PRN: Recession Fails to Dent Consumer Lust for Luxury Brands

Recession Fails to Dent Consumer Lust for Luxury Brands [18-March-2012] LONDON, March 19, 2012 /PRNewswire/ -- Brand Finance's latest Global 500 study of the world's top brands suggests that, far from cutting their cloth, consumers are turning their backs on traditional household favourites and lower end products and embracing luxury lifestyle and indulgent brands despite the grim economic outlook.

Persone AA New 371, Apparel, David Haigh, Â Technology, Christian Dior Fashion France, Christian Dior AAA, Louis Vuitton Fashion France, Louis Vuitton AAA
Luoghi Stati Uniti d'America, Regno Unito, Morava, London
Organizzazioni Daimler Automobiles Germany, Tiffany & Co, Apple, Google
Argomenti economia, impresa, commercio, industria

19/mar/2012 01.02.58 PR Newswire Turismo Contatta l'autore

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Recession Fails to Dent Consumer Lust for Luxury Brands

 
[18-March-2012]
 

LONDON, March 19, 2012 /PRNewswire/ --

Brand Finance's latest Global 500 study of the world's top brands suggests that, far from cutting their cloth, consumers are turning their backs on traditional household favourites and lower end products and embracing luxury lifestyle and indulgent brands despite the grim economic outlook.

The Brand Finance® Global 500 report shows how the global downturn has spawned a new breed of recession proof and aspirational "Alphabrands" which we turn to for quality regardless of the economic conditions.  Bucking the trend for consumers to look to lower end products during times of economic uncertainty, our results show that consumers are increasingly eager to indulge in high quality cutting edge design and couture. Some of the world's top fashion chains have experienced soaring profits with big brands such as Louis Vuitton ($US 4.9 billion), Hermès ($US 3.4 billion) and Polo Ralph Lauren ($US 3.3 billion) increasing their brand value.

2012 has also seen the re-entry of high end fashion houses such as Prada and Coach whilst Christian Dior and Burberry appear as new entrants in the Global 500 tables. Luxury jeweller's brand Tiffany & Co have also made the Global 500 for the first time ($US2.9 billion) whilst bespoke Swiss watch makers, Cartier, entered the ranking of the top brands with a value of ($US 3.1 billion).

As consumers continue to indulge themselves during the downturn, brands such as Rolls Royce have seen an increase of 17% in brand value to US$3.1 billion whilst both Daimler and BMW have benefitted from this renewed interest in luxury automobiles with brand increases of 20% and 5%.

Further evidence of consumers' lust for luxury has been seen by the drop in value of high street supermarkets such as Sainsbury's (now valued at $US 5.8 billion), ASDA ($US9.4 billion) and even Marks and Spencer's ($US4.5 billion) who have all suffered a difficult year.

The latest tech gadgetry appears also to be a must for today's consumers.  Technology lifestyle brands also dominate the table, increasing their standings on last year's table by 79%. 49 technology companies appear in this year's Global 500 making it the most valuable sector by some margin. Lifestyle technology brand, Apple has leapfrogged Google to be named as the world's most valuable brand, having the highest ever valuation calculated by Brand Finance at an impressive $US70.6 billion.

David Haigh, CEO of Brand Finance, commenting on the tables stated: "The rise to prominence of luxury and lifestyle brands in this year's report is quite impressive. Whilst the world remains shrouded in economic misery, people are investing their hard earned cash in brands they feel they can rely on to produce quality, long lasting products. It is also an encouraging sign for the economy to see that the overall value of the Global 500 increase by 3.3% to $US3,415 billion from last year."

Brand Finance's Top 15 Luxury Brands 2012

     Global Global      Rank   Rank                                                       Brand Value      2012   2011        Brand         Industry Group      Domicile        2012       1      8    Apple             Technology         United States  $70.6 billion       22     23   BMW               Automobiles        Germany        $21.2 billion       32     46   American Express  Financial Services United States  $18.2 billion      201    259   Louis Vuitton     Fashion            France          $4.9 billion      258          Daimler           Automobiles        Germany           $4 billion      320    339   Hermes            Fashion            France          $3.4 billion      325    337   Polo Ralph Lauren Fashion            United States   $3.3 billion      357          Cartier           Fashion            Switzerland     $3.1 billion      329          Prada             Fashion            Italy           $3.3 billion      359    405   Rolls-Royce       Automobiles        United Kingdom  $3.1 billion      360          Coach             Apparel            United States   $3.1 billion      371          Burberry          Fashion            United Kingdom    $3 billion      384          Tiffany & Co      Retail             United States   $2.9 billion      420    498   Gucci             Fashion            France          $2.7 billion      464          Christian Dior    Fashion            France          $2.5 billion 


Table continues

                                                   %       Global   Global                    Brand  Increase       Rank     Rank                      Rating in Brand       2012     2011   Brand              2012   Value            1        8 Apple              AAA+    139%           22       23 BMW                AAA-     5%           32       46 American Express   AAA-    17%          201      259 Louis Vuitton      AAA     24%          258          Daimler            AA-     New          320      339 Hermes             AA+      9%          325      337 Polo Ralph Lauren  AA-      6%          357          Cartier            AAA-    New          329          Prada              AA+     New          359      405 Rolls-Royce        AA+     17%          360          Coach               AA     New          371          Burberry           AA+     New          384          Tiffany & Co       AAA-    New          420      498 Gucci               AA     21%          464          Christian Dior     AAA-    New 


Brand Finance's Top 10 Most Valuable Global Brands 2012

                                                                           Brand     Rank Rank                    Industry                    Brand Value  Rating     2012 2011      Brand           Group        Domicile        2012       2012      1    8   Apple            Technology    United States  $70.6 billion  AAA+      2    1   Google           Technology    United States  $47.5 billion  AAA+      3    2   Microsoft        Technology    United States  $45.8 billion  AAA+      4    4   IBM              Technology    United States  $39.1 billion  AA+      5    3   Walmart          Retail        United States  $38.3 billion   AA      6    18  Samsung          Manufacturing South Korea    $38.2 billion  AAA-      7    7   General Electric Manufacturing United States  $33.2 billion  AA+      8    16  Coca Cola        Beverages     United States  $31.1 billion  AAA+      9    5   Vodafone         Telecoms      United Kingdom $30.0 billion  AAA+      10   32  Amazon           Technology    United States  $28.7 billion  AA+ 


For the full Global 500 and the Global 500 Report visit:
http://www.brandfinance.com

Media Information:

Brand Finance plc
James Baker
Head of Communications
T: +44(0)20-7389-0400
j.baker@brandfinance.com

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