Luxury Goods - In economics, a luxury good is a good for which demand increases more than proportionally as income rises, and is a contrast to a "necessity good", for which demand increases proportionally less than income.[citation needed] Luxury goods are often synonymous with superior goods.
These brands are the most popular Luxury Brands in the industry.:
Ralph Lauren store on 72nd Street, New York City
Ralph Lauren - The Ralph Lauren Corporation was established in 1967 by Ralph Lauren (before known as Ralph Lifshitz). He creates a line of men's ties and it was a success. Because of that he earned a boutique in Bloomingdale's in 1969 In the same year he releases a women's suits tailored like for men's. In 1971, Polo Ralph Lauren launched its first women's collection of apparel and the first stand-alone store was opened in Beverly Hills, California. Ralph Lauren began to be world known brand during 1981 when they opened a store in New Bond Street in the West End of London, England. The company expanded in series of lines like: Polo Ralph Lauren, Black Label, Purple Label, Lauren Ralph Lauren, RLX, RRL, Denim & Supply; and there is also Big & Tall, Golf sportswear, Tennis sportswear, Collection, Blue Label, Ralph Lauren Childrenswear, Baby Ralph Lauren, Ralph Lauren Home: Bedding and bath textiles and other home accessories, Ralph Lauren Paints: Home interior paints and paint accessories. It's brand value is $4.04 billion.
Prada Store in Via Montenapoleone, Milan
Prada - An Italian luxury fashion house, specializing in ready-to-wear leather and fashion accessories, shoes, luggage, perfumes, watches, etc., founded in 1913 by Mario Prada. The company was started in 1913 by Mario Prada and his brother Martino as a leather goods shop – Fratelli Prada (English: Prada Brothers) – in Milan, Italy. Mario Prada did not believe that women should have a role in business, and so he prevented female family members from entering into his company. Ironically, Mario's son harbored no interest in the business, so it was his daughter Luisa Prada who took the helm of Prada as his successor, and ran it for almost twenty years. Her own daughter, Miuccia Prada, joined the company in 1970, eventually taking over for her mother in 1978.
Prada is one of the fastest growing brand in terms of sale. They're sales are getting high rapidly every year. Prada's subsidiaries are Miu Miu, Church's, Carshoe, Pasticceria Marchesi, Luna Rossa, and Fondazione Prada. Interbrand estimates their brand value at $4.27 billion.
Burberry Store at Regent Street London
Burberry - a British luxury fashion house, distributing clothing, fashion accessories, fragrances, sunglasses, and cosmetics. Its distinctive tartan pattern has become one of its most widely copied trademarks. Burberry is most famous for its trench coat, which was designed by founder Thomas Burberry. Burberry was founded in 1856 when 21-year-old Thomas Burberry, a former draper's apprentice, opened his own store in Basingstoke, Hampshire, England. By 1870, the business had established itself by focusing on the development of outdoors attire. In 1880, Burberry introduced in his brand the gabardine, a hardwearing, water-resistant yet breathable fabric, in which the yarn is waterproofed before weaving. "Burberry" was the original name, but then the company soon switched to using the name "Burberrys", after many customers from around the world began calling it "Burberrys of London". This name is still visible on many older Burberry products. In 1891 Burberry opened a shop in the Haymarket, London.In recent years, Burberry has attempted to rebrand itself with advertisements in GQ, Esquire, Vogue, Tatler, and Harper's Bazaar, and is well known for using British celebrities in its advertising, including models Kate Moss, Agyness Deyn, Jourdan Dunn, and Lily Donaldson, singer George Craig, actress Emma Watson, who was named the face of Burberry's 2009 autumn/winter campaign and the cover model for the 2010 spring/summer campaign, and Rosie Huntington-Whiteley, who was unveiled as the face of Burberry's newest fragrance, Burberry Body, in July 2011. In June 2010, the Group launched its first cosmetics line, Burberry Beauty. Burberry has 3 sublabels such as: Burberry Prorsum, Burberry London, and Burberry Brit. The U.K. luxury goods company has a brand value of $4.34 billion.
Tiffany & Co. store at Sydney, Australia
Tiffany & Co. - an American multinational luxury jewelry and specialty retailer, having headquarters in New York City, United States. Tiffany sells jewelry, sterling silver, china, crystal, stationery, fragrances, watches, personal accessories, as well as some leather goods. Many of these goods are sold at Tiffany stores, as well as through direct-mail and corporate merchandising. Tiffany is renowned for its luxury goods and is particularly known for its diamond jewelry. Tiffany markets itself as an arbiter of taste and style. Founded by Charles Lewis Tiffany and John B. Young in New York City in 1837 as a "stationery and fancy goods emporium", the store initially sold a wide variety of stationery items, and operated as "Tiffany, Young and Ellis" in Lower Manhattan. The name was shortened to Tiffany & Company in 1853 when Charles Tiffany took control and established the firm's emphasis on jewelry. Tiffany & Company has since opened stores in major cities all over the world. Unlike other stores at the time in the 1830s, Tiffany clearly marked the prices on its goods to forestall any haggling over prices. In addition, against the social norm at the time, Tiffany only accepted cash payments, and did not accept payments on credit. The company's manufacturing facilities produce approximately 60% of the merchandise sold—the balance, including rose-gold and almost all non-jewelry items, are purchased overseas from third parties. Tiffany's oversees a significant U.S. manufacturing base, with jewelry and silver goods produced in Mount Vernon, New York; Cumberland, Rhode Island; and Lexington, Kentucky, while silver hollow-ware is produced in New Jersey. The company's other subsidiaries, located in facilities outside the U.S., process, cut and polish the diamonds. Its brand value is estimated at $5.16 billion.
