Vuitton, part of the LMVH Group that peddles other highfalutin stuff like Moet & Chandon champagne, Dior perfume and TAGHeurer watches, now has a brand value of a mere $22.7 billion. That's down 12 percent - bagloads for this sort of thing - from a year ago. It managed to keep ahead of number two Hermes, which held steady with a $19.1 billion brand value.
But the world's fashion snobs are increasingly adorning themselves with Gucci and Prada wares. Gucci surged 48 percent to $12.7 billion, earning the number three spot, while Prada soared 63 percent to a brand value of $9.45 billion, ranking fourth.
It seems that Vuitton's rivals "are better managing the trade-off between exclusivity and affordability," Bloomberg writes, citing the report. Another factor:
“Prada’s brand awareness in China, Russia, Brazil and the Middle East continues to rise,” said Anastasia Kourovskaia, vice-president of Millward Brown Optimor EMEA.
The rankings were part of Millward Brown's broader set of global standings called BrandZ Top 100 Most Valuable Global Brand. Apple topped all at $185 billion, followed by Google, IBM, McDonald's and Coca-Cola, in that order.
Luis Vuitton ranked 29th overall, just ahead of Samsung, which surged 51 percent in brand value to $21.4 billion. Facebook tallied 31st, having plunged 36 percent in value to $21.2 billion (click here for a full set rankings).
Rolex, Chanel, Cartier, Burberry, Fendi and Coach rounded out the Top 10 luxury companies. For some reason Wal-Mart didn't make the luxury cut (although they finished a solid 18th among all global brands, at $36.2 billion). I think I'll still buy my classy socks there.