For everyone who scoffed at anyone carrying the Louis Vuitton bags of the early 2000s, hear this: Louis Vuitton has been named the world’s most valuable luxury brand.
Taking the title for the seventh year, the study was conducted by global research brand Millward Brown Optimor who gave Louis Vuitton the nod thanks to company performance and customer interviews.
Valued at $25.9 billion, Louis Vuitton apparently just beat Hermes, who ranked at $19.1 billion (which was a 61% rise from last year). But does being named “Most Valuable” still have the same clout with the economy in such turmoil? According to Millward Brown Optimor, yes.
“Luxury is seen as a good investment with people increasingly buying classic pieces rather than high fashion,” they said. “Those who can afford it indulge, including young professionals who, increasingly unable to buy houses, are spending their dispoable income on mid-tier luxury.”
Well then that would explain the number of Louis Vuitton everything seen on so many young professionals in downtown areas.