According to the 2019 BrandZ report established by the WPP and Kantar group, Amazon, Apple, and Google are the top three brands in terms of value. However, luxury brands are not far behind, with several household names making it into the Top 100.
Leading the pack is Louis Vuitton, with an estimated value of $47.2 billion. The brand has seen a growth of +15% and ranks at 22nd place. Chanel also makes a strong showing, directly positioning itself at 31st place with a value of just over $37 billion. Hermès follows closely behind, occupying the 37th position with a value of just under $31 billion. Gucci, the flagship brand of the Kering group, rounds out the luxury brands in the Top 100 at the 52nd position with a value of $25.3 billion and a growth rate of +13%.
The BrandZ index takes into account the financial value of the brands, as well as their brand value through opinion and consumer preference studies. Other luxury brands, such as Dior, Cartier, and Prada, also received value scores, with Dior showing the highest growth of +29%, while Cartier experienced a decline of -15%. Prada, on the other hand, saw a decline of -11% in value, but its investments in a strengthened digital strategy could potentially turn things around.
Experts note that the luxury sector is experiencing the highest growth, with an increase of +29% compared to last year. The total value of the luxury category is estimated at $171.3 billion, with a significant increase of +304% over the decade.
The success of luxury brands can be attributed to their ability to build an economy based on “product and service experiences.” The BrandZ study also highlights the impact of brand commitments, with luxury brands being seen as more responsible from a social and environmental point of view. Conversational strategies have also paid off, as luxury brands are viewed as less “arrogant” than in previous years. This accessibility has been facilitated by social media, allowing anyone to build a relationship with a brand, regardless of whether they own any of their products.
Overall, luxury brands continue to thrive and dominate the market, with their value and growth surpassing expectations. For further information, please find the links to the 2019 BrandZ report and the ranking of the most valuable French brands in the world below:
1. [2019 BrandZ report](insert-link-here), target=”_blank”
2. [Ranking of the most valuable French brands](insert-link-here), target=”_blank”
