According to Millward Brown’s BrandZ Top 100 Most Valuable Global Brands survey, now in its 8th year, the luxury brands had become more “accessible, collaborative and experimental”.
The survey brought into focus several interesting aspects. The value of the luxury sector had risen six percent overall in the last year, compared with a 15 percent increase a year ago. According to Millward Brown, luxury firms struggled to attract new customers through the use of social media while keeping exclusivity in balance. “On Facebook, Instagram, Pinterest and other social media platforms, brands across the luxury spectrum mediated the tension between the exclusivity that protects brand desirability and the inclusivity needed to attract new customers,” the survey said. Moreover, BrandZ Top 100 Most Valuable Global Brands revealed that purchases by Chinese and other Asian tourists to Europe “buoyed luxury sales in the economically troubled markets of western Europe”. It’s worth noting that Fendi and Coach brands entered the Top 10 for the first time.
Top 10 global luxury brands
1. Louis Vuitton
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