Thursday, April 26, 2007

Louis Vuitton to buy 20% share of Hidesign

Global luxury brand LVMH is looking to take on competition from Japanese luxury bag makers and is buying Indian bag manufacturer Hidesign, to position its products against it's competitors in the Japanese market. The company use the Hidesign brand against Coach in the Japanese market, and will focus on creating a niche for it as an affordable luxury brand in department store. Dilip Kapur, president of Hidesign said that, “Our partnership with Louis Vuitton is at the operational, marketing and design front but all decision making will be ours. In addition to the equity stake, there is an understanding of mutual aid between the two brands.”

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