Ranking lifestyle brands is a monumental task considering the number of brands on offer in the very crowded lifestyle market and the various categories from legacy brands with brick-and-mortar presence to digital-only luxury brands or Direct-to-customer Brands that have seen laudable and noteworthy success. According to South China Post, the international shopping platform and global digital marketplace for luxury goods, Ubuy, recently attempted the daunting task of ranking the most popular luxury brands in a study based on five different metrics. The study produced predictable results: Louis Vuitton was ranked the most popular luxury brand in the world, followed closely by Chanel and Dior.
For the study, 100 of the world's prestigious and popular labels were selected and analysed using five different metrics; global searches, website visits, revenue, social media following, and social engagement. Based on these metrics, research was conducted and the top 10 luxury brands in the world were determined. The Louis Vuitton win was attributed to its monogram canvas and logo having gained recognition as a status symbol to attract and appeal to mainstream consumers. Celebrities, high-net-worth celebrities, and influencers continue to desire these designer labels which by default makes these aspirational brands for the average shopper.
The report goes on to state that the global luxury industry forecast is to grow steadily over the next few years which confirms that consumer interest in luxury brands hasn't declined.
Here's a quick look at the list of the top 10 most popular luxury brands globally, as per the report. Many of these brands have sought to expand their presence in the Asian market with Asian and Indian Ambassadors.
1. Louis Vuitton
Louis Vuitton is known for its high-end leather goods and ready-to-wear and had collections of €79.2 billion in 2022 and profit from recurring operations of €21.1 billion, both up 23%, as per their annual report of 2022. Deepika Padukone was recently announced as the brand's global ambassador, promising more eyeballs for the brand in India.
Ranked number two, Dior is well-known for its haute couture creations as well as a wide product range including accessories, fragrances, and cosmetics. Dior recorded revenue of 79,184 million Euros as per their annual report for 2022. K- Pop Star singer, dancer, songwriter, dancer & a member of the boy band BTS is now the global ambassador of Dior.
Gucci continues to captivate consumers as demonstrated by the company's consistently high search volume of almost 4.7 million monthly searches and ranks high at the number three position. The fashion house's recent move to make Alia Bhatt its first Indian Ambassador is likely to see it gain more traction in the Indian market.
Ranked in the fourth position, Chanel boasts the largest social media following on this list - over 56 million. K-pop icon Jennie from Blackpink was chosen as one of Chanel's Global Brand Ambassadors this year.
Rolex takes the fifth spot thanks to a higher-than-average engagement rate than most other luxury brands.
The luxury brand attracts over two million global monthly searches a month and a 0.71% engagement, Versace boasts one of the most devoted fan base.
7. Michael Kors
The brand earned a respectable US$3.7 billion in 2022 and has celebrity admirers such as Priyanka Chopra and of course one of its Global Brand Ambassadors, Anushka Sharma.
8. Ralph Lauren
Ralph Lauren receives 10 million monthly visitors to its website and made over US$4.9 billion in 2022.
With 5.6 million hits to its website every month and an online following of 32 million, Prada is ranked in ninth position.
Coach ranks at the 10th position with sales of US$6.2 billion last year.Comments