, China
Source: picjumbocom (Pexels)

Could Louis Vuitton be transitioning from luxury to lifestyle?

The brand recently opened its first restaurant “The Hall by Lousi Vuitton.”

LVMH Moët Hennessy Louis Vuitton (LVMH) recently launched its first restaurant “The Hall by Louis Vuitton,” which GlobalData sees as a move to becoming a lifestyle brand. 

“Through this strategic move, LMVH looks to evolve itself from a luxury goods brand to a lifestyle brand,” Bobby Verghese, Consumer Analyst at GlobalData, said. 

LVMH offers luxury products across categories, such as skincare, fragrances, make-up, and male toiletries in China under the brands Bvlgari, Dior, Givenchy, Guerlain, Kenzo, Benefit, and Makeup Forever. 

Read more: LVMH posts 23% profit growth amidst CN business disruptions

The Chinese cosmetics market is a pillar for LMVH, which contributed $998.5 million in value sales in 2021, up from $895.1 million in 2020. The opening of “The Hall by Louis Vuitton” is expected to bring China’s full-service restaurant market to $719.8b by 2026 from an estimated $558.1b in 2022.

LVMH opened the restaurant at the Sino-Ocean Taikoo Li mall in Chengdu in the Sichuan province in China. 

“This is unsurprising as the rising consumer purchasing power of Chengdu is attracting luxury brands to the ‘tier 1’ city,” Verghese said.

According to GlobalData, Chengdu’s real GDP per-capita real GDP are estimated to be $129.3b and $7.9m in 2022, respectively. Chengdu is also a fast-emerging economic powerhouse.

 

Follow the link for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

BNPL regulations toughen debt prevention and financial literacy in APAC
The Philippines, Vietnam, and Indonesia are more vulnerable to the risks of credit products, Euromonitor International reported.
CONCEPT WATCH: Eatology cooks up a ‘halfway diet’ for Hong Kongers
The flexitarian meal plan is for consumers looking to reduce their consumption of animal-based products.