One of the best known luxury shoe brands Christian Louboutin will be opening at least two stores in China by the end of 2011. The French brand has plans of opening at least five stores in China over next three years and intends to expand business in India and Brazil too. This clearly indicates the shift in marketing strategy of luxury brands. They are now shifting focus to growing economies in Asia and South America where household incomes are rising and there is an increased trend of luxury spending. On the other hand luxury high end markets in America and Europe have been adversely affected by recession.
One just has to wait and see whether these high end exclusive luxury brands will have buyers in Asia. A pair of Christian Louboutin costs at least $2000 and it has Angelina Jolie and other Hollywood big names on its client list. More over people in China or India may not like high heeled shoes for which the brand is renowned. It has to create new styles and range of shoes for its clientele in Asia.
In competitive world, it is good news indeed that brands are now open to ideas of exploring new shores. Christian Louboutin first store in China will open in Beijing in July 2011 and next one will be Shanghai. High end luxury buyers in these places will not have to fly out to other countries in search of brands, brands will be coming to their nation to cater to their needs.
Via Bloomberg
