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The Louis Vuitton has one of the highest exposures in Japan, standing at 33 per cent. This relatively high exposure rate has had an impact on the overall Japanese market…
The Japanese market was the greatest buyer of Louis Vuitton luxury products during its golden age. This was influenced by the Japanese value of quality and taste. Louis Vuitton is known to produce high-quality products, an aspect that the Japanese were drawn to. However, things changed when Japan was hit by an economic recession, which lasted for quite long. Louis Vuitton could not make the vast sales it made before the recession as most Japanese consumers had changed their perspectives on different aspects of luxury products.
Nonetheless, Louis Vuitto greatly contributed to the changes witnessed in the Japanese market, since it had a big influence, being the world’s biggest luxury company. The high penetration and visibility of Louis Vuitto did not measure up to the market demands of the Japanese, as they were a highly individualistic society, which embraced uniqueness. This led them to think that shopping for Louis Vuitton was a waste of their money, and hence, resulted in the change of buying patterns in the Japanese market as people looked for brands that would satisfy their needs. Similarly, this high penetration and visibility of Louis Vuitton led to the further decline of local luxury brands. This resulted in the production of counterfeit Louis Vuitton products in the Japanese market in order to compete with the Louis Vuitton brand. The Japanese were compelled to compromise their value for quality, as it was hard to distinguish between the real and the fake brands of Louis Vuitton. ...
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