Louis Vuitton tops ranking of global luxury brands

The latest global brands ranking by WPP and Kantar Millward Brown show luxury companies have increased their value by 28 percent, with Louis Vuitton, Hermès and Gucci in the top three rankings. Louis Vuitton and Hermès are valued at 41.1 billion and 28 billion dollars respectively.

Gucci leads the luxury brands in value rise

“Gucci led the Brandz luxury Top 10 in value with tremendous one-year gain of 66 percent. Over 12 years, the Gucci brand increased 414 percent in value. Its recent bold designs and colours capture the mood of the time, and Guggi increase its scores in Meaning Difference and Trust, “ says Susannah Outfin, Managing Partner Mindshare.

2018 marks the 13th annual BrandZ ranking, where value is measured by financial performance and consumer perception. Eight out of the Top 10 global brands are technology or tech-related brands. This category continues to dominate the rankings with Google and Apple retaining the number 1 and 2 spots, growing +23 percent to 302.1 bn dollars and +28 percent to 300.6 bn dollars respectively. Amazon moved into the no.3 position ahead of Microsoft, growing +49 percent to 207.6 bn dollars, while Tencent ranked 5 ahead of Facebook (6) growing +65 percent in brand value to 179 bn dollars, up three places from last year’s ranking.

One of the key factors driving brand growth today is digital engagement with consumers. From leveraging social media to embracing influencers, brands that are seeing success are finding ways to turn digital marketing into sales.

“Consumer expect more from the luxury brands than the products themselves. They are demanding experiences. Look at Louis Vuitton’s storefront, for example. It’s always spectacular,” said Rubi Pabani Managing Partner at Mindshare.

Brand building action points for luxury

Be bold, take risks, be willing to communicate a unique point of view both in design and communication. Heritage is important but even a royal family needs to refresh sandpit on a modern face.

More than in most categories, luxury is about brand and originality of design, not analysis of data. Luxury brands should be neither data-driven nor data-adverse Artistic intuition, rather than data, connects fashion with the zeitgeist. But data can inform artistic intuition without subverting it.

As the market for luxury expands with new, younger consumers, it is important to be present in diverse media, which means both social media and the traditional fashion press. Print is resuming among young people as more tactile and tangible than digital.

Be exclusive, with good manners

For luxury exclusivity is essential. Being snobby, however, is poor manners. Don’t alienate the younger customer whose buying power you may need in the future.

Photo credit: Louis Vuitton Cruise collection, source Louis Vuitton website Source: https://fashionunited.in/

Read More........ → August 13, 2019

In 2018, Indians Abroad Sent A Whopping US$80 Billion Back Home; Highest In World

The UAE is one of India’s major source of remittances, where around three million Indian expats are based

Washington: The Indians living abroad have sent a whopping US$80 Billion, approximately 5,71,000 Crore Indian Rupees, in the current year helping the country retain its position as the world's top recipient of remittances, according to World Bank report released Saturday.

India, which is also one of the world’s top exporters of labor, has not only retained its position as the world's top recipient of remittances but it also recorded a 22.5 percent jump from last year’s figure, according to the latest World Bank report.

China came in second with $67 billion, followed by Mexico and the Philippines with $34 billion each, and Egypt with $26 billion.

The World Bank Migration and Development Brief accords the increase to “stronger economic conditions in advanced economies,” as well as healthy outflows from some GCC countries like the UAE, which reported a 13 percent growth in outflows for the first half of 2018.

The UAE is one of India’s major source of remittances, where around three million Indian expats are based — the largest among the country’s foreign national communities.

According to a report by the Reserve Bank of India, 26.9 percent of total remittances to the country came from the UAE, followed by the US at 22.9 percent and Saudi Arabia at 11.6 percent. India has been consistent in its remittance growth rate for the past three years — from $62.7 billion in 2016 to $65.3 billion in 2017.

Other South Asian countries also recorded improvements in remittances such as Bangladesh and Pakistan — 17.9 percent and 6.2 percent in 2018 respectively.

For 2019, The World Bank however projected that remittances growth for the region will slow to 4.3 per cent due to a moderation of growth in advanced economies, lower migration to the GCC and the benefits from the oil price spurt dissipating Source: http://ummid.com/

Read More........ → December 28, 2018