Louis Vuitton store of Marriott Hotel sells 12,000 euros’ worth of handbags per day

Louis Vuitton luxury industry giant generated turnover worth 4.4m euros (18.8m RON) in 2009, in the first year of full presence in Romania, up 51% from 2008, when its turnover reached 2.9m euros (10.7m RON), in line with Trade Registry data. The company, employing 10 people, posted income worth 500,000 euros. Louis Vuitton entered the Romanian market in June 2008, with the 130-sqm store being opened in the gallery of Marriott 5-star hotel in the wake of investments worth above 1m euros. The price of a Louis Vuitton handbag starts from 1,500 euros and can go as high as 20,000 euros. The store also sells accessories and footwear. The luxury fashion segment has not been as seriously hurt by the financial crisis as the one targeting medium and above medium-income consumers, though it has seen its growth pace slow down significantly. This year, two major names of the luxury industry, Emporio Armani and Gucci, are expected, both in Victoria Square.