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Louis Vuitton will expand Chinese third-tier cities

The biggest luxury group LVHM said they predicted that their watch and jewelry business would show trends in growth, and they would devote their efforts to develop its market shares and expand Chinese third-tier、fourth-tier cities.

North East CEO of Louis Vuitton Jean-Marc Lacave, who is in charge of watch and jewelry business, interviewed by Reuter’s News Agency, he said the global luxury industry either went through hard times or showed fast anabiosis in the 2009. Increase of Chinese market is a little delayed, however, it has been raised obviously in the past months.

Research from World luxury association has been shows that Chinese luxury sales has been increased to 94 billion dollars, about 27.5% of global occupancy rate.

He said, consumers of Chinese luxury products could be found everywhere, and important business task in the North East is to gain proficiency of the Chinese market. Louis Vuitton has been set up about 100 sales points.

Expanding is not only restricted to second-tier cities but also in third-tier cities and fourth-tier cities. Besides, as for Louis Vuitton, both Chinese market and Chinese visitors are their important passenger sources.