In the BrandZ ™ Top 10 Most Valuable Luxury Brands ranking, Louis Vuitton appears in first position for the 14th consecutive year. The luxury category is the fastest growing in BrandZ Global, most valuable brands study by Kantar, the leader in data, insights and consulting.
Louis Vuitton delivers iconic products to consumers and continues to balance tradition and modernity, growing 15% in brand value to $47.2 billion. French brands are dominating the ranking: second, Chanel ($37 billion); and to make the Top 3, Hermès takes third place ($31 billion). On the list, Dior remains the fastest growing brand, with a 29% increase in value, reaching $4.66 billion.
Global BrandZ Valuations Global Director at Kantar, Elspeth Cheung, says: “while the number of people able to buy luxury goods remains limited, social media is expanding the opportunity for more people to enjoy luxury brands as they become more relatable, adjusting social media engagement and innovating in physical stores”. Both online and offline, luxury brands are extremely competent in delivering exceptional experiences in many ways. Even so, major international brands have the hard work of responding to the changing needs of a younger demographic of consumers in order to interact with them in a meaningful way.
Gucci, for example, ranking number 4, is Italy’s most valuable brand in the last seven years. Synonymous with creativity and strong strategies, including e-commerce and digital communication, Gucci is gaining new fans and younger consumers from innovative approaches.
Source: Kantar – images: release (July, 2019)