Okay some brands have ALL the luxury luck and some do nothing but complain. When it comes to the top 10 most valuable luxury brands consistent brand awareness may be the secret formula. Those who are successful actually know how-to deliver their brand message to achieve the best outcome return.
Branding matters more in luxury than in any other sector.
Customers shell out thousands of dollars for a purse partly for the material costs, partly for the beautiful design, but primarily for the brand name. Just look how many people buy fake handbags that bear the designer name.
Once again Louis Vuitton was named the most valuable luxury brand, worth $24.3 billion, in an annual survey from BrandZ.
BrandZ and Millward Brown Optimor calculated value based on branded earnings and a survey to determine how much of those earnings are generated by the brand’s close bond with customers. Nine of the top luxury brands rated five out of five for brand caché.
World’s Most Powerful Luxury Brands 2011:
1. Louis Vuitton
Last year’s ranking: 1
Overall Brand Value: Up 23% to $24.312 billion
2. Hermès
Last year’s ranking: 2
Overall Brand Value: Up 41% to $11.917 billion
3. Gucci
Last year’s ranking: 3
Overall Brand Value: Down 2% to $7.449 billion
4. Chanel
Last year’s ranking: 4
Overall Brand Value: Up 23% to $6.823 billion
5. Cartier
Last year’s ranking: 8
Overall Brand Value: Up 34% to $5.327 billion
6. Rolex
Last year’s ranking: 6
Overall Brand Value: Up 11% to $5.269 billion
7. Hennessy
Last year’s ranking: 5
Overall Brand Value: Down 7% to $4.997 billion
8. Moët & Chandon
Last year’s ranking: 7
Overall Brand Value: Up 7% to $4.570 billion
9. Fendi
Last year’s ranking: 9
Overall Brand Value: Up 7% to $3.422 billion
10. Burberry
Last year’s ranking: Unranked
Overall Brand Value: Up 86%