Fashion trend happens when people start liking a new item, color, or product in the fashion industry. Many factors impact fashion trends, including companies that sell clothing worn by celebrities, textile producers, and models. Introducing a new trend leads to a five-stage cycle that ends in obsolescence. At this point, the fashion industry and the public have deemed a trend out of date that it is at the end of its life cycle. However, because of how fashion changes, a style that is thought to be out of date may come back into style. Louis Vuitton has everything people could ever want or need, from leather goods to purses. Besides, the company sells ready-to-wear jewelry, shoes, watches, sunglasses, books, and more, and is one of the world’s most well-known fashion companies. Products are sold through leased, freestanding shops, high-end department stores, and an online section on its website. Most of the products sold by Louis Vuitton go through the five stages of the fashion cycle, and the company has to use different strategies.
The first stage in the fashion cycle is the introduction, where a new fashion style emerges. When this happens, only a few designers make and sell the style, and it is costly. The design does not have to be completely new as designers can interfere with a few elements like color, line, shape, details, or fabric and appeal to their customers’ interest. At this stage, the number of customers is low and comprises innovators. These customers adopt new styles early and are less sensitive to price. They lead in embracing them and popularizing new designs to the majority.
The second stage is the rise (acceptance), where the new style gets attention and starts to spread. Many fashion gurus and trendsetters, from social media influencers to celebrities, accept the idea, buy it, and make more people want it. They will evoke people’s trust in the trend, which means more stores will likely start selling it. At this stage, copying and adaptation are common, where some designers or stylists improve the popular style. They modify the style to meet their customers’ desires and price ranges. Some designers may use cheap fabric and detail to sell the final product at a lower price. The third stage is called the peak, where retailers copy the trend, and mass production is available at a wide range of prices, especially at the lower end. The stage is sensitive, so suppliers have to watch the sales trend closely. Because prices are relatively low and most people have purchased the fashion, it signals the coming of another fashion.
The decline is the fourth stage in which many people have already bought the design, especially due to reduced prices. Because the style is so popular, people who want their clothes to be unique will be disappointed. Others get bored of the style and want to shift to a new fashion, especially an innovative one. Those who still wear the fashion do not want to purchase it at the same prices as before, and retailers respond by putting the products in racks to create room for new fashion. The final stage of the fashion cycle is rejection, where consumers have moved on to other trends in the introduction or growth stages of their life cycle. However, it does not mean that if a trend is thought to be out of date, it will not return. It may reappear in the future as a new trend, and the fashion trend cycle is continuous.
Louis Vuitton is associated with high-end handbags, as shown in its logo and brand. The company has led as the most valuable brand in the past years, especially with products like the Sarah Wallet. It is one of the most popular fashion brands because it is seen as a sign of wealth. Following its introduction, many fashion designers used to copy it. The trademark Monogram canvas had to stop people from copying the product. It generally has a large team working on counterfeiting with the help of networks and good lawyers. The strategy works as designers and artists cannot sell the company’s products without a permit. Louis Vuitton’s products are mostly found in company-owned Louis Vuitton boutiques, with few in high-end shopping areas and luxury department stores. Within department stores, the boutiques are separate from the store, with the company’s employees running them.
The act of preventing counterfeiting at Louis Vuitton is a strategy to control the fashion tent cycle. As discussed in the fashion cycle, the acceptance and peak stages are associated with copying, with some designers interfering with the quality of the products. If there are no laws to regulate copying and mass production by other manufacturers, the fashion cycle can be short. In other words, the product can reach decline within a short time, failing to create a good income for the company. Having laws prolongs the rise and peak stages, allowing the company to sell many products and make massive profits.
The company’s products can be basic, fashionable, and fad, depending on their usefulness, relevance, popularity, and cost. In general, due to constantly producing new collections and updating new items, Louis Vuitton has mostly fad products that are replaced by new ones. The longest cycle is linked to the maturity stage of accessory products, classic handbags, and watch items. On the other hand, the clothing of the company can be described as having the shortest life cycle, with seasonal collections switching styles. Moreover, the approximate time-lapse of the cycle for innovative designs is several months, up to a year. At the same time, the luxurious classic pieces that are often associated with the brand can last up to a decade in the market.
This company innovates by applying the trickle-down effect, which in marketing refers to the phenomenon of fashion trends flowing from the upper class to the lower class in society. Notably, the company’s items started to become more available to the general public and not just the upper class. Examples of the theory include instances of Louis Vuitton clothes being widely resold for minimal prices, as well as the public fashion trends favoring top brand materials. Hence, the theory explains how a company targeted towards upper-class members can additionally benefit from the trends of middle- and lower classes. Louis Vuitton is famous for using canvas fabric instead of leather and other materials. Its clothes are noble, waterproof, high-qualified, and aimed at upper-class people.
Louis Vuitton mostly sells canvas and leather products that fall under the classic type of products. These products have a large market and have a longer fashion cycle than other products. They are associated with small design changes, and new designs are rarely introduced in the market. An example of these products is a handbag for women or a man’s wallet. Changes in these products mostly involve modifying the shapes, sizes, or materials. Because of the long fashion cycle, big companies do well in selling because they have a good brand name.
In conclusion, Louis Vuitton is a strong company in the fashion world, selling leather and canvas products. While its products have a long fashion cycle, they undergo five stages of the fashion cycle: introduction, rise, peak, decline, and rejection. However, the company has taken necessary measures to ensure the process is even longer. It has laws prohibiting people from selling and copying the products, with most sales being made through company-owned stores. As a result, they enjoy the prolonged rise and peak stages, increasing income for continuous business improvement. Additionally, it has online stores through which customers can access the products. Overall, Louis Vuitton controls every stage of the product’s fashion cycle, and the company has enjoyed positive results over the years.