Brand Finance 2022 report: luxury dethrones fast fashion
The 2022 report by London consultancy Brand Finance reveals that among the top 50 brands in the apparel universe, the value of luxury has increased by 21%, from $103 billion last year to $125 billion this year.
By Eva Morletto13 avril 2022
Sportswear brands are also growing steadily: Nike holds the top spot as the most profitable fashion brand. The iconic brand has been among the most powerful companies since the establishment of the ranking. During the two years of the pandemic, which forced entire populations to stay home, the demand for comfortable sportswear exploded. All the well-known brands have increased: along with Nike (33 billion dollars, + 9%), there is Adidas (just over 14 billion dollars, + 2%).
On the podium, alongside the sports giant, are Louis Vuitton (23.4 billion) and Gucci (18.1 billion). And still in the top 10, there are other must-haves: Chanel, Cartier and Hermès. Of the ten brands with the strongest growth in value in recent months, seven are from the luxury sector: Louis Vuitton (+58%), BOSS (+54%), Van Cleef & Arpels (+37%), TAG Heuer (+35%), Saint Laurent (+34%), Moncler (+32%) and Celine (+29%).
It is of course the ever-increasing use of e-commerce and the digitalisation of the market that has facilitated the rise of these luxury houses. Luxury acted as a "pressure relief valve" for many consumers during the pandemic: why not buy a designer item, rather than take a trip - impossible because of the closure of borders? With the development of "luxury vintage", branded objects have seen a parallel trend: they are now increasingly valued as long-term investments, just like works of art.
Brand Finance not only considers the actual value of companies, but also takes into account other parameters such as the strength of the companies and their business performance. In terms of these parameters, we find Dior at the top of the ranking. The brand's dynamism over the past year is a major factor in this, thanks to its original marketing campaigns on YouTube or Tiktok, among other things.
Just behind Dior are Louis Vuitton, Gucci and Rolex. Luxury this year has considerably overtaken fast fashion.
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