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If you have wondered which of the world’s many well-regarded luxury brands ranks highest for popularity in 2023, new research might just have provided an answer.
The study in question is courtesy of the Ubuy marketplace for luxury goods, which found that, on the basis of five different metrics, Louis Vuitton was the most popular high-end brand across the globe.
Trailing closely behind, however, were the likes of Chanel, Gucci, and Dior, and it is fair to say the full rundown makes very interesting reading for many a client of a luxury brands marketing agency.
A study that thoroughly analysed the world’s premier luxury names
As reported by the South China Morning Post and elsewhere, the study drew upon a series of metrics to put 100 of the world’s best-known and most prestigious high-end brands under the microscope. Specifically, those metrics were global searches, global website visits, revenue, social media following, and social engagement.
The researchers combined these factors in order to determine the 10 luxury brands from around the globe that commanded the greatest public interest and consumer appeal.
The results of the study come at an interesting time, with some experts predicting that the worldwide luxury industry will grow by up to 6% a year over the next few years.
Indeed, a study by Bain & Company earlier this year found that the luxury market’s consumer base was set to reach 500 million by the end of this decade – at which point, it is expected that Generations Y, Z and Alpha will together account for at least 80% of global purchases.
So, which prestigious labels achieved the highest positions in the rundown?
As aforementioned, taking the number one spot was Louis Vuitton, which probably shouldn’t be a great surprise, for a number of reasons. The French luxury fashion house – with its history dating back to 1854 – enjoys an A-list client roster, and continues to see considerable demand for its iconic ready-to-wear collections and high-end leather goods.
Sure enough, LV not only attracts more global monthly searches and website visits than any other brand – 8.3 million and 15.5 million respectively – but also achieved sales exceeding US $18.6 billion in 2022.
Dior, however – which took second place among the world’s most popular luxury brands in this ranking – pulled off some impressive statistics of its own. It recorded the highest revenue of any luxury fashion brand last year, of US $74.6 billion.
As for the Italian legacy brand Gucci, which rounded out the top three, it has a consistently stellar search volume of nearly 4.7 million monthly searches to its credit.
Making up the rest of the top 10 were Chanel (the Parisian fashion brand with a social media following of more than 56 million), the Swiss watchmaker Rolex, the Italian powerhouse Versace, Michael Kors, Ralph Lauren, Prada, and Coach.
Are you coordinating your high-end brand to sustainable growth this year?
Every luxury and fashion brand, of course, is on its own journey, and that journey can be a greatly challenging one at times during 2023. So, you may be eager to ensure you have the right dedicated luxury brands marketing agency by your side, to help you plot the best possible path ahead.
And it couldn’t be easier to reach out to our team of digital, creative, and strategic experts here at Skywire London, to learn how we could best work with your brand.
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