Opportunities: Large market for luxury goods and positive trends in emerging markets. The trends controlling the global luxury goods market are globalization, consolidation and diversification (Tavoulari 1). Globalization is a result of the increased availability of these products, the addition of luxury brands, and increased tourism. Consolidation involves the growth of large companies and brand ownership across many luxury product divisions. LVMH is an example, demonstrating that it is one of the largest luxury companies that dominate the market in segments ranging from luxury drinks to fashion and cosmetics. This growth in the luxury market has significantly expanded the availability of luxury products to a wider audience of consumers. Luxury goods have also become more affordable to a wider range of consumers due to higher incomes in a number of emerging markets, such as the Middle East, China, Russia and India (Tavulari 1) . At one time, you had to go to Paris, New York's 5th Avenue or Rodeo Drive to shop in luxury stores. However, today luxury brands can be found in shopping malls across the country. You can also go online and find a wide selection of luxury brands to purchase and have delivered to your door. Examples include Gucci, Louis Vuitton, Prada, etc. Luxury products are no longer reserved for the upper class. As in emerging markets, more and more people today feel entitled to luxury products. They aspire to an improved lifestyle. This is now becoming an achievable necessity. The number of Chinese, Indian and Middle Eastern consumers who can afford luxury goods is increasing, despite the economic slowdown in emerging markets, prices of luxury goods are actually much higher than in Europe (Tavoulari 1) . In 2010, Ch...... middle of paper ... consumers pose a huge threat to our water system. PETA states that large amounts of energy and chemicals are required to produce leather goods. LVMH has created a global charter called Environmental Management, which formulates standards and strategies for environmental protection. It coordinates actions and encourages its subsidiaries to adopt “good ecological practices” in all divisions. However, the continued production of leather goods still poses a threat to the environment. It is essential for LVMH to continue to develop environmentally friendly strategies in order to continue to protect the environment. This will require new ways of thinking, breaking with tradition. Many brands have chosen to develop leather-free products, such as Stella McCartney, whose bags are created in eco-faux nappa, made from vegetable oil (Ramirez 1).