The German automaker once again surpasses the 100 most powerful luxury houses in the Brand Finance ranking. Louis Vuitton retains second place, but Gucci loses out to Chanel.
Each year, brand valuation consultancy Brand Finance publishes over 100 reports ranking 5,000 brands in all sectors and countries. The 100 most valuable and powerful luxury and prestige brands in the world are the subject of a separate and highly informative annual ranking, Brand Finance’s Luxury & Premium 50.
And in 2023, for the sixth year running, Porsche, the famous German carmaker, leads its rivals in this 2023 “Luxury & Premium” ranking, with a brand value of $36.8 billion.
Fashion also in the lead
Behind automobiles, fashion once again dominates the ranking. With a brand value of $26.3 billion, Louis Vuitton remains in second place.
Gucci (Kering Group), whose results have been sluggish for some time and who replaced Alessandro Michele with Sabato de Sarno as artistic director at the end of 2022, loses third place to Chanel ($19.4 billion). With a brand value of $17.8 billion, Gucci slips back to fourth place.
Next come Hermès ($14.2 billion), Dior ($13.2 billion), Cartier ($12.5 billion), Rolex ($10.7 billion), Tiffany & Co ($7.4 billion) and Lamborghini ($7.4 billion).
Personalization
“Luxury brands have long thrived on offering exclusive, personalized experiences, and this trend has continued after COVID-19,” points out Alex Haigh, director of Brand Finances. Using data and technology, these brands are now generating personalized recommendations, bespoke products and tailored experiences for their customers. This focus on individualization boosts customer loyalty and helps brands stand out in a crowded marketplace”.
This focus on customization is one of the reasons why Porsche is so successful, as Brand Finances points out that the brand “combines an exceptional product with a very personal customer experience”. While Porsche is expanding its product portfolio with new sports car concepts, it is still concentrating on limited editions and developing its “Sonderwunsch” program, which involves customers right from the design stage of their car, to achieve a highly personalized result.
“The luxury sector is no stranger to new sustainable trends either, adds Alex Haigh (Brand Finances). Its players are embracing sustainability by incorporating environmentally-friendly materials, implementing ethical sourcing and production practices, and communicating their commitment to responsible business operations“.
And in this area too, Porsche stands out. The brand has the highest Sustainability Perception Value (SPV), also measured by Brand Finances, at $8.1 billion. It is well ahead of Louis Vuitton (1.89 billion), Ferrari (1.7 billion), Chanel (1.4 billion), Gucci (1.2 billion), Hermès (1.014 billion), Lamborghini (1.012 billion), Dior (0.9 billion), Cartier (0.85 billion) and Estée Lauder (0.76 billion).
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