Monday, January 26, 2009

Fashion News: Louis Vuitton Australia

G'day my fellow Petites! Happy 'stralia day and lunar new year! I'm heading out for a barbie soon, but I can't wait to share this news. I've decided to put up a new section called 'fashion news' and it'll be posted sporadically. Hopefully, I can post this section on a weekly basis.

Anyway, the recession has really fallen off the wheel if a luxury company has decided to become a 'masstige'. If you've read the weekend papers, that's what happened to Louis Vuitton Australia.

Yes, Louis Vuitton-the company famous for its LV monogram has decided to open stores in Westfields Bondi Junction and Chadstone in Melbourne this year. It's the first the company has opened its stores in a shopping centre-but those LV execs realised in order to survive the recession, they needed to widen its customer base to people who aspire to the brand, but can't afford its signature style.

This means LV is launching a men's 'basics' range of jeans, shirts and tops for men. I'm not sure how cheap these will be-I can imagine a plain white t-shirt will cost $200 from LV. If you want good 'basics', go to Target, at least you're getting better value for money.

Though, the idea of a 'masstige' market isn't new. Yves Saint Laurent, Giorgio Armani, Gucci and Dior have done this through cosmetics ages ago. The smart cookies have realised that they have heaps of customers who aspire to a brand, but they don't necessarily have the money to splurge on a YSL business suit or a pair of Dior heels. Though, they can buy into the brand through cosmetics-especially lip gloss and perfume. Hell, I've got heaps of cosmetics from YSL-including the touche eclat and the eyebrow duo; not to mention Armani Code for Women for Giorgio Armani.

Overall, luxury brands in Australia are doing well compared to their overseas counterparts. Quitessential British brand Burberry have sacked their staff after falling sales. In France, Chanel had to lay off it staff for the same reason. In the US, Cartier and Montblanc have sunk and in Tokyo, Louis Vuitton had to cancel its latest store opening.

That's the biggest news in fashion-land so coming up soon about Aussie chain stores as well.

Buzzing with news,


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