Michael Kors, Tory Burch, Dior Top Fast-Growing Luxury Brand List

Michael Kors, Tory Burch, and Christian Dior top a new list of the fastest-growing luxury brands in the world.

The list, from financial firm Deloitte, ranked Kors number one, noting it has seen 64 percent growth from 2010 to 2012. Burch came in second, exhibiting 55 percent expansion in the same period. Christian Dior rounded out the top three with 27.8 percent growth.

Watchmaker Fossil Group was listed fourth, seeing 27 percent growth in the two-year span. Graff Diamonds also made the roster, coming in seventh, with 25.5 percent growth.

The full list and report can be seen here.

For overall size, LVMH was ranked the top luxury brand company, followed by Richemont and Estée Lauder. 

The report added that the luxury market is poised for positive growth in the United States, which is undergoing what it calls a “nice recovery,” despite continued concerns about unemployment. The healthy equity market and increased income growth from top earners should be a plus for luxury businesses, it added.

America remains the No. 1 market for luxury goods, with spending twice that of its nearest competitor, Japan. By 2018, China will rank number two, the report predicted.

The report estimated that online sales comprised 5.3 percent of the overall luxury market in 2013, representing a 23 percent compound growth rate over the last five years. Jewelry and watch companies were the least likely to have e-commerce sites, the report said.

 

JCK News Director