Internal Analysis Of LV
The details of Value Chain model on how LV create values between consumers and the company are generally as below.
- Human Resource Management
To maintain the high end brand position, LVMH group has very high requirements for recruiting. Also, most of the LV staffs are highly paid by the brand in order to motivate their staffs to keep offering high quality services to the end-user continually.
LV owns their in-house designer and manufacture in order to have fully control on production. There are around 17 leather goods manufacturing houses mainly located in French and the rest are in Spain & US while they also purchases raw materials from suppliers from all around the world.
- Technology development …show more content…
Through those famous actors, film stars,or supermodels can create huge consumers attention. Such as LV 2014 Spring/Summer campaign, they are focusing young generation target group who like to travel and discover the world. Therefore, the photo section took place in South Africa and the campaign 's main purpose is to show easy travelling with LV bags, somehow the younger people want to own one LV travel bags instantly. Actually, when LV opens their new Shanghai flagship store in China which is the largest store in mainland. They held a global opening message listing on the front-page ads in all newspapers such as China Daily, Shanghai Daily and the New York Times which really can help to create bigger …show more content…
They established after-sales service centre in each country in order to manage or repair defected goods. That’s why LV has always claim that they can offer a lifetime guarantee to their end users. Sometimes if you want to personalize your LV bag and thereby making it more unique for accommodating your personality. LV provides a number of various services like you can get your product stamped with your personal initials or giving tailer made products service to VVIP.
In general, competency of framework is an exercise to mix and match all HR processions from selection, development to career transition. LVMH is a typical firm threat competency as foundational to recruit workers and they classify it as one of the main strategic. In the beginning, they will select suitable candidates who perfectly fit the role responsibilities and create a series of objectives for employees to achieve. Afterwards, they offer many trainings for general staffs to develop new skills in order to increase their work satisfaction and performance accordingly.