After spending what seems like endless weeks cooped up at home due to the current social distancing measures, some of us are in need of a little retail therapy. For anyone who currently has luxury fashion on the brain, an interesting study has recently been released. Marketing consulting company Interbrand just put out a ranking of the top international brands of 2019. For the second year in a row, the category of luxury and retail brands made up the fastest-growing sector with an average year-over-year brand value growth rate of 11%, beating out even the ever-growing technology sector.
According to the list, Louis Vuitton is currently the world’s most valuable luxury company, with its brand value sitting at a cool $32.223 billion. The French fashion house is known for its notoriously monogrammed handbags and luggage collection. Meanwhile, Gucci was recognized as the fastest growing luxury brand. The Italian luxury brand of fashion and leather goods saw a 23% increase in its brand value since 2018, and came in at number 33 on the list, with a brand valuation of $15.949 billion.
French luxury company Chanel was listed as the 22nd most valuable luxury company worldwide. With its brand valued at $22.134 billion, the company saw 11% percent growth since 2018. Meanwhile, American luxury brand Tiffany & Co came in at number 94 on the general list of best global brands across all industries. The New York-based jewelry and specialty retailer had a brand valuation of $5.335 billion. However, it saw a -5% growth rate since 2018, when it ranked at number 83 on the same list. Similarly, Italian fashion house Prada also saw a decreased brand valuation since 2018, but only by 1%. It was ranked at number 100 on the overall list of top global brands in 2019 across all industries. When added up, the top nine luxury labels saw a combined brand value of $117.784 billion.