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Magazine > Industry News > News Content
Louis Vuitton Cancels Tokyo Flagship Store
 
      12/28/2008 4:59:09 PM

The world's largest luxury goods conglomerate has been stung by the global economic slowdown. LVMH Moët Hennessy Louis Vuitton SA has abandoned its plans for a Louis Vuitton flagship store in Tokyo's Ginza shopping district, proving that even the strongest international luxury brands can't weather the downturn. The store was due for completion in 2010, said an official for the developer, Hulic Co.

Growing up in the '80s, I remember Japan being the most concentrated source of revenue for luxury brands. Louis Vuitton. Gucci. Hermes. It's a country that's always been renowned for its thirst for luxury goods. Japan has been a major market area for LVMH, which has 56 stores in the country. So I'm surprised by the company's latest announcement.

But at the same time, I'm not.

Japanese consumers are increasingly forgoing luxury brands for smaller-ticket items and trading down for designerlike goods at chain stores such as H&M and Zara. According to a luxury study by Bain & Co., Japan's luxury market, which is 12 percent of the global total, is already in a luxury goods recession and is expected to decline by 7 percent this year, vs. a 2 percent decline in 2007.

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JP Renaissance Enterprises Corporation, an active fashion and gift company that provides fashion accessories and jewelry. We expanded our branches in Asia and North America, now, we devote ourselves on globalization by deploying unique designs and concepts. Our designers put their efforts on introducing innovative ideas, integrating creative and trendy elements and developing new style, such as integrating the nature into our products. Our fashion accessories and jewelry are capable to give you a different fashion ideas, a different way to dress, and can surprise your friends, lover, parents, clients by sending them special gifts on holiday or in special events. The products are not only fashion symbols but also tools to communicate, for example, you can use our new fashion and gift guides as an interesting topic among girls, or share the experience of our online jewelry store or the latest shoes. hats and socks with your friends..


Furthermore, we provide dance gifts wrapping consult and special gifts boxes manual with professional wholesale and retail business. for examples, we not only sell bridal jewelry, custom clothing, tube socks and silver charms as a manufacturer and wholesaler, but also provide party gifts for friendship examples. Besides, while outputing luxurious goods and service, we also offer value packs and free gift cards, such as chargeless gifts for valentine, bargain gifts for lover on special events.


Clients all over the world can enjoy our products and service through the internet. For instance, buyers from Fort Worth - Texas - United States, Charlotte - North Carolina - United States and Paris - - - France.


Our online Fashion Magazine, on the other hand, presents information about top holiday gifts guides, hair styles, life style trends, potfolio fashion tips, what to wear on Valentine's Day, dressing tips, dressing guides or general fashion tips for women and for men, gifts for love and anniversary gifts industry news, product kownledge about christian clothing, fake diamond rings and handcrafted jewelry, fashion shows...

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