Italian luxury brand Fendi "shows" Great Wall in October

It is reported that Italian luxury brand Fendi will perform in the Great Wall of China in October because its parent company, LVMH Group, hopes to double its sales in China in 2008.

Bernard Arnault, president of LVMH, saw the potential of Fendi and hoped that Fendi would become a star brand of LVMH, just like the LouisVuitton bag and TagHeuer watch. “We are interested in this.” Fendi’s CEO Michael Burke told the French newspaper Les Echos, “If we don’t have a strong Italian fashion brand, we will not be able to cast a global luxury goods group.”

It is reported that Fendi sales in 2006 was 350 million euros, the company plans to push sales in 2008 to 700 million euros, and get 20% of profits. Fen鄄di’s core business shoes and purses accounted for 60% of total brand sales, while fur and clothing accounted for 30%. And the brand also recently launched the first perfume, Palazzo.