2020 was a particularly, strange year for the luxury sector. Brands through all industries in the diverse strongholds, from watches, cars and leather goods had to pivot their operation to fit the times. They had to cope with unplanned extra costs. Statistics indicate that the luxury industry as a whole is anticipated to have reduced by about 20% in 2020, with brands suffering revenue losses worth tens of billions of dollars. It is important that when buying luxury brands especially in the fashion industry you make use of online reviews such as UK.collected.reviews, to know more about about fashion brands, and also to ensure you are buying from reputable shops. In this article the top valued luxury brands in 2020 are discussed.
Coach brand is arguably the most affected luxury brand by the pandemic. This is due to the fact that it has its headquarters in New York, one of the worldwide epicentre of the virus at a certain instance. Its value in 2020 dropped by 9.7% .It is likely that this apparel brand may take quite some time before it recovers from the pandemics effects fully.
Coach value in 2020: USD$6.81 billion
Coach value in 2019: USD $7.54 billion
Growth rate: -9.7%
Founders: Miles Cahn, Lillian Cahn
CEO: Joshua Schulman
Headquarters: New York
Parent Organisation: Tapestry
The apparel brand Dior, had a decent score in 2020. It experienced an 8.6% growth which can be attributed to its robust marketing and commendable sales strategies.
Dior value in 2020: USD6.86 billion
Dior value in 2019: USD6.32 billion
Growth rate: +8.6%
Founder: Christian Dior
CEO: Sidney Toledano
Parent organisations: LVMH, Semyrhamis SA.
The Swiss brand Rolex was hardly hit by the closure of some of its showrooms and had a 2.2% drop in revenue in 2020.
ROLEX value in 2020: USD $7.87 billion
ROLEX value in 2019: USD $8.04 billion
Growth rate: -2.2%
Founders: Alfred Davis, Hans Wilsdorf
CEO: Jean Frederic Dufour
Headquarters: Geneva, Switzerland
Parent organization: Foundation Hans Wilsdorf
The luxury brand Ferrari didn’t perform badly and based on factors such as staff satisfaction, marketing investment, loyalty, familiarity and corporate reputation, Ferrari was arguably the strongest premium and luxury brand globally, with its 2019 new models being attributed for its solid 9% revenue growth in 2020.
Ferrari value in 2020: USD$9.05 billion
Ferrari value in 2019: USD$8.32 billion
Growth rate: +8.7%
Founder: Enzo Ferrari
CEO: Louis C. Camilleri
Headquarters: Maranello, Italy
Parent organisation: Exor
The French label Hermes remained strong in 2020 and came out with a great showing. Through its series of robust sales and marketing campaign it recorded a 9.1% growth in brand value.
Hermes value in 2020: USD $11.90 billion
Hermes Value in 2019: USD $10.92 billion
Growth rate: +9.1%
Founder: Thierry Hermes
CEO: Axel Dumas
Parent organization: H51 SAS
Despite the uncertain times created by the pandemic, the French Icon Chanel still recorded an enormous growth rate. Having a brand value growth of 20% to attain an USD13.7 billion value. The brand showed an impressive result even after experiencing the pandemic adverse effects coupled with the fact that it was the first year since its long-standing creative director Karl Lagerfeld passed away.
Chanel value in 2020: UDS$13.70 BILLION
Chanel value in 2019: USD11.48 billion
Growth rate: +19.4%
Founder: Coco Chanel
CEO: Alain Wertheimer
Headquarters: Paris: France
Parent organisation: CHANEL International B.V.
This is one of the apparel brands that was able to endure through the storm brought about by the pandemic. Its focus on its jewellery offering through 2020 led to its 10.1% growth in brand value.
Cartier value in 2020: USD $15.01 billion
Cartier value in 2019: USD 13.64 billion
Growth rate: +10.1%
Founder: Louis Francois Cartier
CEO: Cyrille Vigneron
Parent organisation: Cie Financiere Richemont SA
Louis Vuitton was rated as one of the fastest growing brand in the year 2020. All through the pandemic, Louis Vuitton experience a 21% revenue growth and hit USD $16.5 billion.
Louis Vuitton value in 2020: USD $16.47 billion
Louis Vuitton value in 2019: USD$13.57 billion
Growth rate: +21.4%
Founder: Louis Vuitton
CEO: Michel Burke
Headquarters: Paris, France
Parent organization: LVMH
The Italian fashion brand Gucci experienced a 20% growth in 2020. Resulting to the brand receiving one of the greatest followings in fashion.
Gucci value in 2020: USD$17.63 billion
Gucci value in 2019: USD $14.66 billion
Growth rate: 20.2%
Founder: Guccio Gucci
CEO: Marco Bizzarri
Porsche, recorded an increase of 16% in brand value attaining a $33.9 billion value, cementing itself as an epitome of luxury. The company was able to achieve the great results owing to its new model releases and sustainable practices.
Porsche value in 2020: USD 33.91 billion
Porsche value in 2019: USD $29.34 billion
Growth rate: +15.6%
Founder: Ferdinand Porsche
Headquarters: Stuttgart, Germany.
In conclusion, this article has provided 10 of the most valued luxury brands in 2020.