LVMH Luxury Goods US And Chinese People Like To Buy

Lovata Andrean

Klaten Shoe Store Goes International in Export Program 1
Klaten Shoe Store Goes International in Export Program 1 – US and Chinese people like to buy LVMH luxury goods. Luxury goods distribution group LVMH is close to making a comeback. The French company reports that marketing is increasing again in a tense manner.

With the introduction of Reuters on Wednesday (14 April 2021), marketing of LVMH products such as Louis Vuitton and Dior again increased due to significant demand for handbag products. The increase in demand came from Chinese and US consumers who took advantage of the relaxation of pandemic restrictions.

LVMH and other luxury goods companies initially suffered from various international tourism shutdown regulations. The existing crisis increases anxiety that customers will lose purchasing power and desire for quality goods.

LVMH is the largest company in the industry and owns more than 70 global brands, from Moët and Chandon champagne to cosmetics. Guerlain. On Tuesday, the company provided a performance report finance which is better than several years before the outbreak.

LVMH US People's Luxury Goods

Marketing of the jewelry business under LVMH, Tiffany, increased 30% from year to year to 14 billion euros, or $ 16.70 billion, in the first quarter of 2021. This figure is 2x the prediction of 17%'s development deal research.

Marketing in Asia excluding Japan rose 86% year on year, and marketing in the US, which started a major stimulant program, rose 23%. In Europe, however, marketing is down 9%.

In most parts of Asia, the LVMH chain has been open since last spring. Luxury goods customers, for example, buy Vuitton products online. Even according to LVMH, online marketing is still a small factor in its overall business.

And there are also those who generally prefer to buy exclusive goods via e-commerce or what is called electronic commerce. This is what then drives several popular brands into online marketing.

Apart from that, there are also those who hold virtual events with unique ideas to interact directly with consumers. Opening branches is one tactic to increase marketing. “Nothing can replace a store visit,” said CFO Jean-Jacques Guiony.


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