LOUIS VUITTON has been named the world's most valuable luxury brand for a seventh consecutive year, following a study conducted by global research brand Millward Brown Optimor and based on an analysis of company performance, as well as consumer interviews. The French fashion house, which was valued at $25.9 billion (£16.5 billion), beat off stiff competition from Hèrmes, who came second with $19.1 billion (£12.1 billion) - a 61 per cent rise from last year. Swiss watch brand Rolex ranked third place, with $7.17 billion (£4.57 billion).
"Luxury is seen as a good investment with people increasingly buying classic pieces rather than high fashion," Millward Brown Optimor managing director Nick Cooper said in a statement. "Those who can afford it indulge, including young professionals who, increasingly unable to buy houses, are spending their disposable income on mid-tier luxury."
The study credited quality craftsmanship, heritage and history as key components of success for luxury brands. Alongside Hennessy cognac and Moet & Chandon Champagne, other fashion brands to make the top ten include Chanel with $6.68 billion (£4.25 billion); Gucci at number five with $6.42 billion (£4.09 billion); Prada at six with $5.7 billion (£3.63 billion); Cartier at seven with $4.8 billion (£3.06 billion); and Burberry in tenth place with $4.09 billion (£2.6 billion).
ELLA ALEXANDER
24 May 2012
http://www.vogue.co.uk/news/2012/05/24/louis-vuitton-named-the-worlds-most-valuable-luxury-brand
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