Louis Vuitton retained its spot as the world's most valuable luxury brand, with a BrandZ-appended value of $51.8 billion. Image credit: Louis Vuitton
By Luxury Daily News Service
France’s Louis Vuitton was named the world’s most valuable luxury brand in the third annual BrandZ Top 75 Most Valuable Global Retail Brands Ranking.
The LVMH-owned brand was valued at $51.8 billion by the BrandZ report’s producers, ad agency conglomerate WPP and its Kantar market research arm.
Louis Vuitton went up one spot in ranking to fifth place compared to last year.
French toast
Two other French rivals cracked the top 10 list.
Chanel took ninth place, down one from last year, with a $36.1 billion brand value appended to it in the BrandZ ranking.
Hermès retained its 10th-place ranking with a brand value of $33 billion.
While impressive, luxury brands paled in comparison to others on the Top 10 BrandZ list.
Louis Vuitton, Chanel and Hermès cracked the top 10 list in the BrandZ 2020 Top 75 Most Valuable Global Retail Brands Ranking. Image credit: WPP, Kantar
At No. 1 was Amazon, which retained its preeminent position with an astounding brand value of $415.9 billion, a growth of 32 percent from last year. The Seattle-based retailer accounted for 27 percent of the brand value in BrandZ Top 75 rankings.
China’s Alibaba was next, mirroring last year’s runner’s-up spot, with a 2020 brand value of $152.5 billion.
Fast-food giant McDonald’s retained third place with a brand value of $129.3 billion.
U.S. home furnishings retailer Home Depot held the fourth spot, as it did last year, with a brand value of $57.6 billion.
Footwear and apparel maker Nike swapped places with Louis Vuitton this year, coming in sixth with a $50 billion brand valuation.
Coffee shop chain Starbucks retained seventh position with a brand value of $47.8 billion.
Walmart, the world’s largest retailer, swapped places with Chanel to take the eighth spot on the rankings and a $45.8 billion brand valuation.
"Brand value isn't just determined by financial performance, but also by reputation in the eyes of consumers,” said Graham Staplehurst, global strategy director for BrandZ at Kantar, in a statement.
“How retailers behave now in terms of helping people through the crisis, as well as the way in which they treat their staff and whether they comply with government and health advice, will be important to their survival,” he said.
“Those that have actively demonstrated their relevance and usefulness and continue to do so as consumers' lives start to get back to normal, will be best-placed to strengthen customer relationships both in the recovery phase and the long-term."
Please click here to download the 131-page BrandZ 2020 Top 75 Most Valuable Global Retail Brands Ranking
