Louis Vuitton’s plan to make their factories environmentally friendly…
Louis Vuitton is one of the oldest luxury fashion brands in the world. Ever since 1854, Louis Vuitton has been one of the most fashion-forward brands. And now, they have celebrities like Kanye West, Selena Gomez, and others repping their brand. But, there is stiff competition from the likes of other fashion designers like Gucci, Prada, Saint Laurent, Hermes, and more. On top of that, they face regulations from government unions that look to curb pollution in order to make Earth more sustainable.
Factories in France In order to cut lead times and improve its supply chain, Louis Vuitton plans on building at least 2 new factories in western France. These factories plan to help keep the parent company, LVMH, up to date with increasing high fashion demand, especially within its Asian market. Now Louis Vuitton will have 16 separate French leather workshops. Louis Vuitton also has plants in other areas including the US, Spain, Portugal, and Romania.
Environmental Goals Along with expanding its production capacity, Louis Vuitton also is concerning itself with being an environmentally sustainable company. While it has focused on the environment before with its creation of L.I.F.E, or LVMH Initiatives For the Environment- a program that intends to lower their CO2 emissions and make the factories more environmentally friendly-there is a new L.I.F.E program that intends to further the goals in 2020. Already, goals have been exceeded as factories are using more than 10% renewable energy, which intends to triple by 2020. Also, they intend to double their carbon funds by 2018.
Louis Vuitton and their group, LVMH intend to keep their place on top of the luxury fashion market. According to Forbes, Louis Vuitton is the 15th most valuable brand of 2018, with a brand value of almost $34 billion! And to keep that top spot Louis Vuitton has decided that because so many people now shop online, they need to increase their supply chain efficiency so that people can get their products sooner. On top of that, they believe in being an environmentally friendly company by having their factories use more and more renewable energy. Along with their successful portrayal in modern-day media, it looks like Louis Vuitton is sure to stay at the top of the luxury market for a while to come.