--FILE--ciclisti corsa biciclette elettriche passato una boutique alla moda di Louis Vuitton (LV) in Cina a Shanghai, 12 maggio 2015. Per contrastare il calo delle vendite in th
--FILE--Cyclists ride electric bikes past a fashion boutique of Louis Vuitton (LV) in Shanghai, China, 12 May 2015. To counter declining sales in the China luxury goods market, the LVMH group, now the world's largest luxury goods conglomerate, is actively diversifying to attract young consumers, including venturing into food catering services, reports Guangzhou's Time Weekly. Although LV (Louis Vuitton), the largest brand under the group, remains the most popular luxury brand in China, it is losing its attraction for consumers in China's largest cities, who are moving to rivals Prada and other brands. Given this, the LVMH's foray into the food business is likely to help the conglomerate explore a new consumer base, according to Zhou Ting, president of the Shanghai-based Wealth Quality Research Institute. Sales revenue of LV products in the Asia-Pacific region, mainly the China market, declined by 1% in 2014, including a larger drop of 6% in the fourth quarter alone, making the region the only market to see negative sales growth, according to statistics released by the company in February this year.
