Louis Vuitton Scraps Plans for Tokyo Flagship Store

Louis Vuitton Scraps Plans for Tokyo Flagship Store

Tuesday, December 16, 2008 by Wendy Lam

Back in July, images of the proposed take on the Louis Vuitton Tokyo flagship store UNStudio was unveiled. Now WWD reports that “Louis Vuitton has scrapped plans for a new 10-story Ginza flagship due to open in 2010 against a backdrop of declining luxury goods sales in Japan.”

The move comes as luxury goods makers and retailers continue to struggle in Japan amidst a global recession. As reported, brands including Louis Vuitton, Dior, Prada and Salvatore Ferragamo are cutting prices here in a bid to lure customers back to their stores. Vuitton parent company LVMH Moët Hennessy Louis Vuitton saw its sales in Japan fall 7 percent for the nine months ended Sept. 30.

Wow, even Japan is having trouble moving their luxury goods- this is sad!


Categories: fashion


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