The world of luxury has grown within the past couple decades as experts say that the annual growth rate is expected to increase to nearly 6%. Brands like Prada, Hermes, and Gucci are projected to overtake the market by 2018.
On the other hand, while Louis Vuitton recently dropped value by 12%, the brand remains as one of the most valuable luxury brands.
With that said, here are the top 10 luxury brands in the world.
Coach – $3.2 Billion
Founded in 1941, this Manhattan brand is a luxury leather goods company with over 600 stores in the United States and Canada. Currently, the brand is among the top 10 most valuable luxury brands in the world with products that usually sell around $500. The recent collaboration with Billy Reid produced one of the priciest bags with a worth of $20,000.
Fendi – $3.6 Billion
The Italian luxury brand was founded in 1925 by Roman Adele Casagrande. During a time when women fought for women’s rights, Fendi women gave fresh insight on their taste and what their lifestyle was post-war. In fact, the Fendi sisters were the ones who noticed a talented coming French designer, who is now known as Karl Lagerfeld. Soon he changed the House of Fendi and introduced an entirely new way of fur designs.
With luxury brand is the ninth most valuable brand in the world with over 110 stores around the world. The famous “baguette” handbag sells up to nearly $5,000 per item.
Burberry – $4.1 Billion
Burberry, another luxury fashion brand from Britain was founded in 1856 by Thomas Burberry. Operating three brands understand the label Burberry has opened more than 500 stores in 50 countries across the globe. The famous coat is made of peacock feathers that cost over $35,000.
Cartier – $6.3 Billion
Also known as Societe Cartier, the French jewelry manufacturer and designer of watches was founded in 1847 by Louis-Francois Cartier. As the seventh powerful luxury brand, the company has opened more than 200 stores around the globe and operated in over 120 countries. The iconic Watch Tank Anglaise costs as estimated $32,000.
Channel – $7 Billion
Founded by Coco Chanel in 1909, Chanel is a French luxury brand that is famously known for its luxury items. The iconic No. 5 de Chanel perfume is a signature trademark for the name. In fact, Marilyn Monroe was one of the first to represent the classic fragrance of Chanel No. 5 to the world. Among the many precious Chanel items, the “Diamond Forever” bag was sold at more than $260,000.
Rolex – $7.9 Billion
Famous for their quality watches, Rolex designs, manufactures distributes, and services all aspects of the brand. The Swiss watch brand was established in 1909 by Hans Wilsdorf and Alfred Davis. The company was first established in London, however, moved to Geneva Switzerland. The Pearlmaster collection sells for more than $50,000.
Prada – $9.4 Billion
The Italian house of fashion was established in 1913 by Mario Prada. As the fourth most luxurious brand in the world, Prada only continues to increase in value by a sharp rise of 63% since 2012. The famous Ostrich leather bag is sold for more than $10,000 each.
Gucci – $12.7 Billion
Founded in 1921 by Guccio Gucci, the brand is the third largest luxury brand in the entire world. Owned by Kering, a French company, Gucci has had strong growth since 2012 as the value increased by almost 48% since 2012. The famous Crocodile shoulder bag currently sells for $35,000 per piece.
Hermes – $19.2 Billion
Kermes is another luxury brand that was founded in 1937. The company is the second largest in the world. The signature orange bag costs nearly $4,500. However, Hermes set a world record as the famous Birkin Bag was sold at approximately $203,150 at an auction in 2011.
Louis Vuitton – $28.4 Billion
Louis Vuitton often referred to as LV, is another French mogul house is relatively modern as it was founded in 1984. Ranked as the most luxurious brand in the world, Louis Vuitton is among the top list of luxury brands on the Forbes list. On average, a Louis Vuitton bag usually sells from $500 to 10,000. The Tambour Monogram watch series sells for as much as $29,000.
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