If the main goal of luxury brands is now to attract Chinese consumers to the shops in the People’s Republic, Louis Vuitton in Shanghai hit it right. In August, its largest Chinese flagship store, the “Shop 136, Plaza 66, Nanjing West Road” (Shutterstock photo), reached 22 million dollars in revenues. Although the maison has not confirmed the numbers, it is believed to be the highest monthly turnover in the history of China for a luxury fashion boutique.
Louis Vuitton in Shanghai
The store’s collection value emerges in a feedback from Xueqiu, a local financial information platform. A sales rep at the mall confirmed the figure to WWD, adding that, on average, the store has revenues between 11 million dollars and 13 million dollars per month.
This surge to the box office was driven by LV men’s show for spring 2021, held in Shanghai earlier this month. In conjunction with the event, the record for livestreams in China was established, exceeding 100 million views on different platforms around the world.
Among the factors that contributed to the collection record there are also the Qixi Festival, that is the Chinese equivalent of Valentine’s Day, and the thrust of revenge spending. Combined, these two elements have led to many consumers queuing outside luxury stores to grab limited edition or exclusive items.