Gucci Resort 2020 ad campaign

LONDON — Gucci and Nike were among the highlights of Interbrand’s 2019 ranking of top global brands, with Gucci the fastest-growing luxury name on the marketing consultancy’s annual list.

For yet another year Apple, Google and Amazon were the first three brands in the ranking, which highlights 200 companies across the technology, beverages, restaurants, luxury goods and automotive sectors by pinning a monetary value to the brand names.

Brands in the luxury sector, such as Gucci, Louis Vuitton and Chanel, stood out for their continued ascent in the annual ranking. Gucci’s brand value increased by 23 percent, and it came in at number 33, behind Budweiser and before Pampers.

According to the report, Gucci is among a group of 31 brands which have had steady presence in the Interbrand ranking since it launched in 2000. An additional 137 names have come and gone over the years, as consumer demands increase and the landscape shifts.

“Gucci leapt ahead of the customer expectation curve with a maximalist creative vision and its irresistible reinvention of iconic products,” said Rebecca Robins, global luxury lead at Interbrand.

“They’re at the very edges of ‘the now and the next’ with everything they do, even experimenting with digital games and game-ification. Relevance is one thing. Maintaining it is another. By tapping into concepts of fluidity for Gen Z, and by incorporating a ‘Millennial shadow committee’ into its direction planning, Gucci has put young people at the very heart of its business […] got its cool back and is the fastest-growing luxury brand on our list.”

See Also: Jennifer Lopez Gives Big Boost to Media Impact Value at Milan Fashion Week

Chanel, which made a comeback in the ranking in 2018 following a seven-year hiatus, was also among the top growing luxury brands, increasing its value by 11 percent this year. It ranked 22 on the list, after Honda and before American Express.

Charles Trevail, global chief executive officer at Interbrand, described the market landscape as evolving quickly and said that customers’ expectations are moving faster than a company’s ability to respond. “The fastest-growing brands are making what we call ‘iconic moves’ — the big bets that transform the way customers interact with brands.”

The report also highlights the increasing influence of luxury brands over the last two decades, with a larger number of brands present in the ranking, with newcomers including Burberry, Prada, Dior and Cartier. According to Interbrand, they have been best at keeping up with tech innovations, social media and the growing popularity of street and sport.

The shift toward more casual clothing, and sport in particular, also boosted the likes of Nike and Adidas which rank 16th and 45th, respectively.

Nike’s dominant position is largely a result of its commitment to retail experiences, with the report highlighting the House of Innovation 000 spaces that Nike opened in Shanghai and New York recently, as well as its “digitally connected” approach to all in-store experiences.

Read More: What Could Devastate Global Luxury Brands

Gucci’s Art Lab, a 37,000-square-foot creative hub in Florence, is another example of a top retail experience highlighted in the report, which will be released later on Thursday.

“Overall, we have seen a refocusing of the retail experience across the luxury and premium categories — fewer openings, but a greater concentration of strategic flagship stores in global destination cities and ultra-prime locations,” according to Robins and Alison Cardy, managing director of the creative agency HMKM.

“The all-important Chinese consumer may be spending more domestically, but the flagship store in destination cities is playing an ever more important role in delivering a brand experience that will help drive sales whether they are at home or online,” said Robins and Cardy, who co-authored a report that was released alongside the Interbrand ranking.

They said that when it comes to the high street, Zara and H&M continued to have presence in the rankings clustered at positions 29 and 30, respectively. Both retailers saw a 3 percent drop in value, which is reflective of the “current woes of the high street, with fast-fashion Internet retail growing fast and an unpromising economic environment.”

Read more from WWD: 

Gucci Losing Brand Heat in China, RBC Report Says

Chanel Is Going Back on the Road For Cruise 2021 Show

New York Fashion Week Tops Media Impact, According to DMR Group

WATCH: What Makes a Fashion Brand Successful?

load comments
blog comments powered by Disqus