Gucci, Louis Vuitton, Chanel: Luxury sees most brand value growth in 2019
today Oct 18, 2019
Digital brands remain top of mind for consumers, but its the luxury sector that saw the most growth in 2019, according to the latest Interbrand ranking of the Best Global Brands, released on Thursday.
According to the Interbrand report, Apple, Google and Amazon retained their hold on the top three rankings. Facebook, however, which first entered the Best Global Brands report in 2012, dropped five places from #9 in 2018 to #14 this year.
Other tech names that dominated the top 10 include Microsoft at #4, as well as Samsung at #6, while other long-standing favourites were also able to hold their positions - Coca-Cola (#5), Toyota (#7), Mercedes-Benz (#8), McDonald’s (#9) and Disney (#10) – as top brands.
Meanwhile, new brand entrants also hold close ties to the digital space with Uber coming in at #87 and LinkedIn making its debut at #98 and joining the ranks of the world’s most valuable brands.
Still, the power of luxury should not be underestimated, as this sector saw the highest average brand value change against last year’s figures, recording an 11 percent growth rate.
Top performers include Gucci, which ranked #33, jumping 23 percent compared to last year, with a valuation of USD $15,949 million.
Louis Vuitton was equally in the top 25 at #17, before Chanel, which took home the #22 spot.
Charles Trevail, global chief executive officer of Interbrand, said the brands to grow the most are those that will exceed customer expectations, as they continue to be “more informed, more connected and more demanding than ever before.”
“For decades, the entire discipline of brand-building was based on the concept of brand positioning, but in today’s accelerating markets, customer expectations outstrip static brand positions. Brands can no longer be considered separate to businesses and will be judged on what they do, not just what they say; and about trust, not just delivery," said Trevail.
“The age of brand positioning is over. In a world where customer expectations will continue to move faster than businesses, static brand positions and incremental change will just about keep brands in the game – but it will take, brave, we would say ‘iconic’, moves, to make brands leap ahead of customer expectations and ultimately deliver extraordinary business results,” addedTrevail.
Top brands equate top cash flow with the combined total value of the Top 100 jumping 5.7 percent from 2018, reaching $2,130,929m.
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