Despite coronavirus, top luxury brands' value increased: Report
Louis Vuitton, Chanel, Hermes and Gucci are among 100 most valuable brands
Despite the economic downturn caused by the coronavirus pandemic, luxury brands still increased in value, according to recent reports.
On Tuesday, WPP and Kantar released their annual ranking, the 2020 BrandZ Top 100 Most Valuable Global Brands, which included four luxury brands.
The top five brands overall were Amazon, Apple, Microsoft, Google and Visa, according to a press release.
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In total, the 100 companies that made it onto the list saw their collective brand values increase by 5.9 percent to $5 trillion, the release said.
The four luxury brands that made it to the top 100 were Louis Vuitton -- owned by LVMH -- Chanel, Hermes and Gucci -- owned by Kering.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LVMUY | LVMH MOËT HENNESSY LOUIS VUITTON SE | 168.89 | +0.71 | +0.42% |
| HESAY | HERMÈS INTERNATIONAL SCA | 247 | -0.01 | -0.00% |
| PPRUY | KERING SA | 36.96 | +0.88 | +2.44% |
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Though they didn’t make it to the top-100 list, the following most valuable luxury brands included Rolex, Cartier, Dior, Yves Saint Laurent, Burberry and Prada, according to a report from The Fashion Law.
Louis Vuitton shop with shoppers in Sweden, pictured in 2012. (iStock)
Together, those top-10 luxury brands are worth $177 billion, The Fashion Law reported.
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Luxury was one of six brand categories that saw an increase in value despite the coronavirus, according to the fashion website. The BrandZ ranking analyzed 14 brand categories, the website said.
The luxury category saw an increase in value because those brands have “strong brand equity,” which can add “resilience,” The Fashion Law reported, citing the BrandZ insights.
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Scroll down to see how the top luxury brands ranked on the overall BrandZ list and how much their brands are worth, according to the report.
Gucci
BrandZ Overall Ranking: 49
Brand Value: $27.2 million
Hermes
BrandZ Overall Ranking: 39
Brand value: $33 million
Chanel
BrandZ Overall Ranking: 34
Brand Value: $35.1 million
Louis Vuitton
BrandZ Overall Ranking: 19
Brand Value: $51.7 million