PARIS, France - Famed for its iconic folding Le Pliage handbags, the leading French luxury brand Longchamp is exploring various strategies to drive growth in the ever-changing global fashion industry.
The luxury brand, which was established in 1948, continues to remain one of France's leading handbag makers.
Over the years, Longchamp has managed to survive, owing to its prominent global presence and immensely popular products, despite being one of the last remaining independent family-owned leather goods makers in France.
Currently, the French luxury brand boasts of a worldwide store network that comprises of 1,500 sale points in department stores and 300 of its own shops.
Commenting on the company's current position and future plans, Longchamp Chief Executive Jean Cassegrain pointed out that the company's growth has slowed down.
Cassegrain, who is the grandson of the firm’s founder, reportedly said that the French handbag maker, tripled its sales over the previous decade but in 2016 and 2017, its growth has been "less vigorous."
As part of its efforts to revive sales, Cassegrain has now unveiled the company's plans to expand its offerings in its second-biggest market - China.
On Saturday, the Longchamp CEO said that it was planning on increasing its presence in China and the United States.
The company's growth is said to have taken a beating following the Islamist militant attacks in 2015, which not only sunk tourist numbers in France but hit businesses too.
Cassegrain reportedly revealed in the interview that the company is now aiming at charting better growth in the broader luxury industry.
Further, he revealed that the company's plans to expand its offerings in its second-biggest market - China, is aimed at reviving sluggish sales.
The company, which recently picked American celebrity model Kendall Jenner as the face of its campaigns, is also planning to open more stores in the U.S.
In addition to expanding in key markets, Longchamp is reportedly also planning to launch its own eCommerce platform in 2019.