Louis Vuitton is a French listed company. At first, it was a luxury brand acquired by Louis Vuitton, a top fashion and leather manufacturer, and Hennessy, a wine tycoon. This company is one of the best in the world in terms of sales, market value and influence. Louis Vuitton Xuan Ming covers a wide range of fields, including wine and spirits, fashion and leather products, perfumes and cosmetics, watches and jewelry, and boutique retail. The companies related to champagne, spirits and leather products under the Group basically have a history of more than 100 years, while the companies related to perfume, cosmetics and fashion started late, but they have built very well-known brands and cultivated a solid international position in decades. Guerlain was founded in 1828, Dior in 1947 and Givenchy in 1952. The goal of this group is to spread the essence of western living art to the whole world and make products with meticulous and perfect traditional craftsman spirit. Therefore, every work of Louis Xuan combines tradition and creativity, which can ignite unlimited dreams and stimulate people's imagination.
LVMH can have such a broad business map, which is inseparable from its merger and acquisition. Since Bernard, the president of the group, bought Dior perfume at 1987, the head of LVMH began to buy luxury goods. From Givenchy and Sephora in France, to Loewe in Spain, to TAG Heuer in Switzerland, and even to American brands such as Donna, it took LVMH about 200 years to realize its dream of a business kingdom. As a result, Gucci, Hermes and Tiffany, once strong rivals of LVMH, were either acquired, become shareholders or defeated. This shows that the strength of LVMH can not be underestimated.
However, in 2020, the COVID-19 outbreak spread all over the world, resulting in a loss of more than 30 billion euros in the total sales of luxury goods. As a French luxury goods giant, Louis Vuitton is also the first to be affected by the epidemic. However, not only Louis Vuitton, but also other luxury goods and even other industries are more or less affected. According to the research forecast released by the Luxury Industry Association, the contribution rate of China market to global luxury consumption is expected to reach 50%, which will be the key to the industry rebound after the epidemic. However, some studies show that this epidemic may affect the attitude and planning of some consumers towards luxury goods, and may change from advocating fashion and luxury before the epidemic to paying attention to design and modeling after the epidemic, which will have a certain impact on the high-priced luxury goods industry.