All luxury brands are losing ground according to Interbrand: beside one

All luxury brands are losing ground according to Interbrand: beside one

Interbrand’s Best Global Brand 202’s ranking puts technology at the top: but that’s not new. Yet, the luxury segment is also present, even though it has lost ground after 2 years of scaling up. All luxury brands are down, beside from one: Hermès. Gucci, Ferrari and Prada were the only three Italian brands present in the ranking.

Criteria

What are the main criteria considered by Interbrand’s ranking? Three key elements: financial performance of the products or services of the brand. The role of the brand in purchasing decisions. And last, its competitive strength together with the ability to gain the loyalty of consumers and so of having long-lasting growth and profits. The research covers the period going from July 2019 to June 2020. Then, the company conducts its analysis between June and September 2020.

The ranking

The ranking sees Apple, Amazon and Microsoft (which surpassed Google) in the first 3 spots. Amazon, Spotify and Netflix were those that gained the most ground. 3 Italian brands were present: Gucci (number 32), Ferrari (79) and Prada (99). Interbrand’s analysts point out that the ranking was influenced by Covid’s impact, given the shutdown of stores around the world that brought the ranking of entities such as Zara (35th) and H&M (37th) to lose 13% and 14% respectively.

All but one

And, after two years of growth, all luxury brands lost between 1% and 9% in 2020: all but Hermès, which remained in its 28th position. Here is the ranking: Louis Vuitton -2% (in 17th), Chanel -4% (21), Gucci -2% (32), Dior -1% (83), Burberry -8% (97), Prada -6% (99).

In image, a graphic representation by i.mage_lab

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