In The Leading Luxury Brands 2008, its premiere study of the world’s leading luxury brands, Interbrand, a global branding consultancy agency, examines how brands in the complex luxury sector are building brand value. According to the company, the ability of these brands to be resilient to economic crises could not prove true this time.
“Until recently it seemed that luxury brands remained stable through economic downturns. However, it is clear today, as we plunge forward into the challenges of global recession that no industry will remain insulated,” said Jez Frampton, Group Chief Executive of Interbrand.
“Luxury’s success at expanding its markets during the recent times of prosperity have left the sector more vulnerable today. And yet, there remains a tier of pure luxury brands that minimize risk and generate long-term value,” Frampton added.
Interbrand’s study identifies the top 15 global leading luxury brands by financial brand value, and taps into the management trends that define their achievements in standing the tests of time.
The study identifies that while leading luxury brands offer important lessons to others and are likely to fare better than most in the uncertain economic times ahead, the markets are proving to be unpredictable.
“The social implications of this economic upheaval may forever alter the luxury market’s affluent consumer. The consistency with which leading luxury brands have managed themselves suggests that a ‘business as usual’ attitude in the uncertain times ahead will not be enough. As the excesses of earlier days disappear, constant determination, conviction and creativity will be a must,” said Jean-Baptiste Danet, Interbrand’s European CEO and a recognized leader in luxury branding.
