It's Never Too Late to Change the Playbook For Your Image

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Bernard Arnault has spent decades carefully cultivating the image of some of the world’s most sought after brands, from Louis Vuitton to Dior. Now the LVMH chief is changing tactics when it comes to his own. 

The billionaire published an acerbic open letter attacking one of France’s top newspapers on Sunday, taking aim at a six-part examination of his political connections, media ownership and the question of who will eventually succeed him at the top of his luxury empire. On Monday, the 77-year-old took to social-media platform X for the first time to amplify his uncharacteristic missive.

The new approach comes as Arnault has grown increasingly frustrated with how he and his family are being portrayed.  

Admirers credit Arnault with turning brands such as Louis Vuitton and Dior into global powerhouses and helping establish France as the dominant force in the luxury industry. As such, he has the right to exercise control over the use of his image and how he is portrayed.

The World Wide Warhol

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An exhibition coordinated by the Reunion des Musees Nationaux in collaboration with The Andy Warhol Museum and sponsored by LVMH / Moët Hennessy / Louis Vuitton (Paris).

Designer Labels Are Losing Their Appeal in Japan

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Considered the world's leader in luxury goods, LVMH Moët Hennessy Louis Vuitton SA, canceled plans to rent a 10-story building in central Tokyo for a new flagship store. It shows how the global economic downturn has hit Japan, one of the most important markets for the luxury-goods industry.

What struck me is this:

Emerging markets make up about 15% of the luxury-goods sector's overall sales and had in some places been reporting double-digit growth. But as the global financial crisis has knocked down Chinese and Russian stock and property markets, wealthy consumers are under pressure to cut spending.
Japan, meanwhile, makes up 12% of the luxury sector's global sales of €175 billion ($240 billion), according to a Bain & Co. study released last month. But the Bain study said Japan's luxury sales are expected to decline 7% in 2008, after a 2% decline in 2007. LVMH reported that in the first nine months of 2008 Japan sales were down 7%, as its world-wide sales grew 4.5% in the period to €11.6 billion.

Who would think that emerging markets would be snatching up expensive luxury goods?

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