Top Nine Luxury Brands List 2008
First, please allow me to ask a question: what is luxury? An art, a kind of sensory pleasure or personal favor? In fact, no matter what the answer is, we have to admit that luxury industry is just like a great magnetic field, which is filled with strong allure and attracts most people.
At the end of every year, there are so many fashion magzines and websites make top list of luxury brands that are widely spreaded all over the world. True or false, nevertheless, we should consider them as an extra reference.
Each year the Best Global Brands generates increasing amounts of interest from companies and practitioners associated with brands. The Interbrand who creat and manage brand value lead the discussion to help organizations understand and grow the value of their brands. Here is their top9 luxury brands list 2008 according to their research.
Top 1 Louis Vuitton – Values $m21,602
Louis Vuitton continues to grow in all regions and behave quite unlike most other luxury brands. Louis Vuitton handbags are not only signs of taste and fashion, but also symbols of social status and recognition. Besides, the brand has enjoyed significant growth in its ready-to-wear footwear, watches, and accessories collections.
Top 2 Gucci – Values $m8,254
One of the world’s most coveted luxury brands, Gucci can’t afford to rest on its laurels. With an increased brand communication budget of 41.5% over last year, the brand has capitalized on its lead positioning of creativity, quality, and the kudos of being “Made in Italy.” With a retail network it directly owns and operates, Gucci has a firm grip on both its brand and the revenues it generates, something that will provide an advantage as it enters into emerging markets such as India.
Top 3 Chanel – Values $m6,355
Regarded as one of the world’s most iconic fashion brands, Chanel maintains its desirability through classic appeal that is constantly being reinterpreted for modern times. More affordable ranges are offered in limited quantities and, during the fears of recession, Chanel has maintained price points and exclusive positioning. Familiarity with the brand is sure to rocket following the release of the biopic “Coco avant Chanel.”
Top 4 Rolex – Values $m4,956
Rolex is the world’s biggest luxury watch brand. The secret to its success has been a long-term view on its relationship with consumers, focusing on performance and continuity – something demonstrated by the great value collectors put on vintage Rolex watches. Recent investments follow this strategy, with enhanced after-sales services and distribution benefiting from increased spending.
Top 5 Hermes – Values $m4,575
One of the most exclusive and prestigious fashion houses in the world continues to pursue a strategy of creativity, quality, know-how, and artisan spirit. A strategic refocus on geographic expansion has seen inroads in India and China and the high-profile opening of a store on Wall Street – one of 40 planned in 2008.
Top 6 Cartier – Values $m4,236
Performing exceptionally well in jewelry and watches, Cartier is now looking to China to boost revenues, growing the number of outlets to capitalize on the strong demand from the Asian market. Looking ahead, the resilient nature of high-end consumers leaves Cartier in a strong position, even against the backdrop of the current economic climate.
Top 7 Tiffany & Co – Values $m4,208
Tiffany & Co.’s consistent brand strategy and focus on the customer experience ensure that, regardless of economic conditions, people will always find a little sparkle when they walk through the doors. That said, a positioning of “affordable luxury” may leave the brand exposed if mainstream consumers continue to cut back on luxury spending while highly affluent consumers stay loyal to the ultra-premium end of the market. It will be interesting to see how consumers react to the new “Collections” store format.
Top 8 Prada – Values $m3,585
Prada has been the top spender on marketing and advertising among the luxury global brands. With the Chinese market expected to account for 10% of global sales by 2010, the region has been a key focus for development. The Prada phone, developed in conjunction with LG, was well received and helped the brand to reach new audiences.
Top 9 Giorgio Armani – Values $m3,526
As one of the world’s most dynamic fashion brands, Armani has a long track record of promoting the luxury Italian lifestyle. But recent investments in new categories have helped the brand reach out to new audiences. The Armani brand now stretches into areas as diverse as fragrance (Armani Code), home furnishings (Armani Casa), technology (co-branding with Samsung) and hotels (the first Armani hotel opened in 2008 in Dubai).