At the inaugural LVMH-SMU Luxury Research Conference held yesterday at SMU, LVMH's group executive vice-president for human resources and synergies Chantal Gaemperle noted that Asia represents almost one-third of LVMH's sales and continues to promise and drive growth opportunities.

SMU Lee Kong Chian School of Business Professor of Marketing Srinivas K. Reddy said: "(The luxury market) was going gangbusters over the last 10 years (but) due to the slowdown in the global economy and also in the Chinese and Asian economies, there is a slight hiccup here.  But the potential is still there." Concerning counterfeit issues, Prof Reddy, who is also the academic director for the LVMH-SMU Asia Luxury Brand Research Initiative, noted that while there is always going to be a market that essentially wants fake goods, it should not ruin the markets for others and so that's where very vigilant brands have to work with the local regulatory agencies to curtail it as much as possible. Looking ahead, Ms Gaemperle mentioned that the partnership with SMU in research plays a critical role in bringing innovative and creative ideas to customers and businesses. The inaugural LVMH-SMU Luxury Research Conference is part of a five-year collaboration to further develop the luxury brand sectors and the Asian market.