Louis Vuitton announced today that their previously scheduled ten story Ginza flagship store is no longer in the works. The building was set to be up in 2010, but with declining luxury goods sales in Japan, the investment hardly seems worth it anymore for the infamous brand. With numerous stores in the city already, creating the worlds largest Louis Vuitton store in the same area in a time of economic decline would not be a wise choice. It’s a shame to hear that this had to happen, but are we really surprised by this move? If anything I give them credit for watching their asses in a time when even the smallest mistake could have huge repercussions in the time to come. Now that they are saving millions of dollars, maybe they can cut me a deal on the Graphite Bag I’ve had my eye on for months.

Thanks for WWD for the heads up.