racked is reporting that Louis Vuitton isn't as exclusive in China as it used to be, essentially saying that the brand has gone too mainstream for the liking of the country's upper class.
The iconic brand isn't exactly about to lose its foothold there — they're still the number one luxury brand in China, according to Racked — but people in the larger cities are beginning to turn their nose up at the classic print and style. Survey results showed that only 18.8 percent of residents in first-tier cities (like Beijing, Shanghai, Guangzhou, and Shenzhen) wanted to own something from the brand, as opposed to 38.3 percent in third-tier cities.
As the country's trendsetters (and money makers) give LV the cold shoulder, they're turning towards brands like Prada. In response to the data, Louis Vuitton's parent company, LVMH, is trying to remind people that not all of their bags are decorated with logos on every inch. They're also trying to increase the presence of some of their other brands in the area, like Celine and Fendi.
I guess most of us haven't gotten the memo over here, because last time I checked, Louis Vuitton is still very much a luxury brand stateside. But hey, I'm sure that we could create some closet space if you really want to get a few purses off your hands, China. Happy to help however we can.