Since 2006, Millward Brown’s brand equity database generates a list of the top global brands known as BrandZ. The database holds data from more than 650,000 consumers and professionals across 31 countries, comparing over 23,000 brands. BrandZ ranks brands’ value by their earnings and revenue potential, by measuring their worth as indicated by consumer spending. It’s a brand valuation analyses and provides strong evidence of the importance of branding for business leaders.
The results of the 9th annual edition of BrandZ made headlines. Google rose to #1 and forced Apple to the #2 spot after holding the reign for three years. Another highlight is the continued dominance of technology brands on the list, with one-fifth of the brands coming from this sector. But the primary theme to take away for this report is recovery. The luxury industry category and the value of brands within luxury rose by 16 percent, as more consumers in a broad demographic become more comfortable with luxury.
Louis Vuitton is the highest-ranking luxury brand within the Global Top 100 (#30). Louis Vuitton has turned out to be more high-priced and is a more valuable brand than Starbucks, BMW & Nike. Luxury brands Gucci and Prada could be battling with Louis Vuitton and Hermès in coming years. Gucci grew by 27 percent to $16.1 billion as you can see in the chart below.
Gucci’s brand leverages its strong heritage and continues to embrace the digital world.
The overall results for the luxury industry is growing and positive. Luxury is seen as a good investment, and luxury products engage consumers who want to buy classic pieces as well as high fashion. The industry is able to capture the attention of younger consumers, and is able to remain desirable to their original customer.
As luxury brands continue to increase in value, the value of luxury packaging will continue to grow as well. A brand generates trust for a company, for its products, and for its services. Package presentation reinforces the brand value and leaves a lasting visual impression on its consumers.