Louis Vuitton, a design house known for their super luxurious designs, is upping the ante and headed for even bigger and better things – super-luxe.
Women’s Wear Daily is reporting that the leather goods brand has brought on designer Darren Spaziani, who has previously worked with brands such as Balenciaga, Marc Jacobs, and Proezen Schouler (as well as a short-stint at Louis Vuitton in the early 2000’s) to reface their accessories line, creating the most luxurious and high-end pieces possible.
We think it’s interesting that Louis Vuitton is planning to change their brand and go even higher-end, right as the brand faces unprecedented popularity… and that popularity may be the reason why. Ten years ago, having a Louis Vuitton bag meant that you had made it, or that you’d put yourself into serious credit card debt to have it. Now, though, it seems like every teenage girl in the suburbs is carrying a Speedy or Neverfull. And that isn’t something that works well in the luxury brand industry.
Coach faced a similar situation a few years ago; after their infamous “C” logo (one of the most frequently and easily knocked off logos around) began appearing in high school cafeterias everywhere – the brand made a decision to go back to their roots, focusing on high quality leather goods… in higher price ranges.
The higher price point meant that sales would be undoubtedly lower, but that the products would – once again – become objects that people coveted, not something that everyone could get their hands on with relative ease.
Just ask Apple. They did the same thing with their release of the iPhone 5s.
When they announced the release of the iPhone 5s and iPhone 5c, they also announced that the iPhone 5 would no longer be available in stores. Typically, Apple had lowered the prices of all previous existing models with the launch of a new phone, and many Apple fans were expecting that the iPhone 5 would drop down to around $99 (with a 2-year upgrade at their wireless carrier’s store, of course).
By releasing the iPhone 5c (which is essentially the exact same as the 5, but with a colored shell) as the $99 price-point phone, Apple made a statement: If you want an iPhone and the exclusivity that comes with it – you’ll need to pay top dollar. If you’re looking for an iPhone at a lower pricepoint, we’ll let people know it’s the lower priced version. Hence the moniker iPhone 5cheap.
Apple also didn’t allow pre-orders of the iPhone 5s, which means that if you were looking to get the phone on the day it came out, you’d need to profess your love for Apple by waiting in line at the store. Couldn’t make it to the store, well don’t expect to receive a phone until mid to late October, since the iPhone 5s – manufactured in limited quantity – sold out fairly quickly across the globe.
By making those small changes to their business model (no longer selling the previous model at a lower price point, and not allowing pre-orders) Apple got back to their exclusive roots – back to the days of the first iPhone release, when only the most trendy and uber-cool kids (… who had AT&T) had the privilege of owning the it phone.
It appears, then – using that logic – that Louis Vuitton is embarking on a similar strategy. By upping the quality and design of their goods, they will – in effect – up the price, which will prevent their products from becoming the latest and greatest trends in the suburbs, and relegating them to high society – or the upper-middle class, at the very least.
What do you think of this new trend of brands getting back to their exclusive roots?