Luxist

Another sign of our changing economy is the announcement from LVMH Moet Hennessy Louis Vuitton SA, the world's largest maker of luxury goods, that they have lowered retail prices for the Louis Vuitton brand in Japan by seven percent to boost sales. For years the Vuitton-crazed shoppers in Japan have fueled LVMH's rapid growth, together the U.S. and Japan account for about a third of LVMH's revenue. The price cuts will apply to nearly all Vuitton items including handbags and watches at the 56 stories around the country and it is hoped that the new prices will switch the downward trend which saw Louis Vuitton sales falling seven percent in Japan during the first nine months of the year. 09/12/08