Last updated on January 10th, 2017 at 06:21 pm
The luxury market has been growing significantly over the past couple of years and is still continuing on an upwards trend.
People related to every class try to follow up the new and changing trends in fashion, purchase these brands to maintain their status to look classy and fashionable.
With the expanding world, a lot of Luxury brands have developed in the market. Luxury goods commerce is immune to economic fluctuations, due to its sharp growth, in spite of the recession. But to catch the taste of elites and affluent, only a few have managed to emerge as the top runner.
Read on to find out the Top 5 World’s Most Powerful Luxury Brands:
#1 Louis Vuitton
Louis Vuitton Malletier, often referred to as Louis Vuitton, is a French fashion house, that was founded by Louis Vuitton in 1984. It is a synonym to fashion no brand has been able to replicate its fame and success. The value of this brand is almost $28.4 billion and is also ranked in the Forbes list of the Most Valuable Luxury Brand. Celebrities like Michael Phelps, Angelina Jolie, Sarah Jessica Parker, Kim Kardashian, Lady Gaga are some of the people whose favorite brand is LOUIS VUITTON. The most famous bag of Louis Vuitton was sold in $10,000. Louis Vuitton is operational in many countries and its brand store is having more than 200 outlets all over the world. The label’s products range from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelry, accessories, sunglasses, and books.
Established in the year 1837 by Thierry Hermes, this 176-year-old brand is a player in ready-to-wear fashion. The main store of Hermes is in Paris. The company is the second most valuable luxury brand in the world. Brand Value: $19,2 Billion, Hermes has a world record with their most famous bag called Hermes Birkin bag and was sold in almost $203,150 and became the most expensive bag of the world. Hermès products include leather, lifestyle accessories, perfumery, luxury goods, and ready-to-wear.
Gucci is the third most valuable luxury brand in the world, with a brand value of $12,7 billion. Gucci was founded in Florence in 1921, by Guccio Gucci, and is famous for its bags, handbags, scarf and many other products as well. Gucci worldwide donates a percentage of the sales for special collections made specifically for UNICEF to go to the United Nations Children’s Fund, supporting education, healthcare, protection and clean water programs for orphans and children. The famous crocodile shoulder bag from Gucci sells for approximately $35,000.
Prada is one of the most expensive brand of the world, an Italian fashion house that was founded in 1913 by Mario Prada, is a fashion powerhouse that specializes in luxury goods for men and women. It has a brand value of almost $9.4 billion. Brand Prada continues to surprise, youngsters with their imaginations and innovations. Prada products include ready-to-wear leather and fashion accessories, shoes, luggage, perfumes, watches and other fashion accessories. The famous Ostrich leather bags from Prada sell for approximately $10,000 a piece.
No list is complete without mention of this brand; this brand is an entity in itself. It was started in 1909 in this world of fashion, founded by Coco Chanel. The headquarter of this brand is in Paris. Brand Chanel follows the famous quote by Chanel herself that ,“luxury must be comfortable, otherwise it is not a luxury.” The company estimated its annual profit to be $7 billion. Chanel is very famous all around the world for its luxurious products. They are involved in making bags, shoes, and perfumes, among which is the No. 5 de Chanel trademark, their signature perfume. The most expensive product of Chanel is its classic bag and its price is $261,000 because it has diamonds on it.