“Until recently it seemed that luxury brands remained stable through economic downturns. However, it is clear today, as we plunge into the challenges of global recession that no industry will remain insulated,” said Jez Frampton, group chief executive of Interbrand.
“Luxury’s success at expanding its markets during recent times of prosperity has left the sector more vulnerable today. And yet, there remains a tier of pure luxury brands that minimise risk and generate long-term value.”
Interbrand’s study identifies the top 15 global luxury brands by financial brand value and reveals that luxury brand management stands the tests of time.
The luxury sector will be looking to make itself more accessible to a broader audience but will not devalue its brand through sub-brands or compromising its standards or supply chain.
Leading luxury brands also understand the need for customer restraint rather than relentless acquisition and will continue to influence consumers through their longstanding philosophies.
“The social implications of this economic upheaval may forever alter the luxury market’s affluent consumer. The consistency with which leading luxury brands have managed themselves suggests that a ‘business as usual’ attitude in uncertain times ahead will not be enough,” said Jean-Baptiste Danet, Interbrand’s European CEO.
“As the excesses of earlier days disappear, constant determination, conviction and creativity will be a must.”
The top 15 luxury brands and their brand value according to Interbrand include:
1 Louis Vuitton (US$ 21.6 million)
2 Gucci ($8.2 million)
3 Chanel ($6.3 million)
4 Rolex ($4.9 million)
5 Hermès ($4.5 million)
6 Cartier ($4.23 million)
7 Tiffany & Co ($4.2 million)
8 Prada ($3.58 million)
9 Ferrari ($3.52 million)
10 Bulgari ($3.3 million)
11 Burberry ($3.2 million)
12 Dior ($2.03 million)
13 Patek Philippe ($1.1 million)
14 Zegna ($818,000)
15 Ferragamo ($722,000)
