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Despite coronavirus, top luxury brand’s value is still increasing

 

 

 

 

 

 

 

 

 

 

 

 

 

Despite coronavirus, top luxury brand’s value is still increasing

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Despite the economic downturn caused by the COVID-19 pandemic, the 2020 edition of the BrandZ ranking of the most valued brands in the world revealed that the world’s leading brands had grown by 6% in value to nearly $5 trillion. A growth explained by a luxury more in line with the new expectations of consumers, which was able to adapt to the change of era and the rise of a post-Covid-19 society.

 

Growing “brand value” in luxury goods

 

The BrandZ™ ranking, published on June 30, reported for the world’s 100 most highly valued brands a constant increase of +6% in value in 2020 against +7% in 2019, for a total value of nearly $5 trillion.

 

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This means that despite the economic cost of the COVID-19 pandemic, the most powerful brands have continued to grow and increase in value.

 

The continued growth in the value of BrandZ’s Top 100 brands shows that strong brands are in a much better position than they were during the global economic crisis of 2008-2009″ , commented David Roth, President of BrandZ.

 

Specifically with regard to the value of luxury brands, which was calculated based on their financial data as well as consumer views, the top names on the list for 2020 are Louis Vuitton, Chanel, Hermès and Gucci, ranked 19, 34, 39 and 49 respectively.

 

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Featured photo : © Louis Vuitton

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