Vuitton Scraps Plans for New Tokyo Flagship
Earlier this month my colleague Deirdre Woollard reported that Louis Vuitton had cut its prices in Japan by 7 percent in an effort to boost flagging sales. Now parent company LVMH has scrapped plans for a brand new Vuitton flagship store in Tokyo's glamorous Ginza shopping district. The 10-floor luxury behemoth complete with restaurant had been slated for opening in 2010, Reuters reports. An official for the developer, Hulic Co Ltd, said the proposed building would probably still be constructed for a different high-end brand. An LVMH spokesman confirmed that Louis Vuitton had withdrawn from the project but "declined to explain the decision or comment on its plans."
PHOTO: Dog Guards Dead Victim's Body After Oklahoma Tornado Disaster
Live from Microsoft's New Generation Xbox event!
Demi Looks FANTASTIC In A Bikini
Xbox Reveal liveblog on Joystiq
Dozens Killed in Oklahoma Tornado; Death Toll to Rise
Man Reportedly Beheaded In Brutal Assault In London Neighborhood
Xbox One architecture panel liveblog!
H&M's Plus-Size Model Jennie Runk Says She Chose To Gain Weight
Mother Dies With Infant During Oklahoma Tornado
Okla. Sheriff's Deputy Finds Dog Guarding Body Buried Under Destroyed Home
U.S. Acknowledges Four American Citizens Killed In Drone Strikes
The List #0147: Escape a Car Underwater
South American 'Crazy' Ants Are a Threat in Southern US
Wolf Blitzer's Embarrassing Moment With Tornado Survivor
Selena Gomez Leaving Justin Bieber's House: Booty Call Rumors Swirl
Singer Sues McDonald's, Claims Chicken Sandwich Incident Ruined Her Voice
Help For Heroes Killing
The World's Most Powerful Women
PHOTOS: Christie Brinkley Gets Back Into A Swimsuit At 59 Years Old
PHOTOS: Tornado Aftermath Leaves Trail Of Destruction
NY Times Eviscerates Obama White House
Who Won 'DWTS'?
White Father Allegedly Suspected Of Kidnapping Biracial Daughters
WATCH: Tornado Victim Finds Dog During CBS Interview
PHOTOS: Tornado Devastates Moore, Oklahoma
CBS Reporter's Grave Allegations
Rescuers Continue Search For Tornado Survivors
Oklahoma Senators Face Difficult Options On Disaster Relief
Grossed Out Student Finds "Worm" In His McMuffin
PHOTOS: Tornadoes Wreak Havoc On Central U.S.
CBS Pulls 'Mike & Molly' Tornado-Set Finale
Reader Comments (Page 1 of 1)
Jason Dec 16th 2008 8:36PM
They do not even have enough SKUs to justify the square footage. This building will be better suited for a department store with multiple brands. LVMH may not be as profitable, for 2008, as they had stated in press releases at the beginning of the economic crisis.
Bill Dec 17th 2008 8:49AM
I agree with you; LV by itself doesn't have enough SKUs to justify that sort of square footage. However, the fashion and leather goods brands that are part of LVMH group most certainly would.
I'm actually surprised that LVMH didn't take the multi-brand store route as opposed to scraping the entire plan. Perhaps their board felt it would damage the perceived the allure and exclusivity of their brands by placing them all under one roof though.