Louis Vuitton 2002 Annual Report Download - page 84

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LA SAM ARITAINE
Acquired by LVMH in April 2001,
la Samaritaine defined an ambitious develop-
ment strategy that will be implemented with
the Group’s support. A new executive team was
installed to carry out and support this initiative.
The year 2002 laid the groundwork required to
begin the process to relaunch la Samaritaine,
notably by closing the “do-it-yourself ” depart-
ment, which generated heavy losses. This clo-
sing impacted net sales in 2002, but it will allow
reallocation of the space to the ready-to-wear
apparel lines in 2003.
La Samaritaine is totally redefining its identity.
From a store heavily geared to everyday
products with a largely male customer base,
la Samaritaine is being transformed into a
quality department store focused on fashion and
the female customer. This transformation
will anchor both its product offer and its image
within a dynamic commercial environment
and attract affluent customers with strong
purchasing power and leading-edge tastes.
In addition, the logistic procedures will be
completely revised in 2003 to make them more
efficient and more cost effective.
The restructuring of the sales and logistical
organizations should continue until 2005.
LE BON M ARCHÉ
With a rich history dating back to the 19th
century, Le Bon Marché derives its legitimacy
from its roots as do luxury brands. In recent
years, this famous store on the Parisian Left
Bank has initiated an in-depth transformation
of its sales spaces and its image. It has become
the most exclusive department store in Paris by
instituting a very rigorous product policy, careful
service to its French and international custo-
mers, and dynamic and powerful promotional
efforts.
To leverage its image as an exceptional store,
Le Bon Marché opened up additional sales space
to new luxury brands in 2002, and expanded
its Christian Dior and Louis Vuitton boutiques.
Net sales continued to rise significantly despite
a sluggish economy. The fashion and accessories
department and La Grande Epicerie de Paris
performed extremely well.
The year 2003 will see the start of the renovation
and expansion of the women’s fashion depart-
ment. This large-scale project, to be completed
over a three-year period, will be one of the
primary growth drivers for the store.
PASSIONATE ABOUT CREATIVITY SELECTIVE RETAILING
82 •83 ANNUAL REPORT 2 002