The vast popularity of Louis Vuitton in the past and consequent sales have made the brand too common, taking away much of its cachet, a retailer said. "The popularity of its monogram series fizzled out, and there was no succeeding product, which is another reason for the slump," he said.

Exact sales figures are not available for Louis Vuitton, after its local operator was turned into a privately-held company from a limited company in 2012 when its lack of social contribution compared to its dividend propensity became controversial. Privately-held firms do not have to disclose detailed corporate information, such as donations.

A law was revised recently, however, requiring private companies to undergo external inspections and to disclose financial information, including sales, dividend rates and contributions. (Yonhap)