You already know the usual suspects–those brands that are essentially synonymous with luxury. No doubt you would easily recognize the names as well, but did you know that luxury grew more than any other category of shopping in 2019? From cars, to clothes, to jewellery, to watches, and more, Luxury is a growing market with more and more companies entering the arena.
According to BrandZ’s Top 100 Most Valuable Global Brands, the luxury market grew by 29 per cent, which translates into adding more than $38 billion, bringing the total to an incredible $171.3 billion. It appears that this rise is in part attributable to older, more traditional customers trying to associate with the more youthful crowd, and, interestingly enough, vice versa. The younger generation is trying to connect with the older generation by acquiring some of these prestigious brands.
As you might expect, French brands top the list. Louis Vuitton, Chanel, and Hermes take the top three positions. Out of the top 10, six are French. Yves Saint Laurent takes home the distinction of growing more than any other brand, increasing their value by 45 per cent coming in at $3.6 billion. Dior came in a close second, increasing its brand value by $4.66 billion. The top 10 include the three already mentioned as well as Gucci, Rolex, Cartier, Burberry Dio, Sant Laurent/Yves Saint Laurent, and Prada. Louis Vuitton stays at the top of the pack with a 15 per cent growth, elevating their value to $47.2 billion.
This was the second annual releasing of BrandZ’s report. Released by WPP and Kantar, the report tracks and anticipates the evolution of top-performing brands. It wasn’t just luxury that made it on the report. For the first time ever, Amazon took the top honours, beating out companies like Apple, Google, and Microsoft, who took the second, third, and fourth positions respectively. Louis Vuitton took the 22nd place overall, sandwiching between Nike and Wells Fargo.
Here are Brandz Top 100 Most Valuable Global Brands 2019:
- Alibaba Group