Louis Vuitton opens its doors in Charleston Place

It might seem like a peculiar time to open a boutique that sells $1,200 handbags, what with the economy sputtering to a halt and all. But while they are worried on Wall Street and on Main Street, business apparently is OK on King Street, for now at least.

Most of the merchants along downtown Charleston's main shopping corridor welcomed the opening of the Louis Vuitton store Friday, the high-end French merchant's first in South Carolina.

The 4,300-square-foot boutique, known for its trademark gold monogram print atop brown canvas, anchors Charleston Place along King Street.

Earlier this week, seven "visuals managers" from across the country and two from Paris were flown in to arrange the collection of purses, travel wear and accessories in display cases that sat atop a herringbone-patterned wood floor.

Though the location opened to a small crowd — which a store manager attributed to the gray weather — traffic seemed to pick up over the course of the shopping day.

Most of the high-end retailers in downtown Charleston say the luxury store will only enhance the city's reputation as a premier shopping destination and, best of all, won't really compete with any existing stores. Well, except for maybe Gucci, which also is a Charleston Place tenant.

"It can only be a good thing," said Jordan Lash, manager at M. Dumas & Sons at 294 King Street. "This will only bring a different clientele to King Street. People love Charleston and they want to shop at good stores. You get the right people in town."

Mayor Joseph Riley called Louis Vuitton "an international retailer of great distinction."

"They are careful about selecting locations for their stores, in terms of being in very high-performing and high-quality areas around the world," he said. "And so for Louis Vuitton to select a place on King Street is a fabulous affirmation of what an amazingly wonderful downtown shopping district it has become."

Until Friday, the nearest Louis Vuitton store was in Charlotte.

The mayor added that regional growth and the robust tourism trade make King Street "more well-positioned than most places in the country to experience a very good rebound."

Most downtown retailers said this week that they have been spared the brunt of the nation's current economic woes. Business is steady, even if expenses are up.

A Louis Vuitton boutique is viewed as another notch in the city's shopping belt — just as Saks Fifth Avenue was when it arrived on King Street more than a decade ago — that could attract more visitors and more high-end businesses.

"It means Charleston has arrived," said Ellen Berlin of Berlin's For Women at 114 King St. "Is Louis Vuitton a good thing? You'd better believe it. The Mac Store? Absolutely."

Berlin said the downtown shopping district has thrived in recent years, fueled by a diverse combination of local and chain stores that appeal to tourists and locals. It is, she said, a necessary mix.

Many downtown retailers say their sales are at the same level as last year, and most are relieved that the economic gloom and doom so pervasive throughout the nation has not settled on their businesses.

Some of Louis Vuitton's Charleston Place neighbors say their fortunes rise and fall with the adjoining 440-room hotel operation, which has held up well over the years.

Still, at least one store manager surmised: "I can't think of a worse time to open a shop."

Berlin said a blue-chip brand like Louis Vuitton isn't looking at the latest stock market gyrations but rather at long-term plans.

Its parent company, LVMH, has seen its publicly traded shares fall in price in recent months, but not to alarming levels.

"The company is doing good," said David Goubert, vice president of stores at Louis Vuitton. "There is no reason to stop investing and stop developing our network. You can see that today by the number of clients and traffic we have."

Most other retailers, who tend to be optimistic by nature, share a similar philosophy. They believe this latest downturn will be a blip, one that will pass after the election.

Berlin said her sales are steady, but the rising costs of doing business — health insurance, shipping charges — are not helping matters.

Some shoppers are clearly more reluctant to spend at the moment. Patti Jones of Columbia stopped in Gucci this week, looked at a $595 purse, and then passed.

"Everybody's feeling it, both my friends with money and friends without money," Jones said. "I like to buy a nice bag every year or so, but I just can't justify it right now."