One thing is clear, the Chinese don’t like to waste time and money over petty things. Once lockdowns ended and COVID-19 restrictions eased they didn’t ‘bat’ an eyelid before hitting the luxury stores hard! We first learned about a single Hermès store in China clocking in $2.7 million in sales on the very first day of its reopening. And now China’s favorite luxury brand Louis Vuitton is on track to make sales history in China amid a strong COVID-19 rebound. Credit it’s amazing product line or the appointment of Kris Wu as its global brand ambassador; Louis Vuitton is creating a buzz in the country like never before! The buzz is so big that its flagship in Shanghai’s Plaza 66, which is also the largest LV store in China, is expected to make $22 million in August, according to local financial information platform Xueqiu. Believing the words of a sales representative at the mall, Louis Vuitton does good business every month in the range of $11 million and $13 million; but the month of August has set new records by documenting the highest monthly sales figure in China’s history. Louis Vuitton had already made a mark on its consumers’ wish list with an impressive men’s spring 2021 show held in Shanghai at the beginning of the month, which also set its own record for livestreams in China.
One record led to the other and showgoers flocked to the Plaza 66 store to pick up head-to-toe new season looks for the event of the summer, which boosted sales to record-high sales. One can also blame the ‘YOLO’ ideology that has stirred into our systems thanks to the never-ending coronavirus catastrophe. People don’t want to wait for an occasion to buy a luxury Louis Vuitton bag. These factors coupled with Qixi Festival, the Chinese Valentine’s Day, and pent-up demand for luxury goods were key factors driving up August sales.
[Via: WWD – Sub reqd]
