30 Sep '13, 7am

Qatar-backed Louis Vuitton expands into an even more affluent sectors

LVMH (Louis Vuitton Moet & Hennessy), the French luxury goods conglomerate part owned by Qatar, is taking its product offerings to the next level by introducing an even more opulent line of handbags and accessories. According to trade publication Women’s Wear Daily (WWD) it has commissioned designer Darren Spaziani, who had previously worked on accessories at Proenza Schouler. Spaziani initially worked for LVMH from 2004 to 2006 under Marc Jacobs and they will make sure that he is in no shortage of lush materials and ultra fine leather to work with. Currently, the company sells $88,000 watches, $4,000 handbags, and $1,000 scarves, and some have questioned how much higher the prices of the new ranges can soar. The move comes as LVHM reported profit had declined by nearly 4 percent in their last fiscal year which ended in June. This is due to the fact that most of its recent...

Full article: http://www.arabianbusiness.com/qatar-backed-louis-vuitton...

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