Louis Vuitton Hails as the Most Valuable Luxurious Brand In the Fashion World
According to Interbrand’s annual Global Brand Chart, Louis Vuitton hails as the world’s most valuable luxurious fashion brand. The said ranking was based on financial performance, competitive strength, and the ability to influence consumers into spending on these top brands.
While other top brands like Apple, Amazon, Google, Microsoft, and Coca-cola also came out on top of the list, the luxurious fashion industry dominated the list as the fastest-growing sector in the fashion world. In fact, the other markets haven’t grown at such an impressive rate since 2004, except when luxury brands started to emerge according to business experts..
Trailing behind Louis Vuitton was Chanel as the second most valuable luxury brand, landing on the 23rd spot. The list was followed by Gucci which had a dramatic jump from 51st to the 39th spot. According to Business of Fashion, the following crucial factors affected the rankings for this year:
- The increase in spending or purchasing power in China and other developing economies.
- The rise of digital savvy marketing and ad campaigns to increase brand exposure and attract young buyers.
A Culture of Excellence
According to the culture officer of Interbrand Rebecca Robbins, part of Louis Vuitton’s success is their ability to connect not only to their consumer’s cultures but also in bridging the gap with the next generations. They have deciphered the code by giving their customer a point of view in the market. Louis Vuitton continues becoming the space of excellence be it in the fashion, jewelry, or even the leather industry.
Both Gucci and Louis Vuitton were listed as the fastest-growing brands in the world, along with Amazon and Netflix. Robbins adds how Louis Vuitton’s strong point of view shows in everything they do. The company has shown their relentless passion in engaging with the millennials, even going as far as appointing Virgil Abloh and investing in their people and employees to study the trends of youth.
A Standout Sales Performance
True enough, Louis Vuitton’s ranking reflects their latest sales performance for the third quarter, despite the fear of a slowdown in sales in China due to the effects of the Trade War. For the past few weeks, Louis Vuitton’s shares in the Chinese trade fell as unconfirmed rumors of a high-wares crackdown by Chinese customs officials circulated on the Internet. However, last Tuesday, LVMH’s sales increased up to 14% in handbags and fashion brands, beating the 12% expected sales increase prediction made by some financial analysts. The said sales growth was deemed as a positive sign of rebounding demand among Chinese customers.
The recent sales growth followed the 13% sales in the second quarter. According to RBC Capital Market analyst Rogerio Fujimori, Louis Vuitton’s sales as of September 30 reached an astounding 11.4 billion Euros, or around $18.1 billion. This shows a strong quarter for LVMH.
Other industries that also performed well include wine and spirits, where its revenue growth continues to accelerate from one to another quarter. Meanwhile, the sales momentum in cosmetics and perfumes slightly slowed despite the recent launching of a new Dior fragrance named “Joy”.
LVMH’s CEO Bernard Arnault shares how the company has been investing not only in the people but also in smaller brands to compete with other brands and stay ahead of the game to lure young buyers into spending as they quench the youth’s thirst for new styles and fashion trends.
The CEO also reveals their plan to triple their sales as they launch Celine’s fashion label soon, in which the prestigious designer Hedi Slimane will take charge of the rock and roll makeover.
More in Rich & Famous
Tesla Stock is on a Downward Spiral But Elon Musk’s Salary Remain in The Billions — Here’s Why
Tesla founder and CEO Elon Musk is one of the most innovative minds of today. There’s no doubt about that. However,...May 30, 2019
Why is Elon Musk Taking Out $61 Million Worth of Mortgages? The Reason Will Shock You
Tesla CEO Elon Musk has done a lot of questionable things within the last few years. There’s his often puzzling Twitter...May 30, 2019
Here’s How Much Internet’s Beloved Grumpy Cat Earned When It Was Still Alive
On May 14, 2019, cat-lovers around the world mourned the untimely death of Grumpy Cat, the internet-sensation feline who has millions of fans and followers across...May 29, 2019
Why Most Millennials Delay Their Dream Of Buying a House Due to Student Loan Debt
Everyone wants to buy their dream house. Buying or owning a home is often taken as a milestone of success in...May 29, 2019
Huawei Confident To Make $100 Billion Before The End Of The Year
According to a Huawei rotating chairman, Eric Xu, the revenues of the Chinese technology giant will reach $100 billion in 2018....May 29, 2019
Kim Kardashian’s Instagram Salary Will Make You Want to Become a Social Media Influencer, like…Right Now!
The Internet has effectively changed marketing and advertising landscapes. The rise of social media platforms like Instagram and the influencers that...May 28, 2019
How Rich is Maisie Williams aka Arya Stark From ‘Game Of Thrones’? The Answer Might Surprise You
It’s finally here: the end of ‘Game of Thrones’. Whether fans got the conclusion they’ve been waiting for or not, they’d...May 28, 2019
Here’s How Starbucks is Doing After Schultz’s Resignation
With almost 30,000 locations all over the world, Starbucks got to be the most successful and most popular coffee shop in...May 28, 2019
Can’t Keep Up With the Fast-Paced ‘Operation Varsity Blues’ Controversy? Here’s a Primer of Everything That Went Down
In March, the world was shocked when a long-standing college bribery scheme involving high-profile personalities was exposed. Nicknamed ‘Operation Varsity Blues’,...May 27, 2019