Fashion is big business and Louis Vuitton is seemingly the top earner. The French company has been named the most valuable clothing brand in the world.
According to a report by Business Of Fashion, LV will be slotted as the top apparel brand on Interbrand’s yearly “Best Global Brands” list. As per the official press release the chart “analyzes how the Best Global Brands are achieving bold transformation that drives lasting economic value through brand strength. Key trends include customer-centricity, positive utility, the rise of luxury, and the success of subscription models.”
For 2018 the luxury house came in at a number 18. Additionally it was named as one of the five “Top Growing Brands” with a 23 percent growth from 2017. The high placement should come as no surprise considering their recent announcement of Virgil Abloh as the director of menswear.
“Louis Vuitton’s strength of point of view runs through everything they do. They have been relentless with their engagement with millennials, they’ve gone a lot deeper with their appointment of Virgil [Abloh] and they’re investing in people” explained Rebecca Robbins Global Chief Learning & Culture Officer at Interbrand.
The brand consultancy firm notes that the luxury sector as a whole has experienced a spike. “It is astonishing. Luxury is the biggest story of the report. It’s their ability to connect to cultures and next generations. They have cracked the code by having a point of view in the market. Luxury is a space of excellence, whether its fashion, leather or jewellery” Robbins stated. Other noted fashion brands who scored high are Chanel (#23), Zara (#25), H&M (#30), Hermes (#32) and Gucci (#39) who was also noted for their hyper growth.
Apple, Google and Amazon were the top three brands respectively on the top 100. You can view the entire list here.