Bloomberg reports that Louis Vuitton, with its monogrammed bags and luggage, handily outranks its luxury brand competitors for the fifth straight year. With a reported value of $19.8 billion, Vuitton ranks 29th worldwide for all industries–and more than twice the combined value of Hermes and Gucci combined.
Even though the luxury sector of the market has experienced an overall decline of 3 percent in value, Louis Vuitton, Hermes, Gucci and Tiffany managed to grow their businesses by focusing on craftsmanship, heritage, and pricing maintenance said Bloomberg. Included in the Brandz 2010 study cited in the story are other brands in the top 10 luxury ranking. They include Chanel, Henessey, Rolex, Moet & Chandon, Cartier and Fendi.
Prada, regrettably, was dropped from the top 10 rankings.
The most valuable brand in the world, though, would have to be Google, with its estimated value of $114.3 billion according to the Millard Brown Optimor’s 2010 Brands raking of the most valuable luxury labels.
In our closets and chests, though, most of us would prefer to have labels such as Vuitoon, Hermes, Gucci, Tiffany, Rolex, Cartier or Fendi.
In our stock accounts? A thousand shares of Google would do quite nicely!
