Yet another victim of ongoing global economic slowdown, this time Louis Vuitton. According to media reports, the French luxury brand has dropped its plan for a massive flagship store in central Tokyo.
“An agreement on building the store was off”, confirmed company sources.
Earlier, Louis Vuitton had planned a 12, 000 square meters with 12-floor store along a major street in Tokyo’s glitzy Ginza district.
Louis Vuitton considers Japan as its most lucrative market as estimated a third of young Japanese women own handbags or other apparels from the retailer.
— IndiaRetailing Bureau