Louis Vuitton

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Louis Vuitton (born August 4, 1821, Anchay, France—died February 27, 1892, Asnières-sur-Seine) French box maker and entrepreneur who founded his namesake brand of luxury trunks and luggage in 1854. During his lifetime, Vuitton introduced a number of innovations to luggage, and his brand later grew to become one of the most valuable and recognized fashion houses in the world. It is now known for leather goods as well as clothing, jewelry, accessories, and other high-end products.

Early life and career

Louis Vuitton was born in Anchay, a small remote village in the mountainous region of eastern France. He was the son of a farmer, Xavier Vuitton, and a milliner, Coronne Gaillard, who died when he was 10. His father soon remarried, to a woman who Louis Vuitton found strict. Unhappy with his provincial life, he left home at age 13, traveling on foot toward Paris. Vuitton stopped to work odd jobs to support himself and eventually arrived in the city in 1837 at age 16. There he found work as an apprentice to the master box maker and packer Romain Maréchal.

In the 19th century box making and packing were specialized trades in which artisans handcrafted luggage from wood, brass, and leather. Each piece was specially made for an individual customer, whose luggage would be handled roughly when it traveled via horse-drawn carriages or boats, the main forms of transportation. Vuitton soon developed a reputation as a skilled craftsman and began attracting members of the French nobility as customers. In 1853 he was appointed the personal box maker and packer of Eugénie, who had become the wife of Napoleon III and empress of France that same year.

Louis Vuitton established

In 1854 Vuitton married Clemence-Emilie Parriaux and soon afterward left Maréchal’s employment. He opened his own workshop in Paris near the Place Vendôme, where many fashion houses and jewelry firms were located. Vuitton advertised his specialty in packing fashions and fragile objects. In 1858 he introduced the rectangular-shaped trunk with a flat lid. Traditionally, trunks were made with dome-shaped tops, which allowed rain and mud to roll off as luggage was transported on the backs of stagecoaches. Vuitton, noticing the main modes of traveling were becoming the train and ocean liner, produced the flat lid for easier stacking and shipping. He also replaced the leather, which was heavy and often cracked, with lightweight wood covered in Trianon gray canvas, a fabric Vuitton designed to be waterproof and stain resistant.

High demand for the stackable, flat-lid trunk prompted Vuitton to move his workshop to a larger space in Asnières (now known as Asnières-sur-Seine), a village northwest of Paris. Its location on the Seine River and near a railway line allowed for convenient river and rail transport of finished products as well as the delivery of raw materials. Vuitton, his wife, and his son, Georges, resided in a space above the workshop.

Setbacks, signature canvases, and tumbler locks

The company suffered several setbacks during the Franco-Prussian War of 1870–71, which paralyzed travel and consequently lessened the demand for luggage. Moreover, the workshop in Asnières was ransacked, and its equipment was stolen or destroyed. After the war, however, Vuitton reestablished his business and opened a new shop in Paris at a prestigious location close to the Opéra Garnier and the Louvre.

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Vuitton continued to experiment with new signature canvases, debuting a patterned canvas of red and beige stripes in 1872, followed by a striped canvas in beige and brown (1876) and then the iconic Damier design, featuring a checkerboard pattern of red and white or of beige and brown (1888). To curb imitations of his work, he also stamped a brand identification on his trunks that read: marque L. Vuitton déposée (“registered L. Vuitton brand”). By this time, Georges Vuitton had begun working with his father, contributing to pattern ideas and handling management of the business.

Vuitton expanded his business outside of France in 1885 when he opened a shop in London on Oxford Street. The following year, he and Georges Vuitton developed the tumbler lock, which featured a single lock system with two spring buckles and was eventually patented by the company. Georges Vuitton was so confident in the lock’s security that he is said to have challenged American magician Harry Houdini to escape from a locked Vuitton trunk. The showman, however, did not take up the challenge.

Louis Vuitton under Georges Vuitton

Upon Louis Vuitton’s death in 1892, Georges Vuitton assumed leadership of the business. During his tenure, he exhibited Louis Vuitton luggage at the World’s Columbian Exposition in Chicago (1893), introducing the brand to an American market, and he created the LV monogram (1896) to honour his father and further deter imitators. The monogram features interlocked “LV” initials in gold, alternating with diamond points and quatrefoil flowers on a chocolate brown canvas.

Becoming LVMH

By the 20th century the Louis Vuitton brand had become synonymous with a luxury lifestyle. Under the stewardship of Georges Vuitton’s son, Gaston-Louis Vuitton, it expanded its offerings to include luxury leather goods, and under Gaston-Louis Vuitton’s son-in-law, steel magnate Henry Racamier, the brand grew from a family-run business into a global brand with stores around the world. In 1987 Racamier announced the merger of the company with Moët-Hennessy, the French champagne and cognac producer, creating LVMH Moët Hennessy Louis Vuitton. By 1990, however, Recamier had been ousted from the conglomerate in a hostile takeover by Bernard Arnault, who became CEO. By the 21st century, Arnault had grown LVMH into the largest luxury-products company in the world, and the Louis Vuitton brand included a full fashion range featuring the work of top designers, including Marc Jacobs and Virgil Abloh. It frequently topped the list of the world’s most valuable fashion brands.

У Європі вперше з’явилася компанія з ринковою вартістю понад $500 млрд

Холдинг LVMH (Louis Vuitton Moët Hennessy), який володіє брендами Louis Vuitton і Dior, став першою європейською компанією, ринкова вартість якої перевищила $500 млрд. Цьому сприяли зростання попиту на предмети розкоші в Китаї після скасування карантину і зміцнення євро щодо долара, пише Bloomberg.

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Лише два тижні тому завдяки різкому зростанню продажу на початку року LVMH увійшла до десяти найбільших компаній світу.

“Для європейського фондового ринку LVMH та його французькі конкуренти у сфері розкоші є тим, чим великі технологічні компанії для США: домінуючими підприємствами, чий ріст тримається навіть у той час, коли економіка занепадає. Це очевидно з рейтингу глобальної ринкової вартості, де домінують технологічні компанії, а LVMH став останнім учасником, посівши 10-те місце”, – зазначає Bloomberg.

Разом із ринковою вартістю LVMH зросли статки його президента – найбагатшої людини у світі Бернара Арно. Згідно з рейтингом мільярдерів Bloomberg вони становлять майже $212 млрд.

Акції паризької LVMH вранці у понеділок подорожчали до 903,70 євро, що оцінює компанію у 454 млрд євро ($500 млрд).

Попит на продукцію LVMH, зокрема сумки Louis Vuitton, Moet & Chandon Champagne та сукні Christian Dior, зберігся, попри стрімку інфляцію та зростання процентних ставок, які загрожували спричинити рецесію у світі.

• У 2018 році Louis Vuitton став першим у світі люксовим брендом вартістю $10 млрд. Наприкінці січня компанія повідомила про рекордний прибуток за 2022 рік. Акції LVMH рекордно зросли 17 січня, що вперше забезпечило холдингу ринкову вартість в 400 млрд євро і закріпило її на позиції найдорожчої компанії в Європі.
• У середині квітня президент LVMH Бернар Арно відірвався від Ілона Маска у рейтингу мільярдерів, заробивши за день $12 млрд. Таким чином, різниця між першим і другим місцем у рейтингу мільярдерів Bloomberg Billionaires Index збільшилася до $30 млрд.