LEADERSHIP CORNER
Louis Vuitton executive sees strength in Waikiki developments
Interviewed by Debbie Sokei
Advertiser Staff Writer
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Title: Executive vice president and chief operating officer of Louis Vuitton Hawaii
Age: 42
Organization: Louis Vuitton Hawaii. Has been with LVMH Group since 1996. Transferred to Hawai'i nearly two years ago after working for LVMH locations in Hong Kong, Singapore and Guam.
High school: King Henry VIII School in Coventry, England
College: Loughborough University of Technology, England. Received his bachelor's degree in economics and accounting and is a member of the Institute of Chartered Accountants in England and Wales, which is equivalent to a certified public accountant certificate.
Little-known fact: I have an interest in genealogy. I have been trying to trace back our family's lineage, which is something my grandfather started doing while he was alive. My family is Scottish, but our last name is Irish. This is something that I do when I have some spare time. Every now and then when I have an hour, I get on the Internet and look up names.
Breakthrough job: Joining the LVMH Group in Hong Kong. I was working for an accounting firm at the time before I joined Christian Dior in 1995 as the regional financial controller.
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Q. Have you always been in retail?
A. I haven't worked in retail before but have done some accounting work for retail companies. I was a group manager with Ernst & Young in Hong Kong before I joined Christian Dior, which is also part of the LVMH Group.
Q. After Sept. 11, 2001, there was a drop in the number of Japanese tourists coming to Hawai'i for their vacations. Did your company have to ramp up its marketing efforts to lure them back?
A. Certainly there are less Japanese tourists visiting Hawai'i, and we have seen some decrease in the level of Japanese visitors to our stores. But we have also seen a continued strong interest from Japanese tourists, which is an indication of the strong business that we developed and sustained in Japan.
Our strategy is to develop the market globally, and whether people are local to Hawai'i or traveling here we consider them our local market since we have stores in many parts of the world. We don't differentiate among our clientele.
Q. How big is the Waikiki retail store?
A. We own the old Gump Building in Waikiki. LVMH purchased the building in the early 1990s, and it's been our home ever since. It's about 10,000 square feet. This year Louis Vuitton will be celebrating its 150th anniversary, and we have a number of new product lines that we will launch to celebrate our anniversary, such as the new travel line called Damier Geant. We will also have a number of global and local celebration activities we'll share with our customers.
Q. How many Louis Vuitton stores are there in Hawai'i?
A. We have six stores in Hawai'i. There are three on O'ahu, two on Maui and one on the Big Island.
Q. Do you plan to open a store on Kaua'i?
A. We had a store on Kaua'i, but closed it after Hurricane 'Iniki. We do see a lot of recovery on Kaua'i and we will continue to look at opportunities as they come up.
Q. Who do you consider to be your competition?
A. For a brand like LVMH, the main competitor or challenge comes from ourselves. We have a strong identity. We need to continue to find the right strategy and develop our strengths that enabled us to grow. ... In the luxury market, all of the strong brands — Hermès, Chanel Boutique, Gucci and Tiffany & Co. — have each developed their own identity. To a large extent the luxury market is created by each brand, and retailers that are able to maintain and develop their relationship with their customers will continue to show strong results even when the economic environment is not favorable.
Q. Do you think the local market can sustain all of the luxury stores?
A. I believe there is a market here. The market will be driven to some extent by the sum of the strengths of each of the brands and how well they can create additional interest rather than the fact there is a pie that everybody is trying to share a part of.
Q. Do you think Waikiki needs to be redeveloped to attract more shoppers to the area?
A. Waikiki has begun to undertake the rejuvenation that was needed, and we are seeing a strong collaboration and cooperation between the government, Waikiki business owners, and the retail and hotel sectors. It is very encouraging and certainly something that will be beneficial, particularly when you measure Waikiki's developments against what is happening in other retail destinations such as Rodeo Drive in Los Angeles, Fifth Avenue in New York and Omotesando, Tokyo.
Q. On average, how much would a customer spend at Louis Vuitton?
A. There isn't an average receipt. One of the strengths of the brand is we offer a broad product line. We have a $120,000 trunk and a $65 key chain and we have a lot in between. Since the development of our fashion line in 1998. we have developed a much broader appeal.
Q. Besides building relationships with your customers, what is Louis Vuitton's involvement with the community?
A. We understand the importance of participating in the local community in terms of giving back to Hawai'i as well as recognizing our own employees. For the last 21 years we have sponsored the Louis Vuitton Golf Cup Charity Tournament and raised over $2.2 million for charities. We have maintained a close relationship with the Hawaii Youth Symphony and this year we are the presenting sponsor for the spring concert series. We are also the presenting sponsor for the Louis Vuitton Hawaii International Film Festival and Louis Vuitton Creative Arts Program at the Rehabilitation Hospital of the Pacific.
