Market Change: How to Transform and Upgrade Luxury Goods in the New Era

Jingyu Gu; Yi Liang; Ruoshui Wang; Pinghao Zhang

doi:10.2991/assehr.k.211209.475

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Market Change: How to Transform and Upgrade Luxury Goods in the New Era

Taking the LV Brand for Example

Authors

Jingyu Gu¹^{, *}^{, †}, Yi Liang²^{, †}, Ruoshui Wang³^{, †}, Pinghao Zhang⁴^{, †}

¹KingLee High Schoole, Zhengzhou, Henan, China 450000

²America University, Washington, DC 20016

³University of San Diego, School of Business, San Diego, CA, United States 92110

⁴Shenyang Jianzhu University, School of Municipal and Environmental Engineering, Shenyang, Liaoning, China 110000

^†

These authors contributed equally.

^*Corresponding author: Email: ruoshuiwang@sandiego.edu

Corresponding Author

Jingyu Gu

Available Online 15 December 2021.

DOI: 10.2991/assehr.k.211209.475 How to use a DOI?
Keywords: Luxury brand transformation; marketing strategy; LV brand; younger consumers
Abstract: As millennials who are highly educated, possess adequate economic resources, and have a completely different consumption outlook from previous generations start to occupy the main luxury market, luxury brands must make certain changes to cater to the new generation of consumers so as not to be abandoned by the times and regain the market. The subject of this paper is how to transform and upgrade luxury brands to seize the market in this emerging era. This paper intends to take the brand Louis Vuitton (LV) as the primary case study object and combine case study methods with secondary data analysis to explore related issues of luxury goods transformation. Through investigation, it has been found that the LV brand presents its characteristics in terms of marketing strategy concept, product design, and selection of co-name and spokesperson with other brands. On this basis, by examining the three characteristics mentioned above, this paper summarizes the main trends of luxury brand transformation and its reasons. In research and investigation, the literature and data in relevant fields are not abundant at present, so this paper is innovative in the topic selection. Moreover, the luxury market is still in the transition stage, so this research has some frontiers and practical significance for future related research.
Open Access: This is an open access article under the CC BY-NC license.

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Volume Title: Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series: Advances in Economics, Business and Management Research
Publication Date: 15 December 2021
ISBN: 978-94-6239-483-4
ISSN: 2352-5428
DOI: 10.2991/assehr.k.211209.475 How to use a DOI?
Open Access: This is an open access article under the CC BY-NC license.

Cite this article

ris enw bib

TY  - CONF
AU  - Jingyu Gu
AU  - Yi Liang
AU  - Ruoshui Wang
AU  - Pinghao Zhang
PY  - 2021
DA  - 2021/12/15
TI  - Market Change: How to Transform and Upgrade Luxury Goods in the New Era
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 2927
EP  - 2933
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.475
DO  - 10.2991/assehr.k.211209.475
ID  - Gu2021
ER  -

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