Comparative Analysis of Luxury Brands-Take Louis Vuitton and Burberry as Examples

For hundreds of years, people worldwide have been consuming luxury goods. With the in-depth implementation of world economic integration, people’s consumption power is constantly improving, including those in less developed countries and regions. Coupled with the continuous increase in population and the change of consumption concept, more and more people have begun to enjoy Luxury goods. As a result, luxury brands start to lose no time entering more markets, unexpectedly achieving great success. But at the same time, with the improvement of economic level and consumption level, and though consumers are becoming more and more rational, product homogenization is becoming more and more serious. So even Luxury products cannot meet the requirements of consumers, and consumers attach much more attention to the image of products and their symbolic function when shopping. Based on these factors and according to the definition and characteristics of luxury brands in academic circles, this paper uses the brand theory to discuss the brand history and concept of LV and Burberry and draws a conclusion that LV is more significant to provide suggestions for other Luxury goods and everyday consumer goods than Burberry.