Surprising probably no one, our favorite fashion brands lead the Vogue Business Index for Summer 2022 of the top 60 luxury fashion brands. Heading the list are Louis Vuitton, Dior, Gucci, Chanel, Ralph Lauren, and Hermès, in that order. The ranking is based on six considerations, or pillars, digital, ESG, omnichannel, innovation, consumer sentiment, and financial assessment. Indeed, the report notes that some of the ranking changes are due to the re-introduction of financial considerations, which was absent from the last report in December 2021.
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Louis Vuitton recovered the number one spot this period with the highest sales figures internationally. rising from number 3. It bumped off its own sister brand Dior to second. Nevertheless, Dior’s competence in digital continues to propel it forward.
Chanel jumped six spots this time to number four, reflecting its financial strength. Indeed, as evident from Chanel’s 2021 results, revenues rose nearly 50% over 2020 (49.6% to be exact) and operating profit jumped 170.6%. No doubt the near doubling of Chanel classic flap handbags helped, despite the pandemic economic and health-related issues and restrictions. And another reflection of the rich getting richer, Chanel’s primary shareholders, the Wertheimer brothers, Alain and Gerard, received $5 billion dollars in shareholder distributions.
Image Credit: Stefano Guidi
Read also:
Chanel Owners Get $5 Billion in Dividends as Sales of Luxury Goods Boom
Chanel Financial Results Press Release
And PurseBop’s latest Chanel reveal: Yes Please, I Would Love a Classic Flap from 22A
As for Hermès, its ranking position in the Vogue Business Index rose by two, also speculated to be due to the inclusion of financial metrics as a consideration. The report notes that “consumers think it offers the best customer service and in-store experience of any luxury brand.”
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Updated: July 5th, 2022
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