When you want to maintain a reputation of being extremely high end and expensive, you take some pretty drastic measures. For example, Louis Vuitton is famous for never putting their pieces on sale. To avoid this, they take all the leftover bags at the end of the year and burn them!
The 158-year-old company originally opened on the Champs-Elysees in Paris. It was the largest travel-goods store in the world. The company took their early success and used it to build the high-end accessories empire it has today. Interestingly, if you see a Louis Vuitton bag around, it's very likely it's a fake. Some people estimate that as many as 99% of the LV bags in the wild are forgeries.