The Most Powerful Fashion Brands In The World
The luxury market has been growing significantly over the past couple of years and is still continuing on an upwards trend. Experts forecast an annual growth rate for the luxury goods market of 5-6% between 2013 and 2015. The Brain & Company estimated the luxury market to be valued at $274 billion, with a potential to reach an astonishing value of $290 value by 2015.
Whilst the luxury market has been dominated by Louis Vuitton, which continues to be the most valuable luxury brand on a global scale, other names have been emerging as potential market leaders. Gucci and Prada have experienced the most significant growth. With great growth and potential, brands like Prada, Gucci and Hermes may one day overtake the market. and reach the number one spot.
It is believed that Prada and Gucci experienced such high growth in brand value due to an increase in Asian customers, at home and abroad. Gucci is mainly operating in North America and Western Europe, whilst Prada has been proactively expanding and opening stores worldwide. However, both brands put efforts to tap into the Asian market and much of their growth was due to the success of those efforts.
On the other hand, in the past year Louis Vuitton dropped its brand value by 12%, but it sill maintaining a top 30 position in the world’s most valuable global brands. Some experts are questioning the potential of growth for Louis Vuitton, even though it remains the most powerful luxury brand on the market.
This growth in the luxury market has led experts to believe that the luxury goods commerce is immune to economic fluctuations, as it has been growing sharply, in spite of the recession.
Read on to find out the Top 10 World’s Most Powerful Luxury Brands. Each brand will include details about country of origin, founder and date it has been founded, as well as details about the brand value, position in the global market and product prices. Read on to also find some astonishing facts about the highest priced bags in the world.
5. Rolex – Brand Value: $7,9 Billion
Rolex SA, mostly known as Rolex, is famous for its top quality wristwatches, that are designed, manufactured, distributed and serviced by the Rolex brand itself. Rolex SA also has a subsidiary, Montres Tudor SA, and the wristwatches manufactured are distributed under the Rolex brand as well as the Tudor brand.
The Swiss watch manufacturer was founded in 1905 by Alfred Davis and Hans Wilsdorf. It started up in London and after 15 years, in 1919, the operations were moved to Switzerland. Today the headquarters of Rolex are in Geneva, Switzerland.
Rolex is the top five most valuable brand in the world, with a total brand value of $7,9 billion. A Rolex watch from the Pearlmaster collection sells for approximately $53,000.