Louis Vuitton Named Most Valuable Luxury Label in the World
Take a bow, Marc Jacobs.
The just-released Millward Brown Optimor's 2012 BrandZ study shows that the label—which also ranked 21st among brands in 13 leading industries—has enjoyed a 7 percent uptick in value since last year, while Hermès came in second thanks to a 61 percent growth and a value of $19.1 billion.
Rolex, meanwhile, rose 36 percent to clinch a distant third-place finish with a value of $7.17 billion. Chanel and Gucci, in fourth and fifth place, respectively, saw a decline in value, while sixth-place Prada made the list for the very first time.
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"Luxury is seen as a good investment, with people increasingly buying classic pieces rather than high fashion," Millward Brown Optimor managing director Nick Cooper said in a statement. "Those who can afford it indulge, including young professionals who, increasingly unable to buy houses, are spending their disposable income on mid-tier luxury."
Congrats, all! Now go and spread some more of that Moët around. You've earned it.