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Louis Vuitton announced late last week that it has decided to open its first dedicated furniture and homewares outlet in Shanghai. This is the French luxury brand’s first store of its kind in the world that was built with the aim of expanding its offerings to wealthy Chinese customers beyond the fashion line.
According to Reuters, the Louis Vuitton furniture and homeware store in Shanghai is an appointment-only showroom and it is set to open on Monday, Nov. 28. The exclusive outlet is located behind Nanjing Road, an upscale shopping hub in the country. The store itself is housed in a century-old mansion with three floor levels.
The company said that the showroom will be open for trial and it will be there for several months as a pop-up. If the performance is outstanding, Louis Vuitton will permanently open the store.
In a report, LVMH’s flagship brand will decide if the showroom may continue or not based on the results of the trial run. The company carried out a press tour of the shop and the members of the media noticed that the items have no labels or price tags. However, an employee shared that one of the chairs designed by the Campana brothers is being sold for over 700,000 yuan which is around €94,000 while a small lamp costs 10,500 yuan.
Nearby the store stands a smaller building that houses the creations of Frank Chou. He is said to be the first designer to be selected by Louis Vuitton to create and enhance the brand’s "Nomadic Objects" collection.
Meanwhile, many companies are looking for other channels for growth thus many major companies have ventured into other fields. Louis Vuitton is also doing the same with the opening of its new furniture and homeware shop that is targeting wealthy Chinese customers who are still spending despite the market decline and economic uncertainty.
"LMVH is striving to reposition itself as a contemporary luxury brand by tapping new avenues that resonate with dynamic Chinese Millennials and Gen Z consumers," Bobby Verghese, a consumer analyst at GlobalData, said.
He added that he views the homewares business as a good bet for the Louis Vuitton brand, especially in China. "Unlike their predecessors who prioritized privacy, the Gen Y digital immigrants and Gen Z digital natives are not averse to flaunting their lifestyles on social media. LMVH aims to gain an early-bird advantage in this emerging space," he added.
Photo by: Christian Wiediger/Unsplash
