Thursday, December 4, 2008

RICH YUNG REPORT: Louis Vuitton Cuts Prices In Japan

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, lowered retail prices for its Louis Vuitton brand in Japan by 7 percent yesterday to boost sales, bloomberg reported.

For years the Vuitton-crazed shoppers in Japan have fueled LVMH's rapid growth, together the U.S. and Japan account for about a third of LVMH's revenue.

The price cuts apply to nearly all items sold, including bags, watches, apparel and shoes, at the company’s 56 stores in Japan, Nikkei cited the company as saying.

The price reductions reflect the yen’s strength against the euro with most Louis Vuitton products imported from France, the report said. Louis Vuitton sales fell 7 percent in Japan in the first nine months of the year, the report said.