Louis Vuitton does it again. After topping the list of the world’s most valuable luxury brands in 2011, the French bag makers are back to the zenith. In a survey conducted by Millward Brown Optimor, it was found that Louis Vuitton’s market worth stands at $25.9 billion. With the latest feat, Louis Vuitton, owned by the Paris based LVMH Moet Hennessy Louis Vuitton, dons the title of most valuable luxury brand in the world for the seventh consecutive year. The second position went to Hermes whose current value of $19.1 billion surpasses previous year’s track record by 61 percent. For those who did not know, Louis Vuitton, the ace manufacturer of laminated canvas bags, also owns a stake in Hermes. So, its celebration time all the way for Louis Vuitton. The third position in the list was reportedly claimed by Rolex, the celebrated Swiss watch brand.
As reports pour in of Louis Vuitton becoming the most valuable luxury brand in the world, 2012, it appears, will prove to be a lucky year for the French bag makers. We had earlier reported on Louis Vuitton stepping up their Asian sales with the opening of a brand new store at Taipei’s prestigious 101 maison. This development was followed by the brand introducing a range of designs that pack oriental culture and signature Louis Vuitton trunk making styles within the same package. The latest news, therefore, promises to be an excellent kick off point for the brand’s future ventures.
According to Nick Cooper, Managing Director of Millward Brown Optimor, there are some key factors which work to get Luxury brands richer and more successful. Heritage, history and quality craftsmanship are the major ones among them.
From Louis Vouitton let us now turn focus on other luxury brands that bagged prestigious rankings. While Chanel managed to grab the fourth position, its value had gone down two percent from previous year’s records. At $6.68 billion, Chanel stayed ahead of Gucci which came fifth in Millward Brown Optimor’s rankings. In what can be described as sad news for all Gucci enthusiasts out there, the Italian luxury brand saw its values dipping 14 percent to $6.42 billion. The company’s worth is reported have been affected by a sudden decrease in owner PPR SA (PP)’s share price
If Chanel and Gucci did not manage to rake in moolah as proficiently as they should have, then for another luxury brand Prada, it was a different story altogether. Making its debut in the luxury ranking at sixth position, Prada looked all set for a grand year ahead. The company, with a total value of $5.7 billion, has recently announced their plans to introduce 80 stores worldwide in the next three years.
The seventh, eighth and ninth positions in the list went to Cartier, Hennessy Cognac and Moet & Chandon respectively. At $4.09 billion, Burberry ranked tenth in the list of most valuable luxury brands. The show, however, belonged to LVMH who apart from being the owner of Hennessy and Moet & Chandon, has stakes in four most valuable brands in the list. To conclude, all we can say is- Louis Vuitton, take a bow!