LOUIS VUITTON is the Best Global Brand in the fashion sector, according to a recent study. The French brand beat off competition from Gucci, Burberry and Prada in a report which ranks worldwide companies in terms of their estimated total annual value.
While top of the fashion sector, Vuitton ranked 17th overall with a value of $23.5 million (£14.5 million), behind the likes of Apple, Google and Mercedes-Benz. Coco-Cola was announced as the Best Brand in the world, estimated to be worth $77.8 million (£48 million).
The second most valuable fashion brand was, perhaps surprisingly, not a luxury fashion house but a high street label.H&M came in 23rd place overall, with an estimated worth of $16.5 million (£10.2 million). This was closely followed by Zarain third place – ranking 37th at $9.5 million (£5.9 million) –Gucci in fourth, worth $9.4 million (£5.8 million) and Hermèsin fifth, with a value of $6.1 million (£3.8 million). British brand Burberry was ranked sixth.
“Burberry is so proud to be one of Interbrand’s Best Global Brands again this year. Being a great brand is at the heart of everything we do,” said Angela Ahrendts, Burberry ceo. “It is such an honour to feature alongside the other great global brands in today’s report.”
Other notable names to feature in the list of 100 Best Global Brands, include jewellery brands Cartier and Tiffany & Co, and L’Oreal, which came out as top of the beauty labels.
“Despite the current economic landscape, all of the luxury brands in this year’s report increased their brand value,” read a summary of the study. “As the meaning of luxury shifts, this year’s top luxury brands reflect a changing global consciousness – with success dependent not only upon a portfolio of superior products and superb quality of service, but also a strong cohesive brand, a formidable digital presence, and reputation that is timeless, elevated, and refined.”
The annual report, conducted by Interbrand, analyses the way in which brands drive business results and deliver on customer expectations alongside its financial performance, the role it plays in influencing consumer choice and the strength it has to command a premium price or secure earnings.
The Louis Vuitton spring/summer 2013 collection will show tomorrow during the final day of Paris Fashion Week.
The top nine Best Global Brands in the fashion sector:
1. Louis Vuitton (#17, worth $23,577)
2. H&M (#23, worth $16,571)
3. Zara (#37, worth $9,482)
4. Gucci (#38, worth $9,446)
5. Hermès (#63, worth $6,182)
6. Burberry (#82, worth $4,342)
7. Prada (#84, worth $42,71)
8. Ralph Lauren (#91, worth $4,038)
9. Gap (#100, worth $3,731)
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