Louis Vuitton is taking advantage of China's status as home to the world's top luxury spenders with a new women's store at the Shin Kong Place in Beijing. The store features luggage, handbags, clothing, shoes and accessories. Louis Vuitton has slipped to No. 2 among Chinese women on the list of most desired luxury brands. "With this new store ... we would like to take a step further and provide adapted shopping experience and service for our sophisticated clientele," said Philippe Fortunato, president of Louis Vuitton China.