Louis Vuitton’s largest Shanghai store smashes record with $22 million sales in August 2020
Louis Vuitton is set to make sales history in China amid a strong COVID-19 rebound. Its flagship in Shanghai’s Plaza 66, the largest in China, is expected to make $22 million in August, according to local financial information platform Xueqiu. A sales representative at the mall confirmed the number’s accuracy. In a typical month, the representative said, sales at the store come in between $11 million and $13 million.
Though Louis Vuitton declined to verify the number, it’s believed to be the highest monthly sales figure in China’s history. The record-high sales tally was boosted in part by the brand’s men’s spring 2021 show held in Shanghai at the beginning of the month, which set the record for livestreams in China.
The spectacle, which featured giant inflatables and models stepping out of cargo containers, generated more than 100 million views across multiple platforms worldwide, including 68 million views on microblogging site Weibo, 18 million on Douyin, China’s version of TikTok and 8 million on Tencent.
Local press said show goers flocked to the Plaza 66 store to pick up head-to-toe new season looks for the event of the summer, which helped send sales up.
Qixi Festival, the Chinese Valentine’s Day, and pent-up demand for luxury goods were also key factors driving up August sales. The event has been a national phenomenon, with shoppers queuing outside luxury stores in recent weeks to get a hold of limited-edition items that brands have released exclusively for the world’s biggest luxury market.