French Fashion Label Louis Vuitton Plans To Open First Homeware Store In China: Report - Lvmh Moet Hennessy Louis (OTC:LVMHF)

French luxury fashion house Louis Vuitton, part of LVMH LVMHF, is planning to launch its first furniture and homewares store in Shanghai.
The showroom, Reuters reported, will serve only on appointment basis and is expected to open on November 28.
The move is Louis Vuitton's attempt to expand its lifestyle offerings to affluent Chinese customers.
The store will also feature the brand's first Chinese collaborator, Frank Chou's designs.
"LMVH is striving to ... reposition itself as a contemporary luxury brand by tapping new avenues that resonate with dynamic Chinese Millennials and Gen Z consumers," the report cited GlobalData consumer analyst Bobby Verghese.
"Unlike their predecessors who prioritized privacy, the Gen Y digital immigrants and Gen Z digital natives are not averse to flaunting their lifestyles on social media."
Luxury brands in China are finding new ways to reach wealthy customers as economic curbs due to COVID-19 pandemic hurt businesses.