Wednesday, February 1, 2023

Louis Vuitton Has Been Named Best Luxury Brand of 2017

Global brand consultancy Interbrand has published its annual list of the 100 most valuable brands in the world. Entitled Best Global Brands, the report analyses and ranks brands based on their financial performance, consumer influence and their ability to command a premium price for the products or services on offer. While Apple, Google and Microsoft occupy the top three, Louis Vuitton held its position as best luxury brand as the overall number 19. Hérmes climbed two spots to 32, securing its spot as the top-growing luxury brand for the second year in a row. While Gucci climbed one spot to 51 under the creative lead of Alessandro Michele, its Italian colleague Prada dropped to place 94 from 81. Burberry also took a dive of three places, landing at number 83. Ralph Lauren, on the other hand, dropped out of the ranking entirely this year, having previously held place 98.

While still represented in this year’s report, jewellery giants Cartier and Tiffany took a hit, too. Cartier fell from 62 to 65 while Tiffany lost seven places and found itself at 81. The report is published as the luxury retail sector is facing the challenges of changing consumer behaviour and the rise of digitalisation.

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