Netizen: Great value, it is genuine at a glance.
On April 17, the topic of "more than 20,000 to buy LV bag back rivets for 5 hours dropped" sparked heated discussions.
According to the cold and warm video, on the 16th, Ms. Mei from Shenzhen, Guangdong Province, said that she spent more than 24,000 yuan to buy an LV bag in a physical store in Macau, and it took less than 6 hours to carry it back that day, and one of the rivets on it fell off. After contacting the store, I was told that I could not return the product, so I could only go to the store to exchange the goods.
In response to this matter, LV customer service responded that the company stipulates that products sold offline can be exchanged in a new and unused state, and if there is a problem, you can contact the store for after-sales confirmation, and online purchases can accept returns.
In this regard, some netizens said, "What's the problem with whether you can exchange or not return," and some netizens said, "Where is this worth 20,000", "It won't be adaptive, it doesn't seem to be the target user." ”
It is worth noting that "can't afford it" "don't buy" ... There is no shortage of voices on the Internet that refuse luxury goods, but the result is still more and more buying.
Two months ago, on February 19, LV brought the "first rise" of the Year of the Dragon. The price of some products in the Chinese market has been raised, with an average increase of about 6%.
In the past three years, LV has undergone at least nine price adjustments.
Starting from June 2023, LV has adjusted the prices of some products in the Chinese market three times.
Among them, LV's price increase measures in June 2023 involve all categories, and some products have increased by more than 11%. In September, LV raised prices again for leather goods and accessories, with an average increase of about 3%. This price increase comes after the last one, five months ago.
Jean-Jacques Guiony, chief financial officer of LVMH, said that the number of customers in China is now twice as high as in 2019. The share of business from tourists has declined, but this part of the revenue is still the same as before.
This represents a significant increase in domestic purchases, and to meet this demand, Louis Vuitton and Christian Dior are considering opening larger stores in China.
According to China Fund News, the price increase has not been cold, but has ignited the enthusiasm of consumption in the Chinese market. A Beijing netizen complained that buying a bag was like rushing to the market. "The popular model has long been out of stock, and there is an hour of queuing in front of LV to enter the store. ”
In addition to Beijing, Shanghai and Guangzhou, second-tier cities such as Wuxi, Nanjing, and Hangzhou have also seen this kind of queuing pomp.
As a result, LVMH's stock price surged nearly 13% on January 26.
Some netizens complained, "This is no better than any financial product." ”
A reporter from Beijing Business Daily learned that the 2023 annual performance report released by LVMH Group on January 25, Paris time, showed that revenue was 86.2 billion euros and net profit was 15.2 billion euros, both of which refreshed the annual high set in 2022.
Zhang Xinyuan, secretary general of the Co-Found think tank, believes that for truly powerful luxury consumers, price is not the main consideration for their purchase, but noble brands, high-end quality and fashion taste are the first choice factors.
In addition to screening core customers, another meaning of the price increase of luxury brands is to create psychological hints for consumers to maintain value.
Source: Beijing Business Daily