Fashion Business and Family Dynasties Essay Example | Topics and Well Written Essays - 2250 words

Fashion Business and Family Dynasties - Essay Example The essay "Fashion Business and Family Dynasties" discovers the business and families of Hermes and Louis Vuitton. Hermes has been associated with the most wonderful luxury brands and is related to the category of women’s handbags, perfumes and jewelries. Hermes is one of the oldest firms in France that has been owned and managed by the family of Hermes. Thierry Hermes is the founder of the Hermes Group. Until 2004, the business of Hermes had been controlled and managed by the family members of Hermes. The family owned group had controlled the family stake and had shown efficient leadership to retain control over the strategic decision of the business within the family. During the period of 1978 to 2004, the Hermes Group was managed under the leadership of Jean-Louis Dumas who was the great-grandson of Hermes. In the year 2006, Jean-Louis Dumas had passed away and Patrick Thomas became the manager in Hermes. He was the ‘first non-family manager’ in Hermes in their entire history of business operations. Patrick Thomas became the first CEO of Hermes but the control was with the family members of Hermes and they retained the control to maintain the family heritage of the business. Hermes is basically known as the bag and scarf maker. They have by no means aggressively pursued any kind off strategy to develop as a luxury conglomerate and constantly remained strong in their individual space of operations. Louis Vuitton is a French based company that deals with fashionable merchandizes. ... family members of Hermes and they retained the control to maintain the family heritage of the business (Bhalla, â€Å"Disintegrating Family Firm: How Well Are You Prepared For the Ultimate†). Hermes is basically known as the bag and scarf maker. They have by no means aggressively pursued any kind off strategy to develop as a luxury conglomerate and constantly remained strong in their individual space of operations (Elite Choice, â€Å"Louis Vuitton Claims to be a Long Term Shareholder of Hermes, Raises Stake to 20%†). Louis Vuitton (Family & Business) Louis Vuitton is a French based company that deals with fashionable merchandizes. Louis Vuitton was established by the founder Louis Vuitton in the year 1854. It deals in the luxury merchandizes (Louis Vuitton, â€Å"About Us†). The Louis Vuitton brand had been famous for its LV logo that features upon most of the merchandizes of Louis Vuitton ranging from luxury chests and leather merchandize to shoes, ready-to-wea r merchandizes, accessories, books, sunglasses, watches and jewellery. Louis Vuitton is known as the leading fashion house in the international market. The merchandizes of Louis Vuitton are sold through the model of standalone boutiques, e-commerce application and lease departments that are departmental stores which represent high-end values (Louis Vuitton. â€Å"The World of Louis Vuitton†). Louis Vuitton and family have managed their entire business in the world. They started in Paris and slowly gained acceptance due to their skillful work. Louis Vuitton had developed the brand uniquely as there was duplication of the products especially in the leather bags category for travelers. After the demise of Louis Vuitton, his son Georges Vuitton controlled the business and managed all its activities. Georges Vuitton