Louis Vuitton is the world’s most valuable luxury fashion brand, says Interbrand. Chanel is the second most valuable luxury fashion brand followed by Gucci. The list is based on financial performance, ability to influence consumer spending and competitive strength.
The luxury market hasn't grown at such a rate since 2004. Among the reasons for the rise of luxury segment are: increased spending in China and other developing economies as well as digitally savvy marketing and ad campaigns that have attracted a younger audience.
China’s domestic luxury market expanded by 20 per cent in 2017, with mainland growth outpacing the rate of purchases made overseas. Luxury is the biggest story of the report and has an ability to connect to cultures and next generations. It has cracked the code by having a point of view in the market. Luxury is a space of excellence, whether it's fashion, leather or jewelry.
Louis Vuitton is seen as having a strong point of view in everything it does. The brand has been relentless with its engagement with millennials and is noted for investing in people. Similar trends are seen at Gucci.
Louis Vuitton and Gucci are listed among the fastest-growing brands in general, alongside Amazon and Netflix.
