Louis Vuitton – The Most Valuable Brand of The World
As per the new ranking process from Millward Brown, and WPP Louis Vuitton has been announced the most valuable brand. In LVMH’s portfolio, the crown jewel in the luxury conglomerate, have the worth of 24.7 billion dollars as per estimation. It gave Louis Vuitton, the position of the most valuable brand ever in the world.
For the calculation of this brand’s value the corporate earnings are observed by the study. The potential for future earnings along with the quality factors like salience, meaningfulness and the distinctiveness are also looked by them. These factors depend on the customer’s attitude towards the purchase of the products. Vuitton is a large brand, and the part of a larger company. Therefore, the financial value of it is a matter, which needs to be figured out for the percentage of contribution to the amount of sales.
The other famous brands, like Gucci -worth 13 billion dollars, Hermes – worth of 19 billion dollars, Chanel -worth of 9 billion dollars, Rolex -worth 8.5 billion dollars, Cartier -worth of 7.6 billion dollars, Prada – worth of 6.5 dollars, Burberry -worth of 5.7 billion dollars, Michael Kors -worth of 3.8 billion, and Tiffany -worth of 3.2 billion. As per the list of the last year, Vuitton and Chanel are the only brand labels, which increased up to the six percent and fifteen percent respectively.
Prada is the brand which dropped up to thirty percent. And due to this reason, this brand slipped down to seventh position from the fourth position. But Chanel showed an upward trend and arrived to the fourth position from the seventh, which it got the last year. It has cut down the prices of the products to sell them more in China. And as per Millward Brown it was a smart move. Another fastest growing brand is Apple in the sector of technology.