THE WHAT? Louis Vuitton is said to be looking to open its first duty free store in the luxury island hub of Hainan, according to a report by Reuters.
THE DETAILS According to two sources, Louis Vuitton will possibly open a duty free shop in the Haitang Bay shopping centre, located in Sanya. This will be developed through an agreement with the mall’s state-owned operator, China Duty Free Group.
The plan was said to have been unveiled at a presentation, which took place in September in Shanghai.
THE WHY? The development would indicate a strategy shift for the luxury fashion house, which has famously refused to offer discounts on its products.
It is said to help the brand capitalize on the growing demand for luxury goods from Chinese shoppers.