Louis Vuitton, the leader of the 2019 BrandZ ranking of the most valuable French brands, continues to hold its pole position. This luxury house has successfully maintained its top spot for another year, driven by the thriving luxury sector. The Top 50 BrandZ France, conducted by Kantar research firm, evaluates the value of a brand by considering its financial performance and analyzing consumer opinions and behaviors.
Last year, Louis Vuitton claimed first place in this ranking, and their strategies have proven to be successful once again this year. The brand’s value has grown by an impressive 15%, reaching an estimated amount of $53.4 billion. The study credits this growth to the implementation of various experiential marketing initiatives, such as immersive experiences for customers and the creation of LV TV with YouTube, which have been key drivers of the brand’s success.
Louis Vuitton shows no signs of slowing down, as the brand continues to pursue various initiatives. These include the inauguration of a new watch salon, the opening of their first restaurant, the acquisition of the second largest diamond in the world, and a partnership with the NBA. With such endeavors in the pipeline, the coming year holds great promise for Louis Vuitton.
Luxury fashion and jewelry brands maintain a significant presence within the Top BrandZ France ranking. In addition to Louis Vuitton, eight other luxury houses feature on the list. Chanel and Hermès once again round out the top three, with both brands experiencing a 10% increase in their value. Other notable luxury brands in the ranking include Cartier, Dior, Saint Laurent, Givenchy, Céline, and Van Cleef & Arpels. Together, the value of these luxury houses totals approximately $151 billion, accounting for nearly half of the total ranking.
According to David Roth, CEO of The Store WPP EMEA & Asia and President of BrandZTM, French luxury fashion brands continue to bolster the country’s global influence. He emphasizes that these brands are not just relying on their heritage, but are also developing innovative solutions that will shape them into brands of the future.
Overall, the success of Louis Vuitton and other luxury houses in the BrandZ France ranking highlights the ever-growing power of the luxury sector. With their innovative strategies and constant drive for excellence, these brands continue to thrive and make their mark on the global stage.
Useful links:
– https://www.brandz.com/article/louis-vuitton-continues-to-benefit-from-ingenious-branding-investment/ft
– https://www.voguebusiness.com/
