Luxury Brands Are Constantly Innovating And Brand Value Is Growing.

Interbrand believes that the brand that can change the needs and expectations of consumers is the most successful, and luxury brands do well.

for a long time

Has always been considered to be one of the most likely to do brand premium, but after entering the Internet era, the value of many luxury brands has been declining by the impact of technology Internet companies.

In the past year,

Catching up.

According to CNBC, Interbrand, the latest brand released by the brand consultancy Interbrand, shows that luxury is the fastest growing brand value in the world. The brand value of the nine top brands, such as Louis Vuitton and Gucci, has increased by 42% over the same period last year.

The list shows that Louis Vuitton is the eighteenth most valuable luxury brand, and its brand value increased by 23% to $28 billion 200 million over the same period last year.

After the first earnings announcement this year.

Chanel entered the list of new capitals this year, ranking 23 in brand value of $20 billion.

Gucci ranked 12 to 39, and its brand value increased by 30% to 12 billion 900 million dollars, the fastest growing luxury brand.

According to the list, the 9 brands of LV, Chanel, Gucci, Hermes, Cartier, Tiffany, Dior, Burberry and Prada have a total value of $105 billion 800 million.

Founded in 1974 in Interbrand, New York, the world top 100 brand value list evaluates the financial performance of brand products and services, the role of brand names in consumer purchasing decisions, and the ability of brand to create loyalty.

Although the top ranking companies in the list are still technology companies, for example, Apple has ranked first in the brand value list for 6 consecutive years, and the proportion of scientific and technological enterprises in the list is very high. However, because the value of luxury brands is growing very rapidly, luxury goods are the most brilliant among many industries.

According to the announcement published in the same announcement,

The success lies in brand's accurate prediction and response to cultural trends. Luxury brands try to immerse themselves in street culture, while retaining their core characteristics and attracting a large number of new consumers.

Interbrand Global CEO Charles Trevail also said that the brand that can change the needs and expectations of consumers is the most successful.

In the 2017 list, the value of luxury brands such as Tiffany and Burberry declined, which is related to the pition period of luxury goods industry, and also reflects the urgent need for brands to adopt new strategies.

In the latest list of 2018, the bright brand is the luxury brand that is willing to make changes.

Interbrand regards Gucci's CEO Marco Bizzarri and creative director Alessandro Michele as the biggest promoter of brand growth. Their younger pformation of Gucci has made the brand sales in fiscal year 2017 increase by 42% to 6 billion 200 million euros, and 5 consecutive quarters of sales growth is higher than 35%.

The joint venture between LV and trend brand Supreme has been a great success. In March this year, the street corner Off-White principal Virgil Abloh was appointed as the creative director of men's wear.

From the perspective of growing brand value, the corresponding changes made by these luxury brands in response to the changing needs of consumers have obviously achieved good results.

In addition to the list of brand value in the luxury industry, shares of French luxury group LVMH, Gucci's parent company such as Kai Yun group have fallen recently.

Behind the sluggish stock market performance is analysts' concerns about the slowdown in China's luxury goods market and the possible impact of recent domestic purchases.

However, Boston consulting company and Tencent Inc jointly issued the "China" in September 26th.

Consumer digital behavior report shows that China's luxury market will continue to grow steadily, and the composite annual growth rate of China's luxury goods market will reach 6% by 2024.

And more and more important.

Luxury brands need updated digital strategies.

In addition, because of tariff and VAT adjustment, Hermes and LV have lowered some popular bag prices this year, ranging from dozens to hundreds of yuan.

LV also told interface news that it is trying to reduce the commodity price gap between brands at home and abroad.

In such a situation, the attempt to reduce the price gap between domestic and overseas brands may ease the adverse effects of domestic purchasing.

Rapid and appropriate response based on changing market and consumer behavior is the reason why luxury brands have performed well in this year's list of brand values.

After winning the millennial generation, the brand's journey will continue.