LOIUS VUITTON’S

Production matters a lot in companies which desire their products to sale with an exclusive price and add a cost in attaining the very best in terms of getting the precise finest of all in terms of qualities. The problem of operation, inventory management, and product improvement has been a problem for the luxury product industry with Louis Vuitton being of no exemption (Williams, 2014). When dealing with luxury items one has to consider the proliferation of dilution of the product itself, the more the product is concentrated in the market the lesser it is considered luxury. Since with the product diluted in the public the lesser the demand and worth it will be the praiseworthiness will start dropping drastically. Louis Vuitton as much is trying to expand the production in response to market demands; it should also consider only making a few numbers of editions with exquisite quality and by doing so the value will be maintained. The history of  how Louis Vuitton Moët Hennessy (LVMH) came to existence dates to many years back which since then, devotion has been ultimate decider in terms of presentation and standing up competitors (Williams, 2014). Considerate ways of eliminating counterfeits have to start from the management bottom line whereby affirming with one of a kind with an exclusive signature which is familiar which loyal client has to be a dexterous step. LVMH first tried the introduction of designer and a bit stripped bags which it could not last long due to change of the technology and the advancement of the rival companies, on such scenarios it is up to the Louis Vuitton to consider a paradigm of shift swiftly. The question of labor should not be a big concern to worry about the management since it only cost a few overheads and the return is way better only if it is well planned. Competition is bound to happen in the market since the revolution of products changes as time goes, Coach, for instance, should be countered by introducing more sophisticated and unique line of products.

There is a serious competition in parts of East, Asia, for instance, has Coach which really looks like a fierce competitor even though they have not risen through the ranks Louis has undergone. The bags emanating from the rival manufactories is an eminent threat and should not be ignored lest dwindle down is on the horizon (Williams, 2014). LVMH should first have a laid down strategies and come with some of the best luxurious lines to counter the mare products which are far apart from the comfort and sophistication desired by the clientele base. At first, it will look like a rivalry involved in a tight fist but at the end of the day, it is all about competition and scramble for the market. Making the products accessible to the consumers is the best way to handle this but then again how about the compromise of quality, Europe is known for the finest and one of the top notch fabrics and materials which it has ended being rowdy and a thing of the common yet clients prefers uniqueness. Luxury is defined by the components and the retrogressive features with no exemption of quality. Diversification is the real deal here and it would not need any more factories addition, the game changer should arise from the management side of the firm.

 

Reference

Top of Form

Williams, C. (2014). Effective management: A multimedia approach.

Bottom of Form