Gucci, Vuitton, Chanel, Amazon are top fashion names in new Interbrand ranking
Luxury’s strength was prominent in the latest Interbrand ranking of the Best Global Brands on Thursday, but even the biggest luxury names couldn’t rival digital when it came to the brands that are front of mind for consumers.
The top 10 was dominated by tech names with Apple, Google and Amazon (the only one with a hefty fashion connection) as the top three. A mix of tech names and long-standing favourite brands - Microsoft, Coca-Cola, Samsung, Toyota, Mercedes-Benz, Facebook and McDonald’s - came next.
But there was good news for who else but Gucci and Louis Vuitton as they sat among the five fastest-growing brands. Anyone who has been following Kering’s results statements won’t be surprised that Gucci grew 30% year-on-year, to drive it to 39th place. And Vuitton was up 23%, putting it at number 18. Chanel made a comeback too, re-entering the listing at number 23, although this reappearance was linked mainly to its shock release of financial figures for the first time recently.
Rebecca Robins, global chief learning and culture officer at Interbrand, said the luxury brands that grew the most were those that are able to connect “the inside to the outside.”
The ranking analyses how the brands are achieving "bold transformation that drives lasting economic value through brand strength." It looks at financial performance, the role the brand plays in purchase decisions, plus its competitive strength and its ability to create loyalty and, therefore, sustainable demand and profit into the future.
Amazon, which has been driving its fashion sales forward with a spate of launches across womenswear, intimates, athleisure and other categories, was the fastest growing brand overall with a 56% uplift.
“A decade after the global financial crisis, the brands that are growing fastest are those that intuitively understand their customers and make brave iconic moves that delight and deliver in new ways,” said Interbrand’s global CEO Charles Trevail.
And that’s certainly translating into cash as the combined total value of the top 100 brands rose above $2trn for the first time, a year-on-year rise of 7.7%.
Copyright © 2022 FashionNetwork.com All rights reserved.