Porsche is once again the world’s most valuable luxury and premium brand, according to the Brand Finance Luxury & Premium 50 2019 report.
The research showed the car-maker had increased its brand value by 54 per cent to US$29.3 billion.
Brand Finance director Alex Haigh commented: “Connotations of luxury extend far beyond fashion brands with this becoming ever more apparent since Porsche yet again tops the Brand Finance Luxury & Premium 50 2019 ranking of the world’s most valuable luxury and premium brands.
“The combination of Porsche’s trusted and long-standing heritage, a commitment to diversification, innovation and after sales-services is what really sets the auto titan apart from its competitors.”
Prestigious jewellery manufacturer and watchmaker, Cartier (brand value up 39 per cent US$13.6 billion), clinched the second-place spot in this year’s ranking, pushing Louis Vuitton (up 29 per cent to US$13.6 billion) down into third position.
The brand, hailed by Edward VII as “the jeweller of kings and the king of jewellers”, has long been the go-to jewellery brand for European royalty. With 300 boutiques worldwide, and the newly renovated flagship London store opening its doors at the end of last year, the brand has successfully recovered from the recent sector slump, further cementing its position as the crème de la crème of luxury jewellery.
There were also three new entrants have made it into this year’s Brand Finance Luxury & Premium ranking: Montblanc (brand value US$925 million), Bobbi Brown (US$786 million) and Fendi (US$573 million). The highest new entrant, Montblanc (38th position), launched the first luxury smartwatch, the Montblanc Summit, at the end of 2018, showcasing the brand’s commitment to digital innovation.
But where there are winners there are also losers.
Sliding down the rankings this year are Italian brands Salvatore Ferragamo (down 20 per cent to US$1.6 billion) and Versace (down 19 per cent to US$857 million).
Salvatore Ferragamo had a difficult 2018, recording drops in both sales and profits largely as a result of unfavourable performances in EMEA and US. The brand has, however continued to grow in Asia, which could help to boost its brand value in the coming year.
The story is similar for Versace, with the brand recording a sales slump over the last year. Fashion giant, Michael Kors (now Capri Holdings), acquired Versace in December 2018 with the hopes of modernisation and brand expansion