Analysis of the Luxury Goods & Apparel and Footwear Industries Vi Nguyen

The luxury goods industry is unique in that it is an industry that relies strictly on marketing and promotion to sell products to a specified group of people. It is also an industry that is well guarded and difficult to find any information on. Although a select few are able to afford luxury goods, the vast majority of people who are exposed to advertisements for certain products generally have aspirations of being able to own these products someday. The purpose of this research is to analyze this ever-changing industry by means of an industry profile of the apparel and footwear industry, company profiles and analyses of publicly traded fashion design houses such as Burberry, Gucci, and LVMH Moet Hennessy Louis Vuitton, and an examination of the marketing strategies of these five design houses and its effectiveness. The apparel and footwear as well as the Luxury Goods industries are truly global in scope in that manufacturers can now sell different products that are produced in different countries and spanning many different continents and a multinational strategy is necessary to implement because it allows manufacturers to increase their revenues by focusing on selling their products in countries with rapidly growing economies. These industries serve two types of consumers: for the practical consumer, they provide sensibl