Porsche, the German car maker, has held the title as the most valuable luxury and premium brand in the world by a large margin, following a 16 percent rise in brand value to US$ 33.9 billion.
A brand renowned for its superior quality and world-class sports car manufacturing, Porsche has cemented itself as the epitome of luxury. Now rising to the challenge of an increasingly eco-conscious world, by launching the first electric vehicle, the Taycan, Porsche became a leader in sustainability, making the company the first conventional luxury car maker to introduce a fully electric model.
Porsche has seen some of the highest long-term growth of any company in our auto rankings, constructed from sports cars and later SUVs and similar models, as the most commercially successful luxury car company. It is a testament to the power and broad popularity of the brand that one of the most highly awaited new models this year is its shift to sports electric vehicles.
Here is the major takeaway from list:-
As a result of a catastrophic pandemic, the world’s top luxury & premium brands could lose up to US$ 35 billion in market value cumulatively.
Porsche marks an electrifying year and holds the status of the most valuable luxury & premium brand in the world.
Givenchy is the fastest growing brand in the market, up 74% to US$ 2.0 billion.
In this year’s ranking, Givenchy is the fastest-growing company, with its brand value growing an incredible 74 percent to US$ 2.0 billion, jumping 11 spots from 37th to 26th at the same time.
The strong performance and growth of Givenchy, especially in its makeup division and through its L’Interdit perfume, contributed to the solid financial performance of its parent company, LVMH, over the previous year. Givenchy has continued to concentrate on further expanding its omni-channel e-commerce website, the Maison Givenchy, which was initially introduced in 2017 to coincide with the first show by former artistic director Clare Waight Keller, the brand’s first female artistic director.
Following its EUR 200 million pledge to restore Notre Dame, LVMH, the world’s largest luxury goods conglomerate, has further extended its philanthropic arm by contributing funds and services to tackle the pandemic.
Five French brands are in the top 10 and have all enjoyed a good year, with brand values rising by 14 percent on average.
Sitting in seventh, Louis Vuitton is the fastest growing brand in the top 10, growing to US$ 16.5 billion by 21 percent. A solid 20 percent brand value growth to US$ 13.7 billion was posted by fifth-ranked Chanel. The company, negotiating the absence of long-time creative director Karl Lagerfeld who died last year in February, posted revenues that broke US$ 12.8 billion in 20