Louis Vuitton is considering opening its first duty free store in China on the emerging luxury island hub of Hainan, to capitalize on pent-up demand for luxury goods by Chinese shoppers
, is known for maintaining an iron grip on distribution and famously never offering discounts on its leather monogrammed bags.
Louis Vuitton originally declined to comment when asked about plans for a duty free shop in Hainan, which has boomed as a high-end shopping destination during the COVID-19 pandemic with Chinese consumers unable to travel abroad. The company provided a statement on Friday saying it is exploring opportunities in Hainan but not considering any options within the licensed duty free market.
But LVMH's higher profile fashion and leather goods brands, which include Dior, are not present in Hainan beyond selling their range of perfumes and cosmetics. A Louis Vuitton duty free shop on the island would be one of only a handful of such retail outlets worldwide for the label. The disruption in international transportation caused by the pandemic hurt the grey market driven by "daigou", professional shoppers who buy high-end products abroad - in Europe, but also in South Korea - on behalf of mainland Chinese.
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