This report aims at devising a strategically powerful brand strategy for the Louis Vuitton with a strong competitive concept to ensure that this brand can launch into the fragrance market worldwide without harming their core brand. Firstly, an analysis of the Louis Vuitton and worldwide market for fragrance, especially, premium and luxury products is made, supported by SWOT analysis of the core brand and an explicit analysis of the key competitors in the worldwide market. Then, the whole strategy is created, starting with the current position and describing how the Louis Vuitton got there where it is now, all the way to the goals which the brand wants to reach and, more importantly, how it is going to do it, which tools it is going to use while doing this. Lastly, taking into account this research, the authors propose suggestions and conclusions for the brand in order to ensure that it can launch into the fragrance market worldwide without harming their core brand.
Introduction.
Nowadays, as people have higher incomes and move in the upwards direction along the hierarchy of needs, the demand for luxury goods is growing rapidly. Consequently, companies providing such goods try to adapt to these market trends by expanding product lines and creating more mass-luxury goods. An essential part of the majority of luxury brands is perfume, due to the fact that it fills the missing gaps of one's appearance. Louis Vuitton, has a variety of products: luxury trunks, apparels, shoes, accessories, jewelry; yet it seems that the fashion house lacks something that would complete the universe of Luis Vuitton, thus recently, the number of news saying that the company is going to launch their first fragrance flushed the world of high fashion. However, this is not really the fist perfume produced by Luis Vuitton, according to some sources, in the 1920s and 1930s the company tried to enter the fragrance market, unfortunately, these attempts were not successful.