According to LVMH, which owns Louis Vuitton, demand for luxury goods has been rising faster than expected. The conglomerate reported a 15% increase in sales in the first quarter of 2017. Louis Vuitton has been working on reinforcing its image as ‘the brand of travel’ with elaborate fashion shows in diverse international locations such as Palm Springs (U.S.), Rio de Janeiro (Brazil), and Kyoto (Japan). It has also searched to attract a younger generation with a range of streetwear collections and by actively working its presence on social media. The manufacturer says it has ‘capped orders’ for its menswear Autumn ready-to-wear collection in order to protect the brand’s exclusive image.

Source: Bloomberg