Interbrand released its 15th annual Best Global Brands report, the definitive guide to the world’s most valuable brands.
Luxury brands performed solidly in this year’s report: seven of this year’s 100 most valuable brands hail from from the luxury sector. The top luxury brands of 2014 include: Louis Vuitton (#19, -9%), Gucci (#41, +2%), Hermès (#46, +18%), Cartier (#58, +8%), Prada (#70, +7%), Tiffany & Co. (#71, +9%), and Burberry (#73, +8%).
Below are the top luxury sector highlights from this year’s findings:
Louis Vuitton (#19, -9%):
Despite declining 9 percent in brand value this year, the brand continues to place great emphasis on higher end products and evolving its overall value proposition. In order to retain strong brand loyalty with global consumers – especially those in the vital Asia Pacific market – the brand must leverage its core strengths in extraordinary design, technical innovation, style, and authenticity.
Hermès (#46, +18%):
The iconic French luxury house is the ‘top riser’ of the category, boasting an impressive 18 percent in brand value. The brand’s relevance to luxury customers remains strong in all geographic areas, with double digital growth from 2013 through Q1 2014, across leather goods and saddles, accessories, silk and textiles. To better connect with customers in a key market for the brand, China, it recently joined Weibo and WeChat. Significantly, Hermès, is once again run by a family member, with a sixth-generation Axel Dumas now in charge of guarding authenticity and guiding growth in a new era.
Burberry (#73, +8%):
When it comes to exceeding customer expectations and anticipating desires, Burberry is at the vanguard of its sector. This year, the British luxury brand sustained double-digital growth, keeping it at the forefront of the current global shift in luxury consumption. From catwalks to content, Burberry continues to blur the physical and virtual worlds by seamlessly integrating off lien and online experiences. Burberry’s digital innovation collaborations include partnerships with WEChat and with Google (featuring Burberry Kisses). Another Burberry first was opening its virtual Tmall store, which now provides an authentic presence in China’s hot e-commerce market, where counterfeiting posses a threat. As Burberry approaches its 160th anniversary, the secret to the brand’s longevity becomes abundantly clear: the ability to perpetually preserve its rich heritage while continually exploring creative, high-tech ways to engage and delight its many admirers. With the successful leadership transition from Angela Ahrendts to Christopher Bailey, 2014 heralds a new era for Burberry – perhaps the beginning of its transition into the Age of You.