Louis Vuitton has stores all over the world, dozens in the U.S., but the brand just decided to put down some roots in an unlikely place; Texas.
Luxury retailer Louis Vuitton just bought a substantial amount of land near Fort Worth Texas this month to expand their already multibillion-dollar business. The property in Keene Texas will be the home to a new Louis Vuitton Workshop where the world-famous handmade luggage and handbags will be manufactured.
Although the company has multiple manufacturing plants all over the world, this will be only the third plant in the United States, the other two being in California. The facility, which will sit on over 250 acres, will eventually provide 500 jobs.
According to the Star-Telegram, the plant will cost the company $20 million to build, and construction will start sometime at the beginning of 2018 and be finished in 2019. Although $20 million is a lot of money, Texas lawmakers made things very comfortable for the company to build their plant in the serene and spacious Texas desert.
The company will receive a 45% property tax abatement the first year when the plant will only have 100 people employed. Once the company reaches 500 employees, they will receive a 75% property tax abatement for ten years. This is an unbelievable deal for the company who definitely do not have small pockets, and have been carefully making acquisitions and expanding.
Louis Vuitton may be saving a ton of money with this deal, but they will also be providing jobs and opportunities in the Fort Worth Area which is something many locals need.
For more information about Louis Vuitton and to shop their collections visit www.LouisVuitton.com