Last week, at our usual girl’s night out dinner, we discussed the usual- boys, school, work, and nonetheless, fashion. In particular, we were talking about hand bags. We were comparing each other's handbags to see the difference in quality, the material, the price, etc. My girlfriends were complaining about their Gucci handbags and how over time, the threads on the G logos were beginning to unravel (P.S. They are authentic bags). I was carrying my Louis Vuitton Damier Duomo, which I had since June of last year. I told them how durable my bag was; it has trekked through the snow, rain and sleet with me and has experienced some beautiful sunny days as well. I told them that I have not encountered a single problem with any products from Louis Vuitton because they are hand crafted with precision and care. Louis Vuitton is owned by its parent group, LVMH Moët Hennessy, the world’s largest luxury conglomerate. Their mission statement is found on LVMH’s website and it states the following:
“The mission of the LVMH group is to represent the most refined qualities of Western ‘Art de Vivre’ around the world. LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation, and kindle dream and fantasy.”
After reading this mission statement, I said to myself, “Wow, that mission statement pretty much summarizes what comes to my mind when I think of Louis Vuitton.” This made me think about the important role a mission statement played in a company. I then came up with the following on what questions should be answered in a good mission statement:
· What kind of products or services do we offer?
· How will our customers remember us?
· What gives us a competitive edge over our competitors?
· What kind of problems, needs or wants do our products solve for customers?
In the case of LVMH’s mission statement, their mission statement answers these questions. LVMH offers avant garde luxury goods that distinguish itself from other high fashion companies. Through their innovation and creativity, they fulfill the wants and needs of customer that are looking for exquisite luxury goods. In my opinion, Louis Vuitton’s mission statement goes hand in hand with their vision of their company, their products and their customers.
After our long dinner, my girlfriends and I bid our farewells to one another. As I was leaving, I could still hear them in the back complaining about their Gucci handbags. I looked down at my Louis Vuitton handbag, smiled and whisked away with Louis on my arm.
Last week, at our usual girl’s night out dinner, we discussed the usual- boys, school, work, and nonetheless, fashion. In particular, we were talking about hand bags. We were comparing each other's handbags to see the difference in quality, the material, the price, etc. My girlfriends were complaining about their Gucci handbags and how over time, the threads on the G logos were beginning to unravel (P.S. They are authentic bags). I was carrying my Louis Vuitton Damier Duomo, which I had since June of last year. I told them how durable my bag was; it has trekked through the snow, rain and sleet with me and has experienced some beautiful sunny days as well. I told them that I have not encountered a single problem with any products from Louis Vuitton because they are hand crafted with precision and care.
6 comments:
I agree that LVMH has an effective mission statement, However, its too long. How will our customers remember us? · What gives us a competitive edge over our competitors? · What kind of problems, needs or wants do our products solve for customers? .
Why must a mission statement be geared to the customer. Think about it, if your buying a bottle of coke are u going to go on the web and look at what coke's mission statement is? Or if you are going to buy a car made by GM or Ford, is the mission statement going to tell the buyer about the real quality of the car?
I agree Louis Vuitton is an example of a good mission statement. It mentions what business it is in and what differentiates them from other products. The mission statement is not too long and straight to the point. Louis Vuitton is a luxury product and its mission statement refers to it as so. The mission statement mentions that their products bring elegance and creativity. When thinking of a Louis Vuitton products one thinks of good quality, high end and unique which goes in line with their mission.
I must agree, this mission statement draws your attention upon first reading it.This company definetly sets itself apart from its competitors.It does have some style and elegance. All in all i agree
Hi, this mission statement is catchy i want to say but it only targets consumers and not the investors and it doesnt really tell you what its future goals are, but despite all of that, i think this is a good mission statement for such a business.
I agree with your analysis. LV is one of the well known brand. Personally, I think the designers are really working along with company's mission statement,elegance and creativity. The products look so simple yet noble, "blend tradition and innovation".
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