Louis Vuitton advocates, you’ve been validated: the French fashion house has just been named the Best Global Brand according to a recent study.
Beating the likes of Burberry, Gucci and Prada, Louis Vuitton ranked highest in terms of estimated annual value. In terms of brands in general, it ranked #17, getting trumped by Apple, Google and Coco-Cola, which is unsurprising to anyone who owns a computer, phone or enjoys various beverages.
However, it’s not like “high fashion” dominated the brand list. H&M was ranked the second most valuable fashion brand, worth approximately $16.5 million. Zara placed third, and Gucci and Hermes rounded out the top five.
Evidently, “despite the current economic landscape, all of the luxury brands in this year’s report increased their brand value,” according to a summary of the study. It continued: “As the meaning of luxury gifts, this year’s top luxury brands reflect a changing global consciousness — with success dependent not only upon a portfolio of superb quality of service, but also a strong cohesive brand, a formidable digital presence, and a reputation that is timeless, elevated and refined.”
Interesting! Let’s see if Louis Vuitton can hold onto the number one spot next year, or if luxury will be replaced by what the rest of us can justify buying all the time.