Millward Brown Optimor just released their annual list of the World’s Most Powerful Luxury Brands. They’ve noted that the luxury category overall is down 3%, and brands that focused on heritage rather than high fashion fared better.
1. Louis Vuitton: up 2% to $19.78 Billion
- Focused on their primary consumer, the Jetsetter.
3. Gucci: up 2% to $7.59 Billion
- Developed a partnership with Christie’s to appraise vintage Gucci luggage and handbags.
4. Chanel: down 11% to $5.55 Billion
- The decrease in sales is a sign of the times. Their classic quilted bag was still a good seller, as well as fragrances and cosmetics, but people were not willing to spend the extra money on ready-to-wear.
5. Hennessy: down 1% to $5.37 Billion
- This LVMH brand is super popular in China.
6. Rolex: down 14% to $4.74 Billion
- Suffered due to the recession, just like Cartier
7. Moet & Chandon: down 12% to $4.82 Billion
- Still the #1 champagne brand despite the decline.
8. Cartier: down 19% to $3.96 Billion
- Severe decline in sales to 3rd party retailers.
9. Fendi: down 8% to $3.2 Billion
- Known for “it” bags in the US, super popular in Asia; ready-to-wear designed by Karl Lagerfeld as an answer to Gucci’s ready-to-wear.
10. Tiffany & Co.: up 6% to $2.38 Billion
- Did not place last year; brand refused to discount in 2009, plans to expand to Asia and Western Europe.