While Louis Vuitton doesn't publicly release a specific, formally documented "mission statement" in the way some companies do, understanding its strategic direction in 2017 and beyond requires examining its actions, public communications, and the overarching mission and vision of its parent company, LVMH. Founded in 1987 through the merger of Moët Hennessy and Louis Vuitton, LVMH (which stands for Louis Vuitton Moët Hennessy) has become the world's leading luxury goods conglomerate, with Bernard Arnault at its helm since its inception. Analyzing LVMH's mission and vision, coupled with Louis Vuitton's specific initiatives, reveals a nuanced picture of its goals and objectives in 2017 and how they intertwine with considerations of sustainability and target audience.
LVMH Mission and Vision Statement:
LVMH doesn't explicitly publish a concise mission statement in the traditional sense. Instead, its strategic direction is communicated through its annual reports, press releases, and public pronouncements by its leadership. However, we can infer a core mission and vision from these sources. The overarching aim is to maintain and grow its position as the global leader in luxury goods. This involves:
* Preserving and enhancing the heritage of its brands: LVMH recognizes the value of its brands' historical significance and strives to protect and build upon their legacies. This is crucial for Louis Vuitton, given its iconic status and rich history.
* Driving innovation and creativity: LVMH invests heavily in research and development, fostering creativity across its brands to ensure continued relevance and appeal to evolving consumer tastes.
* Expanding its global reach: The group continually seeks to expand its market presence in both established and emerging markets, leveraging its diverse portfolio of brands to cater to a broad international clientele.
* Delivering exceptional customer experiences: LVMH aims to provide a superior level of service and engagement to its customers, reinforcing the exclusivity and prestige associated with its brands.
* Financial success and shareholder value: Ultimately, LVMH's mission is to generate strong financial returns for its shareholders while upholding its commitment to luxury and craftsmanship.
This implied LVMH mission informs Louis Vuitton's strategic direction. While Louis Vuitton doesn't have a separate, publicly available 2017 mission statement, its actions reflect an alignment with the parent company's broader goals, with a specific focus on:
Louis Vuitton Goals and Objectives (2017 and Beyond):
In 2017, Louis Vuitton’s objectives likely centered on:
* Maintaining market leadership: The brand aimed to consolidate its position as the world’s leading luxury leather goods brand, fending off competition and maintaining its premium pricing strategy.
* Expanding product lines and diversification: This involved introducing new product categories, collaborations, and limited-edition items to attract new customers while retaining its loyal clientele.
* Strengthening its digital presence: Louis Vuitton recognized the growing importance of e-commerce and invested in enhancing its online platform and digital marketing strategies.
* Enhancing the customer experience: This involved refining in-store experiences, improving customer service, and personalizing interactions.
* Global expansion and market penetration: Louis Vuitton continued its expansion into new markets and strengthened its presence in existing ones, strategically targeting specific demographics and consumer segments.
Target Audience of Louis Vuitton:
Louis Vuitton's target audience is broad yet highly selective. It encompasses a global clientele comprising:
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