University Of Pennsylvania’s Louis Vuitton Problem
September 25, 2018 | Education | No Comments|
Louis Vuitton is a luxury brand. For six years in a row (through at least 2012), it was named the top fashion brand in the world. According to one study, as of 2010, the brand itself was worth more than $19 billion and there’s no reason to think it’s worth any less today.
And Vuitton guards its valuable brand, as any business would. One of the ways it does that is by not discounting, ever. In their words, “ … Louis Vuitton never marks down its prices …” Citing Vuitton, Gita Johar, a marketing expert and professor at Columbia Business School, told MarketWatch, “There’s a heuristic in consumers’ minds that high price means high quality … once you hold sales you enter a slippery slope.”