The world’s 3 most powerful luxury brands are French
The 2024 edition of Kantar BrandZ’s ranking of the world’s 100 most powerful brands has once again revealed France’s dominance of the luxury market. Indeed, Louis Vuitton, Hermès and Chanel top the podium.
First place on the podium: Louis Vuitton. This luxury brand remains the most powerful in the world, with a value of $129.8 billion. With growth of 4%, the house continues to seduce consumers with its historic heritage and iconic products, from handbags to ready-to-wear collections. Its sales strategy and collaborations with cultural icons, most recently Blackpink’s Lisa and Paralympic athlete Timothée Adolphe, keep it at the top.
In second place, we undoubtedly find Hermès. The brand is valued at $93.7 billion. This success is based on its high-end positioning, with exclusive offers and high-quality handcrafted products. Hermès has also benefited from strong demand in the American and Chinese markets. Its ability to maintain high prices, despite a sluggish economy, testifies to the strength of its brand and its loyalty to sustainable craftsmanship… All the while adapting to modern expectations.
Finally, Chanel is in third place with a valuation of $60.2 billion. The Parisian luxury brand continues to fascinate fashionistas with its timeless identity and iconic products, such as No.5 perfume and quilted bags. The fashion house, with 8% growth, has successfully navigated the fashion and beauty markets with meticulous attention to brand image. It relies on sophisticated advertising campaigns and an exclusive distribution network.
The rest of the top 10 of the world’s most powerful luxury brands
Other major houses also feature in the ranking of the world’s 10 most powerful luxury brands. Gucci, once known as a benchmark, has suffered a major setback since the appointment of Sabato de Sarno as artistic director of the brand’s collections. Gucci’s value is down 9% on the previous year. This fall is attributed to a slowdown in sales in several key markets, notably in Europe and America. The Italian label, valued at $33.8 billion, must now reassess its strategy if it is to return to the podium.
In fourth place, Dior is showing good momentum, with a valuation of $12 billion. Cartier follows with 10% growth. Rolex is enjoying remarkable growth of 15% by 2023. Saint Laurent, in eighth place, has now overtaken the American brand Tiffany & Co. Prada closes the top 10 with a valuation of $5.1 billion. These brands benefit from sustained demand in both the fashion and jewelry sectors. They are trying to diversify their offer to meet the expectations of new generations of consumers. The latter are particularly sensitive to environmental and social issues.
