World?s Top 50 Luxury Brands Lose US$7 Billion in Value
Porsche comes out as the world's most valuable luxury brand in 2021, while clothing brands account for more than half of the total brand value.
The post World’s Top 50 Luxury Brands Lose US$7 Billion in Value appeared first on LUXUO.
Porsche ranks as the world’s most valuable luxury brand. Image: Porsche
The total value of the world?s top luxury and premium brands has declined by 3 per cent, or approximately US$7 billion.
According to Brand Finance’s Luxury & Premium 50 2021 report, the value of the top 50 luxury brands in the world shrunk from US$227.1 billion in 2020 to US$219.5 billion this year as markets grapple with the Covid-19 pandemic.
Brand Finance defines luxury as ?brands that are well known for high quality but are not widely considered or purchased due to price?. This means high brand awareness and a strong reputation for quality but low purchase conversion.
World?s Top 10 Luxury Brands
Germany?s Porsche tops the list as the most valuable brand with a value of US$34.3 billion. The brand ranks considerably ahead of Gucci (second-ranked), whose brand value went down 12 per cent to US$15.6 billion.
Synonymous with timeless class and luxury, Porsche is striving to push the boundaries and redefine the future of the sportscar. The auto giant has been undertaking the shift towards sustainability through the launch of their Taycan. Porsche celebrated strong sales with this model, totalling over 20,000 units sold last year....
The post World’s Top 50 Luxury Brands Lose US$7 Billion in Value appeared first on LUXUO.
Porsche ranks as the world’s most valuable luxury brand. Image: Porsche
The total value of the world?s top luxury and premium brands has declined by 3 per cent, or approximately US$7 billion.
According to Brand Finance’s Luxury & Premium 50 2021 report, the value of the top 50 luxury brands in the world shrunk from US$227.1 billion in 2020 to US$219.5 billion this year as markets grapple with the Covid-19 pandemic.
Brand Finance defines luxury as ?brands that are well known for high quality but are not widely considered or purchased due to price?. This means high brand awareness and a strong reputation for quality but low purchase conversion.
World?s Top 10 Luxury Brands
Germany?s Porsche tops the list as the most valuable brand with a value of US$34.3 billion. The brand ranks considerably ahead of Gucci (second-ranked), whose brand value went down 12 per cent to US$15.6 billion.
Synonymous with timeless class and luxury, Porsche is striving to push the boundaries and redefine the future of the sportscar. The auto giant has been undertaking the shift towards sustainability through the launch of their Taycan. Porsche celebrated strong sales with this model, totalling over 20,000 units sold last year....
-------------------------------- |
|
Real or Fake" Luxury Watchmaking Battles a Crisis of Authenticity
29-04-2024 04:04 - (
luxury )