Louis Vuitton Ranks as Top Global Luxury Brand
Anthony DeMarco, JCK Senior Editor -- JCK-Jewelers Circular Keystone, 4/24/2007 9:07:00 AM
Louis Vuitton, one of the flagship brands of LVMH Moet Hennessy Louis Vuitton, has been ranked as the top global luxury brand, according to a recent report.
Louis Vuitton is one of six luxury brands to make it into the Global Top 100 Brands, an annual ranking of the world's brands by the Financial Times and British market research firm Millward Brown Optimor. The rankings were published Monday in the British business newspaper.
Louis Vuitton ranked 20th overall in the survey. Other luxury brands making the top 100 list are Chanel (79), Cartier (84), Hermes (85), Gucci (89), and Rolex (100).
Milton Pedraza, chief executive officer of the Luxury Institute, a ratings and research firm that specializes in high net-worth consumers, says the methodology of the rankings favors the large retailers with multiple product lines. For Rolex to be included in the top 100 is a credit to how the company positions itself as a luxury brand that is earned through accomplishment.
"It's a right of passage when you buy a Rolex," Pedraza says. "It's an achievers watch for successful people. That's really unique in the luxury world."
He adds, "You may graduate to other brands but you go through Rolex."
Four luxury brands that did not make the Global Top 100 list, but were listed among the top ten global luxury brands are: Hennessy, Moet & Chandon, Fendi, and Armani.
Four of the top ten luxury brands (Louis Vuitton, Hennessy, Moet & Chandon, and Fendi) are part of the LVMH Moet Hennessy Louis Vuitton luxury conglomerate. Cartier's parent company is Compagnie Financiere Ricehmont. Gucci's parent company is PPR. The remaining companies are independently owned and operated.
Pedraza says that one of the lessons to be learned from the rankings is the importance in maintaining your exclusivity.
"One way to stay luxurious is not to go down market with you product," he says. "The number of rich people is growing significantly. There's so much wealth being created that the rich will come to you if you are an exclusive and unique."
Among retailers who deal in jewelry, Wal-Mart ranked as the top global brand (seventh overall) followed by eBay (fourth among retailers, 43rd overall), and Target sixth among retailers and 52nd overall).The top global brand, according to the survey, is Google, followed by General Electric, Microsoft, Coca-Cola, and China Mobile.
