Louis Vuitton's plans to open a store in Tokyo's Ginza shopping district have reportedly been put on hold.
Due to falling demand for luxury sales goods, developments for the 10-storey flagship store have now been scrapped, reports WWD.
If building has been completed on the store, it would have been Louis Vuittonâs largest worldwide and added to an already vast network of stores in the city.
A Spokeswoman for Burson-Marsteller, speaking on behalf of Louis Vuitton in Japan has confirmed that an agreement could not be reached, with the real estate developer and as such, the plans were terminated, according to WWD.
The luxury label confirmed its plans for the Ginza tower in May, before the financial crisis really began to take hold, and was set for completion in 2010.
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