According to two sources, the luxury giant is considering opening its first duty free store in China on the emerging luxury island hub of Hainan.
Louis Vuitton is the main profit engine of French luxury giant LVMH, and is known for its iconic leather monogrammed bags. The brand is known for maintaining an iron grip on distribution and famously, never discounts their iconic bags, however, in a new move for the brand, executives are looking at the possibility of opening a duty free shop in the Haitang Bay shopping centre in Sanya through an agreement with the mall’s state-owned operator, China Duty Free Group.
The move into the duty free sector would help Louis Vuitton capitalise on pent-up demand for luxury goods in the Chinese markets. Plans were unveiled by brand executives at an early September presentation in Shanghai and the company recently provided a statement saying that it is exploring opportunities in Hainan but is not currently considering options within the duty-free market.
Currently, China Duty Free Group has not commented on the news.
