Louis Vuitton opens jewellery store on Place Vendome in Paris
July 2, 2012 – Louis Vuitton opened a jewellery store on Place Vendome in Paris on July 2, hoping to tap in to a fast-growing market for luxury.
The move towards jewellery allows the French brand to capture a market that some analysts believe is set to grow faster than other luxury segments.
The global jewellery market is worth about 40 billion euros ($50.76 billion).
A study by Bain says the market could grow by 10 percent a year until 2014, faster than apparel or perfume and cosmetics.
LVMH, the world’s biggest luxury goods group, recently bought Italy’s Bulgari for 3.7 billion euros, increasing LVMH’s in-house watch and jewellery expertise.