Italian luxury brands are dominating the BrandZ Italy 2021 ranking, which assesses brand value by considering financial performance, consumer opinion, and behavior. Gucci, in particular, has emerged as the clear leader. Following its successful Aria presentation, the renowned fashion house secures the top spot on the list of the most valuable Italian brands, with a value of $33.8 billion. Gucci’s value has increased by 12% due to its retail expansion strategy, comprehensive brand content policy, and focus on innovation, including the introduction of 100% digital sneakers.
However, despite Gucci’s achievement, Bottega Veneta takes home the growth award. Under the creative direction of Daniel Lee, the brand’s value has soared by 54% to $2.2 billion in recent months. Ranked twelfth among the most valuable brands of 2021, Bottega Veneta demonstrates impressive financial results with a 21% increase in sales last year. The study highlights the success of the brand’s “disruptive” digital strategy, where it withdraws from social media and concentrates solely on user-generated content. This approach aims to enhance the brand’s virality through authenticity, which resonates with consumers. The report further notes that 60% of Bottega Veneta’s current buyers are under 40 years old, underscoring the effectiveness of this strategy. The study also identifies the brand’s core values as “generosity, creativity, and the ability to stand out.”
Fendi also shines in the Italian luxury segment, with a value surpassing $48 billion, representing a 16% increase. While Prada ranks sixth on the list with a valuation of $3.97 billion, Fendi’s value has skyrocketed by 48% to reach $3.18 billion. As the eighth-ranked brand, Fendi thrives thanks to its robust and transparent corporate social responsibility strategy, which includes supply chain optimization and environmentally conscious capsule collections.
Overall, the study highlights that the Italian luxury sector comprises renowned fashion houses with global recognition. It also benefits from the repatriation of purchases in the United States and Asia, which are crucial regions in the current pandemic landscape. This trend aligns with the findings of the BrandZ France study, which recently crowned Louis Vuitton as the most valuable French brand.
Useful links:
– Business of Fashion: Gucci
– Bottega Veneta Official Website
