Longchamp outpaces Vuitton in sales performance and pursues global expansion
Much like Burberry almost a decade ago, Longchamp‘s positioning as a ‘democratic luxury’ brand is paying of, especially since the company decided to upgrade and enlarge its stores. The most recent opening, Longchamp’s store in London’s Regent Street perfectly illustrates how important an elevated retail experience, is for consumer, who, as the company CEO and co-owner says -they know and trust the brand to offer value for money “this is one of the strengths of the brand.” CEO Jean Cassegrain told Bloomberg.
Privately owned Longchamp posted sales that advanced 16 percent to 454 million euros ($615 million) in 2012. That compares with sales growth of 14 percent at LVMH‘s fashion and leather-goods division and 10 percent for the luxury industry. By the end of next year, Longchamp will open stores in Rome, Tel Aviv, Abu Dhabi, Sao Paolo, Munich and Barcelona.
Longchamp, known as a handbag specialist launched its first shoes collection earlier this year, however, it seems more like building an identity, rather than drawing on heritage. The Longchamp range of products remains quite limited compared to other direct competitors such as Coach.