Due to easy access to the internet, changes in fashion and rapid shift in trends, many people alter their choices to align themselves with the trends. Therefore, several factors influence people, encouraging them to invest in certain goods that are trending, ultimately causing the demand and supply of a business to alter.
Louis Vuitton is a well recognized French brand that has been around since 1854. They are well known for manufacturing their finely crafted goods that are aesthetically appealing and being labelled as a luxurious brand makes them even more popular. They’ve managed to raise their popularity through their iconic red bottom shoes and their monogram logo on their bags that create signature pieces.
Cardi B, an American songwriter, rapper, and actress has risen to fame due to some of her popular hits. One of them being, “Bodak Yellow” that came out in 2018 and won four awards and also claimed a place in the Billboard Hot 100. The song influenced Louis Vuittons sales while highlighting the red bottoms through one of it’s lyrics, “These expensive, these is red bottoms, these is bloody shoes,” and she promotes the bottoms while wearing them when riding a camel in the music video. She received her first pair from an admirer in her stripping days and now, according to her stylist, Cardi has over 90 pairs and she continues to buy a pair or one every couple of weeks. People started obsessing over the shoes and began investing in them.
Christian Louboutin was not aware of the song until a friend played it for him and he admitted to making shoes that were for showgirls as, “showgirls have kind of an attitude – they’re driving forces.” This gave character to the shoes and creates a brand image for Louis Vuitton. It also allows them to have a competitive edge in the market because it sets them apart from their competitors. Moreover, it increases customer loyalty because it builds an emotional connection with the consumer and motivates them to purchase from the same brand again. The experience of wearing the red bottoms becomes an almost personalized one and gives the company credibility as well as brand recognition.
The song was released in June of 2018 and hence the same month saw an incredible spike of 217% in searches for the shoes online. Through the song, Cardi was also able to gain $4.5 million USD in terms of media value for Louis Vuitton. This was also called, “The Cardi B effect” by a salesperson in a store as they had to double security because of the, “lot’s of young women, and a more diverse crowd then the rest of the store – it seemed to me at least.”
Louis Vuitton specifically targets women between the ages of 18-54 that have a high disposable income of $75,000+ and its heavy users (big spenders). This indicates that they maintain a relationship with their consumers because they have limited pool of buyers due to their prices. The fact that it is a luxury brand, creates publicity of its items and makes them more valued because not everyone can afford it. The brand is approximately worth 16.48 billion with a net worth of $88 billion. The company operates in 50 countries with over 460 stores worldwide which contributes to its increasing popularity.
Due to the advancements in today’s day and age, there are many ways consumer choices can be influenced. Through prominent figures becoming more popular amongst teens and young adults everyday, brands can benefit from them endorsing their items building trust in the consumers causing an acceleration in the company’s growth, especially online. Even though Louboutin didn’t dream of the fame he is surrounded by, he remains true to his art, “My job is creating beautiful shoes, the rest has became what it became,” and lets his work speak for itself.