For the ninth straight year in a row, Louis Vuitton has been the biggest and most profitable brand in the luxury rankings. LVMH (Moet Hennessy Louis Vutton SA is their formal financial title) jumped in value to $25.9 billion, a whopping 14 percent over last year. Hermes was second, landing at $21.8 billion and Gucci is third with $16.1 billion.
The numbers were crunched by Millward Brown in their 2014 BrandZ report. Overall, they determined that "luxury is back," as overall brand value increased 16 percent. (It only increased 6 percent the year before.)
Millward Brown attributed the tremendous growth in the market to younger shoppers, writing "the luxury consumer is becoming younger, with different tastes and interest in niche brands. Major luxury brands marketed to this group both for the immediate payoff and to cultivate the next generation of customers. "
The top ten highest valued brands here:
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