Sorry Louis Vuitton. According to an article in Forbes, Gucci is the number one brand and tops the list for most luxury aficionados. Last year, the Nielsen Company, a market research firm conducted a survey and asked 25,000 consumers in 48 countries which luxury brand they would buy if money were no object. Besides Gucci, respondents chose Chanel, Calvin Klein, Louis Vuitton and Christian Dior. Hey, where is YSL?
It’s easy to see why Gucci reigns supreme. In 2007, sales increased 11%; that’s on top of a 17% increase in 2006 and a rise of 18.4% in 2005. Gucci is a part of the Gucci Group, which has a number of fashion brands in its portfolio, including Yves Saint Laurent (ah, there it is) and Sergio Rossi. PPR, a French holding company publicly traded on the Euronext exchange in Paris, owns the Gucci Group.
"Gucci manages to offer high fashion and very commercial items," says Michael Macko, fashion director at Saks Fifth Avenue "That red and green stripe is some of the most iconic luxury branding ever created, and people want a piece of it."
When looking at who actually buys designer brands today, the United Arab Emirates and Hong Kong come out on top. Considering the US dollar is so weak, is it really a surprise?
This is scary…over a quarter of North Americans questioned believe that fakes are just as good as the real thing, but in Asia, where most of the fakes are produced, consumers hold them in low regard, with only 8% putting them on par with the genuine article.
"People in Asia can pick out a fake bag like no one I’ve seen," says Boyd, "But in the U.S., people are less aware and less concerned, because in the U.S. luxury brands are considered more mainstream."
Fakes suck. OK?
Read "World’s Most Desirable Luxury Brands" here