The fashion world can be quite fickle, leaving brands to duke it out for top positions in the market. The latest Roman Empire to fall is Louis Vuitton, left in the dust by Chanel.
According to the World Luxury Index, Chanel is now the most sought-after brand in China. Previously, Louis Vuitton had held the top slot, but Digital Luxury Group, the company that conducted the market research, claims that Chanel's edge in the lucrative beauty industry pushed it ahead. (Louis Vuitton currently has no stake in beauty.)
It's no wonder Chanel is all the rage in China. Aside from hawking some pretty covetable bags and perfumes, the fashion house has been a model for many of its competitors with its emphasis on exclusivity, especially when it comes to China. After the company opened stores in Shanghai last year, Chanel's president of fashion, Bruno Pavlovsky, told CNN: "We try to get the best three boutiques in Shanghai instead of having 10 boutiques."
Are you listening, Louis Vuitton? Perhaps you just need to launch a fragrance and play a little hard to get so that you can get back into China's good graces.
Walking billboards don't hurt either...
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