Bloomberg reports that, according to Yves Carcelle, the brand’s chief executive officer, Louis Vuitton will open its first stores in Lebanon and in Mongolia this year.

An unofficial source reported that the Louis Vuitton store in Ulaanbaatar will open on October 23rd 2009.

“Sometimes in our industry there is a tendency to follow your ego and sometimes open stores where you don’t have the market – we never do that,” Carcelle said.

“When we open a big store, we know that there is a market, we know the financials. So we never have to close a store for economic reasons.”

Carcelle said that the brand opened fewer stores this year than they did last but opened the same number of square metres as in 2008.

Current gossip claims that celebrities such as Madonna and Sean Conner are on the list of attending guests for the opening of the Mongolian store.

Photo below (Opening of HK store in March 2008) : Getty Image