Louis Vuitton may be aspiring to emulate the exclusivity of the Hermes brand, but Millward Brown Optimer’s 2012 BrandZ study confirmed that they are still the world’s most valuable luxury label. According to the report, the French fashion house has a brand value worth $25.9 billion, which grew by 7 percent since last year. Hermes gracefully took second place with a value of $19.1 billion, but it did outpace Louis Vuitton in terms of growth with its 61 percent uptick.
Last year, Rolex was the world’s sixth most valuable brand but showed a remarkable three-spot jump this year to earn a third-place finish with its $7.1 billion value. Chanel clutched the fourth spot, albeit showing a 2 percent decline in value. Gucci settled for fifth as the label’s value decreased by 14 percent. Completing the top ten are Prada ($5.7 billion), Cartier ($4.8 billion), Hennessy ($4.5 billion), Moët & Chandon ($4.2 billion) and Burberry ($4 billion).
In general, spending in the luxury segment gained momentum after years of economic struggles among consumers. The study revealed North America and Europe were the markets that truly indulged, though luxury spending in China and various fast-growing areas also helped in propping up the industry.