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Louis Vuitton Named Most Valuable Brand in the World
The world of luxury is about fantasy, craftsmanship and aspiration, rather than equity and balance sheets, but behind the scenes is a hard-nosed business world.
High-end luxury labels may not talk about it in public, but they are all in a constant battle to secure the coveted title of the world’s most valuable brand.
Consistently featuring in such lists over the years has been iconic French fashion house Louis Vuitton, and the Parisian marquee - a go-to name for celebrities and famous personalities across the globe - has proved its worth yet again.
The brand has been declared the most valuable in the world in a recent survey by brand equity database BrandZ, with Louis Vuitton boasting a net worth of $47.2 billion and over a 15% growth in value from last year.
According to BrandZ, the recent spike in the luxury market is attributable to luxury brands catering to both older, traditional customers and younger customers who want to evolve with their favoured brands.
Alongside Louis Vuitton, other French brands to appear in the list of the most valuable luxury names include Chanel, who ranked number two with a value of $37 billion, and Hermès at number three with a value of $31 billion).
In terms of growth, Yves Saint Laurent scored top spot with a recorded 45 per cent growth in value at $3.6 billion, with Dior ranking next with a 29 per cent increase.
Other notable names to appear on the list thanks to their net worth include Cartier, Burberry, Rolex and Prada.
Founded in 1998, BrandZ is the world's largest brand equity database.