What's the next big luxury brand
Brand rankingThese are the most valuable luxury brands
Anyone who expected the Corona crisis to end the boom in luxury goods will see themselves wrong. It is true that this market also collapsed at the beginning of the pandemic - also because the wealthy tourists from Asia suddenly stayed away. In the meantime, however, business is running at full speed again, despite the boutiques being closed. Louis Vuitton, for example, is relying on a multi-pronged strategy of frequent price increases and a larger range in the corona crisis.
Some observers were amazed when the luxury brand increased prices in lockdown in 2020. Price increases several times a year are typical. However, given the tense situation, LVMH boss Bernard Arnault's strategy was called into question. But the richest French know what they're doing. In February 2021, LVMH passed Nestlé on the list of Europe's most valuable companies.
Luxury is booming
Of course, higher prices are of little use if the products are not available. Louis Vuitton is known for artificially shortening particularly sought-after items. That makes them desirable and ensures that on the lucrative second-hand market for luxury products, many times as much is paid for bags and accessories, even if they could be bought much cheaper from the manufacturer - if they were there. During the pandemic, however, customers suddenly realized that notoriously rare products were suddenly available.
Chanel has also increased prices since March 2020. Thanks to its charisma, the traditional French company can still do without an online shop despite lockdowns. The handbags in the latest collections are so popular that even regular customers have not even been put on waiting lists by the boutiques. Luxury houses such as Dior or Valentino have of course long since reacted to the pandemic and are now increasingly offering loungewear made of cashmere or outfits for the home office instead of sumptuous evening dresses. Many a customer then invests the unused travel budget in the luxury of wellbeing at home.
Most valuable luxury brands
The analysts at Interbrand evaluate the brand value of companies every year. The “Best Global Brands” ranking is based, among other things, on the turnover that brands achieve. The experts also examine how strongly the brand influences purchasing decisions or how much it can retain customers. The current leaderboard is based on data from June to September 2020. It is led by Apple, Amazon and Microsoft. As in the previous year, nine luxury brands are represented in the top 100. We introduce you.
# 9 Prada
Prada has just made it into Interbrand's 100 most valuable brands in 99th place. The analysts attested the Italian fashion house a loss of value of six percent compared to the previous year and estimated the brand at 4.5 billion US dollars. In view of the general crisis, Prada was even able to improve by one place. The ranking was created from June to September 2020. The next edition should be better. In the corona pandemic, the easy-care nylon bags by Miuccia Prada have become a bestseller. In addition, the granddaughter of the company founder brought the Belgian star designer Raf Simons (previously with Dior and Calvin Klein) on board. The duo presented their first highly anticipated joint collection in September 2020.
# 8 Burberry
The traditional British brand Burberry is primarily known for trench coats with checked lining, but would like to play a part in the lucrative accessories and is positioning itself in the lower luxury segment in terms of price. Burberry was among the losers in Interbrand's ranking with a minus of eight percent. The brand value was put at just $ 4.8 billion. That meant place 97 in the overall list, a place worse than last year.
Tiffany & Co.
LVMH boss Arnault is considered a hunter and gatherer. In 2020 he added Tiffany & Co. to his list of conquests. According to the Interbrand ranking, the market value of the New York jeweler fell by seven percent to just under $ 5 billion. Nevertheless, Tiffany was able to hold 94th place of the previous year.
# 6 Dior
According to the analysis, Dior came through the initial phase of the corona pandemic almost unscathed. According to "Best Global Brands" in 2020, the market value fell by just one percent to just under $ 6 billion. Dior, which is also part of Arnault's luxury empire, fell one place to 83rd.
# 5 Cartier
According to Interbrand, none of the largest luxury brands has suffered as much from the consequences of the corona crisis as Cartier. The market value collapsed accordingly by nine percent to 7.5 billion dollars. Cartier slipped five places to 73rd.
# 4 Gucci
Gucci was once the bone of contention between LVMH and François Pinault. Today the Italian label is the figurehead of Pinault's Kering group. The cheerful, loud boho style of chief designer Alessandro Michele also meets the customer's attitude to life in the corona pandemic. Interbrand estimated the loss in brand value at just two percent. Gucci moved up to 32nd place with $ 15.7 billion in the ranking.
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