Did you know that Louis Vuitton started off as just a trunk maker at the age of 16 while he was homeless? This teenager who went against all odds was able to pioneer modern luggage and lay the foundation for a trans-generational billion-dollar empire. Constantly reinventing and improving his craft from his teenage years, Louis survived two World Wars. The Louis Vuitton brand from its inception to now is a household name that everyone around the world knows. Founded in 1854, Louis Vuitton now ranks as the number one luxury brand in the world. It is now worth over 300 billion dollars.
A Visionary with a Plan
Born in Anchay, France, to a farmer and hat maker, Louis grew up a hard worker. He started working on the farm and stockpiling firewood at the age of six. Unfortunately, when Louis was 10, his mother passed away. He had a complicated relationship with his stepmother, who never missed an opportunity to make his life miserable. At 16, Louis made a resolution and left home. He made his way to Paris by foot, arriving penniless with only a cloak to keep him warm at night.
Apprenticeship and Mastery
Homeless, Louis would sleep along the streets or in the woods. He was immediately drawn to artists and craftspeople. Even though he was poor, he was happy to take on jobs to gain valuable skills. He learned to work with stone, metal, fabrics, and food. This was the time when the first railway line to Paris was opened. Travel had just become accessible, and lots of craftsmen were beginning to see the opportunity in front of them.
The Birth of a Business
Louis wasted no time joining the trunk-making industry. He was hired as an apprentice by Monsieur Marechal, a skilled trunk maker. He spent 17 years with Marechal, honing his technique. Having become a favorite of his employer’s clients, he was eventually made the personal box maker of the Empress of France in 1851. By this point, Louis had become so popular that he was able to start his own business. In 1854, he got married to 17-year-old Clemence-Emilie Parriaux.
Innovation in Luggage Design
The first trunks at the time were made of leather and had a dome-shaped lid. The lids were designed so that water would run off the top rather than soak into the trunks. Louis figured that a flat-top trunk would make travel boxes easier and faster to load. To tackle the leather problem, Louis experimented with other possible materials. He discovered that the missing piece of the puzzle was canvas. Compared to leather, canvas was lighter, more durable, and water-resistant.
Expanding the Business
Louis brought his son Georges into the business. Georges instantly began to create value by making the very first secure tumbler locks that became the signature of the Louis Vuitton trunk. Following the Franco-Prussian War, the father and son were forced to restart their lives. They utilized what little money they had left to open a new business in an expensive neighborhood. Within months, business was thriving again. Louis did not relent and went on to experiment with even more adventurous ideas.
The Legacy Continues
Louis extended his business by opening a store in London. This increased demand not only from society’s elite but also from royals. Louis passed away shortly after at the age of 72. Bringing Georges into the business paid off as the business did not suffer along with the death of its founder. Georges took on a more active position as a leader by traveling to the United States. He knew that the products were good enough to become a household name all over the world.
The Iconic LV Monogram
Georges introduced the LV monogram in honor of his father. This revolutionary design sent shockwaves around the world. Products manufactured with that design sold faster than ever before. The second World War broke out and consequently halted the business. By then, Georges had just passed, and his son Gaston had stepped up to the lead. Gaston had big shoes to fill and was off to a very rocky start.
Overcoming Challenges
The company had to shut down all factories and stores during the war. By the time the war ended, it had taken a toll on Gaston. He handed over the business to his sons Henry, Jacques, and Claude. They did not bring anything new to the table, and as a result, the business stagnated. Their sister’s husband, Andre Racine, who already ran a steel trading company, was notably a savvy businessman. The Vuitton brothers put him in charge in 1977.Expansion and Growth
Expansion and Growth
Racine immediately pivoted Louis Vuitton from wholesale to retail. He ventured into the Asian market and notably opened stores around the world. Within the next seven years, sales skyrocketed from around 20 million dollars to over 250 million dollars. By 1987, Louis Vuitton reached almost 1 billion dollars in sales. It became part of a luxury goods conglomerate after a merger between Louis Vuitton and Moet Hennessy. This conglomerate is headed by Bernard Arnault.
The Recipe for Success
The key ingredients for Louis Vuitton’s success are quality, exclusivity, and innovation. The founders always placed a premium on quality despite the odds. Louis recognized the importance of mastering his chosen craft. The brand remains significantly important, and each Louis Vuitton bag is still intricately and uniquely created. The exclusivity of products attracts potential customers by creating an illusion of scarcity. More people want to own a piece of Louis Vuitton, even to the point of purchasing counterfeits.
A Bright Future
Innovation has also played a crucial role in Louis Vuitton’s success over the years. Louis proved to be way ahead of his time when he first introduced the flat-topped trunk. Georges followed in his father’s footsteps by inventing the first tumbler-based lock. The label has mastered the technique of adapting to current trends while remaining true to its historical roots. Collaborations with artists and designers such as Takashi Murakami, Pharrell Williams, and Jeff Koons have kept the brand relevant. Louis Vuitton will still be relevant to its patrons for many years to come.
