Luxury fashion brands still selling to the well heeled: business is fine despite consumer sentiment hitting new lows – Honey Replica Handbags – Brands Designers Handbags And New Products
Louis Vuitton chief executive Philip Corne said business was fine despite consumer sentiment hitting new lows this week.
“The general retail conditions may be difficult but our business has been quite OK,” Mr Corne said.
“Globally, parent company LVMH has recorded our best results for 2009 and 2010.
“Consumers are happy to spend on the brands they trust and we are seeing a flight to quality and service.”
He said that LV was an aspirational brand and a large part of its business came from working women who had saved enough to treat themselves to a handbag.
'Cosmopolitan Shoes' Manager Bianca Ghosn fits a pair of designer shoes on a Tracy Nehme
“Mainstream luxury brands have not seen the same depth of conservatism that has affected other retailers,” he said.
“We invest for the long term and stick to our strategy and do not compromise on quality and service.”
LV will move in November to its Sydney flagship store at the corner of King and George streets, where it will have three times the space of its current Castlereagh Street store.
LV has 10 stores in Australia.
At Chanel, business is “doing well” and has not been affected by the retail downturn and plummeting consumer sentiment.
Chanel is also on track to open a new fashion boutique in Brisbane in October.
Rose Ghosn, who owns upmarket shop Cosmopolitan Shoes at Double Bay in Sydney has also not noticed any change in consumer spending at her store where branded shoes are priced between $900 and $2000 a pair.