We’ve all seen the outstanding growth of stand alone menswear stores over the years, but do we know who is performing well and how they are scaled?
Whilst the luxury market has been dominated by Louis Vuitton, which continues to be the most valuable luxury brand on a global scale, other names have been emerging as potential market leaders. Gucci and Prada have experienced the most significant growth due to an increase in Asian customers, at home and abroad. Gucci is mainly operating in North America and Western Europe, whilst Prada has been proactively expanding and opening stores worldwide. However, both brands put efforts to tap into the Asian market and much of their growth was due to the success of those efforts.
This growth in the luxury market has led experts to believe that the luxury goods commerce is immune to economic fluctuations, as it has been growing sharply, in spite of the recession.
MenStylePower believe two things are happening here. Firstly, the Asia/Pacific market is looking to invest in brands that resonate with the individuals DNA and core beliefs – so brand that has a legacy, a charity arm, a purpose will find itself attracting more customers. And Secondly, as we become more time-poor, we want to know the purchases we are making have longevity and status. Men in particular don’t have time to fluff and don’t shop like women do.
But more about that in another post!
Coach, Inc. is a luxury leather goods company from America. The company was founded in Manhattan, New York, in 1941. Coach is currently run by CEO Lewis Frankfort.
Coach has over 600 stores in the United States and Canada, and is currently the top 10 most valuable luxury brand in the world, with a brand value of over $3,2 billion.
Fendi is an Italian luxury fashion house, which was founded in Rome, in 1925, by Adele Casagrande. Fendi has more than 117 stores worldwide, with headquarters in Rome, Italy.
The luxury goods company, Fendi, is the ninth most valuable luxury brand in the world, with a brand value of $4,6 billion.
Burberry Group plc, mostly known as Burberry, is a luxury fashion house from Britain. The company was founded in 1856 by Thomas Burberry. It started up in Basingstoke and now it has headquarters in London. Burberry operates under three brands, including Burberry Prorsum, Burberry London and Burberry Brit.
Burberry is one of the top 10 most valuable luxury brands in the world, with a total brand value of over $3,2 billion. The luxury goods company operates more than 500 stores in over 50 countries worldwide. The famous Burberry coat made of peacock feathers sells for approximately $35,000. If you dare, Peacock!
Société Cartier, mostly known as Cartier, is a French designer and manufacturer of jewellery and watches. The company was founded by Louis-François Cartier in 1847, in Paris and still has its headquarters in Paris, run by CEO Stanislas de Quercize.
Cartier is the seventh most powerful luxury brand in the world, with a total brand value of $6,3 billion. The company has over 200 stores worldwide and operates in more than 125 countries. One of their finest collections, the Cartier WatchTank Anglaise, sells for approximately $32,000.
Chanel is a private French company that was founded by Coco Chanel in 1909. Today the company is owned by Alain and Gerard Wertheimer, who are the grandsons of the initial business partners. The company’s headquarters are in Paris. The brand is famous for its top luxury goods, among which is the No. 5 de Chanel trademark, their signature perfume. Marilyn Monroe was one of the most famous celebrities representing Chanel No. 5.
Rolex SA, mostly known as Rolex, is famous for its top quality wristwatches, that are designed, manufactured, distributed and serviced by the Rolex brand itself. Rolex SA also has a subsidiary, Montres Tudor SA, and the wristwatches manufactured are distributed under the Rolex brand as well as the Tudor brand.
The Swiss watch manufacturer was founded in 1905 by Alfred Davis and Hans Wilsdorf. It started up in London and after 15 years, in 1919, the operations were moved to Switzerland. Today the headquarters of Rolex are in Geneva, Switzerland.
Rolex is the top five most valuable brand in the world, with a total brand value of $7,9 billion. A Rolex watch from the Pearlmaster collection sells for approximately $53,000.
Prada S.P.A., mostly known as Prada, is an Italian fashion house that was founded in 1913 by Mario Prada. The company has the headquarters in Milan, Italy, and is run by CEO Patrizio Bertelli.
Prada is the fourth most valuable luxury brand in the world, with a brand value of $9,4 billion. The brand experienced a sharp rise since 2012, increasing in value by 63%, from $5,7 billion to $9,4 billion.
Prada was also introduced at number 95 on the Brandz list of Top 100 Most Valuable Global Brands 2013.
Gucci is the third most valuable luxury brand in the world, with a brand value of $12,7 billion. Gucci was founded in Florence in 1921, by Guccio Gucci. Today Gucci is part of the Gucci Group and is owned by Kering, a French company mostly known as PPR. The current CEO at Gucci is Patrizio di Marco.
Gucci has experienced a significant growth since 2012, as it increased its brand value by 48%, from $8,6 billion to $12,7 billion. Gucci was also introduced as number 68 in the Top 100 Most Valuable Global Brands 2013.
Hermès International S.A., mostly known as Hermès Paris, or just Hermès, is a French luxury manufacturer that was founded in 1837. The company is the second most valuable luxury brand in the world. The French manufacturer ranked 40 in the Brandz Top 100 Most Valuable Global Brands last year.
Louis Vuitton Malletier, often referred to as Louis Vuitton, or LV, is a French fashion house, that was founded by Louis Vuitton in 1854. Crowned the most valuable luxury brand in the world, Louis Vuitton has a current brand value of $28.4 billion and ranks number 10 on Forbes list of The Most Valuable Luxury Brands.
In spite of dominating the luxury market, Louis Vuitton has experienced a loss in brand value of 12% since 2012.
The list with the top 10 of the word’s most powerful luxury brands reveals the significant lead of Louis Vuitton, the growth of well-known brands such as Gucci and Prada and the expansion of Coach, especially due to their collaboration with Billy Reid for a top luxury item.
Another interesting fact to note is that 5 out of the top 10 most powerful luxury brands in the world are from France, and 2 from Italy. Only three others countries have a place in the top 10 most powerful luxury brands, such as America, Switzerland and England.