Louis Vuitton Named World’s Most Valuable Luxury Brand
Iconic French fashion house Louis Vuitton has been named the world’s most valuable luxury brand for the seventh year running.
According to a study by Millward Brown Optimor, the brand is worth $25.9 billion, a seven percent increase from 2011.
Compatriot fashion house Hermès rose to second place with a value of $19.1 billion, up 61 percent on last year, whilst Swiss watch brand Rolex was ranked third at $7.17 billion, a 36 percent gain.
Millward Brown Optimor Managing Director Nick Cooper said: “Luxury is seen as a good investment with people increasingly buying classic pieces rather than high fashion.
“Those who can afford it indulge, including young professionals who, increasingly unable to buy houses, are spending their disposable income on mid-tier luxury.”
Other notable entrants on the list include Prada, which made its debut in the luxury ranking in sixth place with a value of $5.7 billion.
The study, commissioned by WPP Plc (WPP), was based on interviews with consumers as well as analysis of company performance.
Founded in 1854, Louis Vuitton is owned by Paris-based luxury goods conglomerate LVMH.