What a wonder: the value of French luxury grew 50% in two years

What a wonder: the value of French luxury grew 50% in two years

In the last two years the overall value of French luxury grew 50%, a much higher average than the +30% of the 50 largest brands from over the Alps. In detail, Louis Vuitton is the most precious brand of all, with a value of 102 billion USD (+72% between 2021 and 2022, the highest variation). Hermès is the second in value (57.5 billion; +48%), followed by Chanel (57.1 billion; +30%). These are the most significant results of the Kantar BrandZ France 2023 ranking of French brands.

The value of French luxury

BrandZ estimated the value by combining financial performances with the opinion of over 84,500 people interviewed. The report highlights the unprecedented capacity of French brands to maintain a “strong relation with customers, thus strengthening customer loyalty and justify the ever-growing price tags”. Vuitton, king of the ranking, benefits from a “justified” price politic on many key markets such as China, USA, and Japan.

Louis Vuitton’s kingdom

Fashion and design are worth 244 of the 424 billion of overall value of the 50 most powerful French brands. This segment’s companies occupy the top 3 places. The first of the list is Louis Vuitton, which consolidates its leadership after having gained its place in 2018. The luxury brand was valued at 35.5 billion USD in 2018 but it’s now at 102 billion. It is also the brand that most grew during 2021, scoring a 72% increase year on year. Behind it is Hermès (also in the same spot since 2018, when it was valued at 26 billion against the current 57.7) and Chanel (13.4 billion in 2018 and 57.1 today). In 8th place is Dior (8.8 billion; +47%). As far as the highest growth goes, after Louis Vuitton, we find Celine (+69%). Hermès is 6th, before Dior.

Photo from Shutterstock

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