- FashionUnited |
January is the month for the annual World's Top 100 Most Valuable Luxury Brand awards, organized by the World Luxury Association in Beijing. Dubbed as the "Luxury Oscar Awards", the association aims to bring together the top 100 luxury brands in such diverse fields as aircraft, yachts, cars, jewelry, watches, fashion, liquor, cosmetics, resorts and Innovation brands.
The rapid development of China's luxury consumer market is garnering global attention and the World Luxury Association's official report on 2012 shows that China has become the world's largest consumer of luxury goods. The report predicts: With the phenomenon of RMB appreciation and depreciation of the Euro and the number of Chinese traveling to Europe in 2012, total consumption of luxury goods is expected to reach 59 billion Euros – a record high. The spending power of Chinese overseas will urge China to become the world's most powerful luxury consumer purchasing country.
The top fashion brands that made the top 100 include: Hermes, Chanel, Louis Vuitton, Christian Dior, Ferragamo, Versace, Prada, Fendi, Giorgio Armani and Ermenegildo Zegna.
Despite the Chinese being the largest consumer body of luxury goods, there was only one Chinese domestic luxury company that made the awards.
The World Luxury Association is currently the world's largest luxury brands research and management international non-profit organization and is focused on the international luxury markets, specialising in brand management, market research, brand intellectual property protection, consumer arbitration, trade promotion and government affairs. The Most Valuable Luxury Top 100 list is based on luxury brand's influence on a global scale, market share, consumer feedback and other composite scores - for currently the world's most credible rankings.