“Fashion Week” refers to one four-week circuit: starting from New York fashion week, then comes London, Milan, and finally, Paris. While Wikipedia counts 138 worldwide fashion weeks, these four spots are always the most talked about. These are the events where top houses of the industry unveil their new seasonal collections. Celebrities, magazine editors, and buyers from around the world gather at these cities to see the trends that will define fashion for the new season or the entire year.
Unfortunately, invites to these events are limited. Even if you couldn’t attend any of 2018’s fashion weeks, you’d only need to open Instagram or step foot on the street to see what’s in vogue for the year: brand names. From iconic logos, colors, and emblems, symbols of identity were splashed onto almost every item. Customers proudly wore these names like a badge of opulence and refinement.
When you sport a designer item, those around you are definitely aware of it. It’s difficult to miss brands like Burberry and Supreme when they are plastered in broad letters on various clothing items, be it a bag or a shirt. However, popularity is just one category in the spectrum of factors that make a luxury brand number one. Thankfully, BrandZ has done all the accounting and published the list of most valuable fashion companies of 2019.
10th Place: Prada ($3.5 billion)
Italian luxury group Prada returns to sales growth for the first time in four years in 2018, revealing its turnaround plan is starting to bear fruit. Jointly run by husband and wife team Patrizio Bertelli and Miuccia Prada, the Milan-based but Hong Kong-listed company aims to cement a sales revival that started at the end of 2017 after consecutive years of declines.
Considered an institution in the luxury fashion scene, Prada has lost ground to both old and new rivals in an increasingly competitive industry. However, their new strategy of focusing on store relocations and renovations, digital sales, and new products appears to give them an advantage.
9th Place: Saint Laurent/Yves Saint Laurent ($3.6 billion)
Even at only about one-fifth of the size of Gucci, Saint Laurent is advancing nearly as fast as its sister company. While China continues to be Gucci’s main market, Saint Laurent’s performance is more evenly spread across regions, with Western Europe leading the way.
Fueled by the innovativeness of its execution and creativity of its offers, the organization is expecting a steady, sustainable, and profitable success throughout 2019.
8th Place: Dior ($4.7 billion)
In the buoyant environment of the start of this year, although marked by geopolitical uncertainties, the Christian Dior group continues to focus its efforts on developing its brands. Another bright spot of the brand, which reports said “performed exceptionally well” across all regions and product categories.
7th Place: Burberry ($4.7 billion)
Chief executive officer Marco Gobbetti of the British designer goods group announced that they’ve made outstanding progress in the first year of their plan to transform Burberry. When Riccardo Tisci’s first collections arrived in stores at the end of February, customer reactions were more than encouraging. The brand aims to invest in technology and marketing to build its online sales further.
6th Place: Cartier ($6 billion)
Cartier’s relationship with European royalty dates back for more than a century. The brand’s high-end watches and jewelry are its top offerings. With 16 percent growth in 2018, Cartier still proves to be an extremely profitable venture for parent Richemont despite its 20 percent slump in 2017, due to the luxury industry decline.
5th Place: Rolex ($8.4 billion)
Rolex is a formidable player in the world of high-end wristwatches. The Geneva-based company relies on 4,000 watchmakers in more than 100 countries. Rolex continues to dominate the sports world with endorsements in motorsports, tennis, golf, and yachting.
4th Place: Gucci ($25.3 billion)
Since its foundation in 1921, this leather goods and small luggage store has soared to be a major fashion house. Gucci has since been rejuvenated with a new look from designer Alessandro Michele. Leather products remain its largest segment, representing 57 percent of revenue.
3rd Place: Hermes ($31 billion)
This company engages in the provision of apparel and textiles. From leather goods, silk, perfumes, watches, ready-to-wear, and accessories, the Parisian empire Hermes is a household name when it comes to high-end fashion.
2nd Place: Chanel ($37 billion)
Facing Post-Lagerfeld Era, Chanel says latest revenues were up. The privately-owned French company has found its new artistic director in Karl Lagerfeld’s right hand for more than 30 years, Virginie Viard. Chanel stated that it is in good creative hands as it enters its next phase and doesn’t expect any kind of impact on its financials as a result of the death of Mr. Lagerfeld.
1st Place: Louis Vuitton ($47.2 billion)
Coming in at number one is the French designer brand, Louis Vuitton. The company grew a staggering 15 percent in value over the past year. Louis Vuitton’s growth revolve around its signature leather items and unparalleled ingenuity in all product categories, and magazine editors think Virgil Abloh is to thank.
Having been designated as the creative director for LV Men’s, Abloh has made his presence known with innovative collections that draw on pop-culture and life in New York. Overall, the brand has become more inclusive, catering to traditional customers as well as the younger generation who wishes to be part of a luxury brand.
Brand Z rankings calculated each brand’s value using financial and market data with surveys of around four million consumers in 51 countries. Despite the limited number of people who can afford these products, luxury is still a fast-growing sector. Social media gives these goods a boost in engagement, making them easily recognizable.
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