According to a recent study conducted by YPulse, luxury brands Gucci, Rolex, and Louis Vuitton are leading the way in popularity among young generations in Western Europe. The study, which surveyed 2,500 individuals aged 13 to 39 in the United Kingdom, Italy, Spain, France, and Germany, examines the perceptions and aspirations of Gen Z and Millennials towards the luxury industry.
Gucci, in particular, stands out as the most desired luxury brand among the 13 to 39 age group, ranking first among consumers aged 18 to 39 and second among those aged 13 to 17. The brand’s appeal can be attributed to its strategic presence in the digital world, particularly in the realms of Web3 and gaming. Gucci engages with younger consumers through various digital offerings, including mini-games, digital art, collaborations on platforms like Roblox, and even virtual exhibitions within The Sandbox metaverse. Despite a slight decrease in sales, Gucci continues to shine in the eyes of its youngest consumers.
Louis Vuitton also fares well in the YPulse study, ranking highly across different age groups. It sits in fourth place among those aged 13 to 17, second place among 18 to 24-year-olds, and third place among 25 to 39-year-olds. Like Gucci, Louis Vuitton recognizes the importance of digital activations and has successfully established a strong online presence. With collections of non-fungible tokens (NFTs), active participation on platforms like Discord and Instagram, and remarkable popularity on the internet, Louis Vuitton is a force to be reckoned with. The brand’s collaborations with well-known figures like Pharrell Williams and its innovative culinary ventures further contribute to its appeal among younger generations.
Rolex also captures the attention of the 18 to 39 age group, securing a spot in the top three most desired brands. The brand’s iconic image and reputation play a significant role in its appeal among young consumers.
The YPulse study also mentions several other luxury brands that resonate with young European consumers, including Prada, Dior, Ferrari, and Chanel. These brands continue to captivate the younger market through their unique offerings and brand identities.
Interestingly, the study reveals that young people aged 13 to 39 consider tech giants Apple, PlayStation, and Xbox as luxury brands. The intersection of technology and luxury is further highlighted by the inclusion of Nike in the rankings, particularly among those aged 13 to 24. In fact, Nike ranks first among the brands that 13 to 17-year-olds aspire to acquire the most.
In conclusion, Gucci, Rolex, and Louis Vuitton are at the forefront of luxury brands that appeal to young generations in Western Europe. Their ability to leverage digital platforms and engage with young consumers has played a significant role in their ongoing popularity. Additionally, other luxury brands like Prada, Dior, Ferrari, and Chanel are also highly regarded by these young European consumers. The inclusion of technology giants like Apple, PlayStation, and Xbox as luxury brands further highlights the evolving landscape of consumer preferences. The full YPulse report on luxury and young consumers can be found here.
Useful links:
1. YPulse: An Inside Look at Gen Z & Millennials’ Luxury Perception
2. Vogue Business: How Louis Vuitton became a consumer communication genius
