Coinciding with the twentieth anniversary of its direct presence in Colombia, the French firm Louis Vuitton decided to increase its commitment to our market with the opening of a ‘global store’ in the Andino shopping center, in Bogota.
As Yves Carcelle, former president of the specific leather goods company, said, a ‘global store’ is a store where you can get “the same as in Paris and at the same time”, that is, all the brand’s production lines.
The one in Bogotá is the second location of this type in the region – the one in São Paulo (Brazil) opened seven years ago – and one of the 30 in the world.
Regarding this opening, which will be held tonight with a dinner at the Colón theater, EL TIEMPO spoke with Alexandre Frota, the firm’s CEO for South America.
Why open a ‘global store’ in Colombia?
Colombia has always been a strategic market in South America. Spending 20 uninterrupted years accompanying the development of the country has allowed us to witness its growth. Our offer was too small for what the national market is today. Now we want to give our customers a more luxurious experience. This is an elite store, it went from 80 square meters to 500 square meters. It is at the level of the US, France, England and Italy.
Will there be ‘the same as in Paris and at the same time’?
Yes. In fact, this is more modern than the one in Brazil. Here shoppers will be able to find clothing, shoes, men’s products, our trunks and a line of ‘nomad’ objects, which are special decoration models made by 16 international designers and are available in very few of our stores.
Will you offer the part customization service, like in São Paulo?
Yes. Buyers will be able to add a personal touch to their objects, ranging from their initials to figures that represent a passion. For example, we can make an allusive painting in a trunk for someone who loves boats. In addition, the Bogotá store will have a fine leather goods salon, a service that consists of customers ordering their favorite model directly from the Asnières-sur-Seine (Paris) workshops with the leathers and fittings they choose.
What is the customer profile of our country like?
It is very similar to the rest of South Americans: very passionate about traveling. They have sophistication; As they are used to traveling around the world, they are very demanding and demand a special level of products.
Vuitton is a brand that has managed to combine tradition and modernity, which is why we have clients from 15 to 80 years old.
Vuitton is a brand that has known how to combine tradition and modernity, which is why we have clients from 15 to 80 years old. But most buyers are in the 40-55 age range.
Why don’t they have discounts?
We believe that sales are disrespectful to those who pay a price for a product and find it cheaper months later. In addition, Vuitton is an insured value, most of our products are timeless, they do not lose their validity. By contrast, a bag you bought 30 years ago has appreciated over time.
How has the luxury sector changed?
For us, contemporary luxury is the ability to give the customer individual treatment and a brand experience. Currently, luxury is focused on fulfilling the client’s aspirations, it is connected with the notion of service and experience. Therefore, our greatest investment is in thoroughly understanding all our customers.
As part of this, shoppers have access to experiences like the Fondation Louis Vuitton, one of the most impressive museums in Paris, and the house of Vuitton. All this allows us to consolidate luxury as a lifestyle that does not only come from products.
How is the brand doing with piracy in Colombia?
Piracy is a reality all over the world. We have a department specialized in identifying those who hack our products. The one from South America is in Argentina. We know that it is difficult to extinguish this phenomenon and that is why we work together with the Government. But the truth is that we are not afraid of it, because it does not steal from our real clients.
Why do you think luxury companies seem immune to crises?
We have a deep relationship with customers. This relationship gives us a high level of fidelity, independent of macroeconomic situations. Of course, the crisis can have an impact, but this relationship gives us the certainty that at that time customers will lower their consumption of other brands, but not Vuitton’s.
Finally, do you have anything to do with an actor of the same name?
(Laughter) No. I am the namesake of an actor who began his career as a leading man in soap operas in Brazil and later made adult films. But so far it hasn’t caused me any problems.
MARÍA CAMILA BERNAL AND BERNARDO BEJARANO GONZÁLEZ
Writing THE TIME
On twitter: @Camibernald
The French empire LVMH lives not only on handbags
Last week, the French luxury giant was fighting the purchase, for 2.6 billion dollars, of the British Belmond Ltd., owner of the famous Club 21 restaurant in New York and more than 30 exclusive resorts in various parts of the world, from San Petersburg to Anguilla, in the Caribbean.
This is LVMH’s largest transaction since it took full control of Christian Dior for more than $7 billion, last year.
The group that owns the Louis Vuitton brand will pay $25 in cash per share, 42 percent above Thursday’s US closing price.
The acquisition is one of the largest by Bernard Arnault, the founder of LVMH, and rivals those of Bulgari (2011) and Loro Piana (2013). It comes at a time when consumers are shifting spending toward travel, health clubs, restaurants and entertainment and interest in shopping malls is waning.
The company’s shares have fallen about 18 percent since September on concern that the Chinese, accounting for about a third of the industry’s sales and most of its growth, they will no longer have room in their closets for more leather goods.
According to Goldman Sachs, revenue from the luxury sector is likely to grow 5 percent this year, a slowdown from a pace of more than 10 percent last year.Bloomberg
