Louis Vuitton Plans To Sell Perfumes

Louis Vuitton, LVMH's high-end luggage and luxury clothing brand, will start selling perfumes in September 2016. Its second attempt at selling fragrances, the first was in the 1940s, involves developing the product lineup in-house. Factors that convinced the company to again offer perfumes include the slowdown in sales of luxury handbags and watches, the economic slowdown in China, and the economic impact of terror attacks around the world. With perfumes expected to add more than $500 million to annual sales, the company plans to sell a product that smells like a suitcase.