LV, The World'S Largest Luxury Brand, Has Changed Its Head To Sell Yogurt.
Yogurt is to be sold.
extravagant
Reporter LV learned yesterday that LVMH, the world's largest luxury goods group, announced that its brand LV would be replaced by Constance, a new leader from the food giant Danone Group.
President Jia Shijie, who worked for LV for 21 years, is stepping down.
Insiders are surprised at the new personnel decision of LV group.
Ouyang Kun, China's chief representative of the World Luxury Association, believes that the LV group's personnel decision has released LV
brand
The future strategy will turn to the "people to people" route, from the high-end.
market
Extend to the mass consumer market.
It is understood that Lu Wei Ming Xuan group across the fashion, jewelry, perfume, cosmetics, retail and other fields, the group's annual income of 20 billion euros, while LV annual income of up to 6 billion euros, LV brand contributed 30% of the group's income.
In the fashion industry, the LV brand has steadily occupied the absolute position of the high-end market.
In the view of Ouyang Kun, China's chief representative of the World Luxury Association, the LV brand invited a senior person in the fast moving consumer goods industry to take charge of luxury brands. The aim is to help LV develop the low-end market and products so as to occupy more market share.
According to reports, LV will also have a rather long handover process, and Jia Shijie will continue to stay until the end of 2012.
Today, LV's image, strategy and even the soul of the whole brand can be said by Jia Shijie.
Some commentators believe that the new president Constance's experience in the mass market will help LV win more consumer groups.
However, there is also a wait-and-see attitude in the industry. "Selling yogurt after popular is different from selling luxury goods. There is a big difference between the two."
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