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While Apple, Google and Amazon are once again the world’s most valuable brands, luxury labels were the biggest stars on this year’s Best Global Brands ranking, unveiled by brand consultancy firm Interbrand.
By Luxus Plus
The 20th edition of Interbrand’s annual brand valuation report features a series of individual sector reports which delve deeper into the technology, luxury and retail, consumer packaged goods, media, automotive, travel, and financial services industries.
According to the study, the top growing sector for 2019 is luxury with 9 luxury brands making the top 100; this sector sees the highest average brand value growth rate year-over-year at 11%.
The most successful brands in the luxury space are those that have adapted to rapid changes in the global marketplace, including catering to a younger consumer base whose stylistic tastes have shifted toward streetwear, who are tech-first in their purchasing habits, and who increasingly demand for shareable, memorable moments from any brick-and-mortar retail experiences.
Gucci (#33, USD $15.95m) was emblematic of the luxury sector’s success, showing a 23 percent increase in brand value.
Venerable brands Louis Vuitton (#17, USD $32.22m) and Chanel (#22, USD $22.13m) saw a 14% and an 11% increase, respectively, since last year’s report.
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