Cartier store in Macau
Cartier - designs, manufactures, distributes and sells jewellery and watches. Founded in Paris, France in 1847 by Louis-François Cartier, the company remained under family control until 1964. The company maintains its headquarters in Paris and is now a wholly owned subsidiary of Compagnie Financière Richemont SA. Cartier is well known for its jewellery and wrist watches, including the "Bestiary" (best illustrated by the Panthère brooch of the 1940s created for Wallis Simpson), the diamond necklace created for Bhupinder Singh the Maharaja of Patiala and the first practical wristwatch, the "Santos," of 1904. Cartier has a long history of sales to royalty and celebrities. King Edward VII of England referred to Cartier as "the jeweller of kings and the king of jewellers." For his coronation in 1902, Edward VII ordered 27 tiaras and issued a royal warrant to Cartier in 1904. Similar warrants soon followed from the courts of Spain, Portugal, Russia, Siam, Greece, Serbia, Belgium, Romania, Egypt, Albania, Monaco, and the House of Orleans. Louis-François Cartier founded Cartier in Paris in 1847 when he took over the workshop of his master. In 1874, Louis-François' son Alfred Cartier took over the company, but it was Alfred's sons Louis, Pierre and Jacques, who were responsible for establishing the brand name worldwide.In 1972, a group of investors led by Joseph Kanoui bought Cartier Paris. President Robert Hocq, who created the phrase "Les Must de Cartier" (a staff member is said to have said "Cartier, It's a must!"meaning something one simply must have) with Alain Dominique Perrin, General Director, began introducing new products. In 1974 and 1976 respectively, the group repurchased Cartier London and Cartier New York. In 1979, the Cartier interests were combined, "Cartier Monde" uniting and controlling Cartier Paris, London and New York. Cartier's value about $5.5 billion.
Hermes store at Istanbul
Hermes - a French manufacturer established in 1837, today specializing in leather, lifestyle accessories, perfumery, luxury goods, and ready-to-wear. Its logo, since the 1950s, is of a Duc carriage with horse. The designers throughout the company's history have included Lola Prusac, Jacques Delahaye, Catherine de Karolyi, Monsieur Levaillant, Nicole de Vesian, Eric Bergère, Claude Brouet, Daniel Deakin, Alex Bartaska, Tan Giudicelli, Marc Audibet, Mariot Chane, Martin Margiela, Jean Paul Gaultier, Véronique Nichanian (current menswear designer), Christophe Lemaire (current womenswear designer). Born in Krefeld (Germany), Thierry Hermès was the son of a French man and a German woman. The family moved to France in 1828. In 1837, Thierry Hermès (1801–1878) first established Hermès as a harness workshop on the Grands Boulevards quarter of Paris, dedicated to serving European noblemen.[3][4] He created some of the finest wrought harnesses and bridles for the carriage trade. Monsieur Hermès's earned citations included the first prize in its class in 1855 and the first-class medal in 1867 at the Expositions Universelles in Paris. At 31 December 2010, the Hermès family collectively owned a 62.79% stake in Hermès International S.A. through a number of individual and company holdings; the stake entitled the family to 73.96% of voting rights in the company. The luxury goods company LVMH held 20.21% of shares (amassed in the latter half of 2010) and 13.08% of votes at the same date, with 0.39% of shares held as treasury stock and the remaining 16.61% free float. Speculation that LVMH will launch a takeover bid for Hermès has been repeatedly denied by its chairman Bernard Arnault. Some industry insiders are in doubt, such as René Weber, an analyst at Zürich's Bank Vontobel, who has claimed: "Arnault is not afraid of a fight and a lot of his battles have been successful for him and his shareholders. Whether he can eventually succeed with [a takeover of] Hermès is still an open question." Bertrand Puech, who chairs the main Hermès family holding company, has criticised LVMH's acquisition of Hermès shares and called on the company to reduce its stake by half. Interbrand puts their brand value at $6.18 billion.
Gucci Flagship store in Via Montenapoleone, Milan
Gucci - n Italian fashion and leather goods brand, part of the Gucci Group, which is owned by French company Kering formerly known as PPR. Gucci was founded by Guccio Gucci in Florence in 1921.[5] Gucci generated about € 4.2 billion in revenue worldwide in 2008 according to BusinessWeek magazine and climbed to 41st position in the magazine's annual 2009 "Top Global 100 Brands" chart created by Interbrand. Gucci is also the biggest-selling Italian brand. Gucci operates about 278 directly operated stores worldwide (as of September 2009) and it wholesales its products through franchisees and upscale department stores.With beginnings at the end of the 19th century, the Gucci company became one of the world’s most successful manufacturers of high-end leather goods, clothing, and other fashion products. As an immigrant in Paris and then London, working in exclusive hotels, young Guccio Gucci (1881–1953) was impressed with the luxurious luggage he saw urbane guests bring with them. before leaving he visited the manufacturer H.J. Cave & Sons. Upon returning to his birthplace of Florence, a city distinguished for high-quality materials and skilled artisans, he established a shop in 1920 that sold fine leather goods with classic styling. Although Gucci organized his workrooms for industrial methods of production, he maintained traditional aspects of fabrication. Initially, Gucci employed skilled workers in basic Florentine leather crafts, attentive to finishing. With expansion, machine stitching was a production method that supported construction. There were seventy-six Gucci stores around the world in 1997, along with numerous licensing agreements. Ford was instrumental in the process of decision-making with De Sole when the Gucci Group acquired Yves Saint Laurent Rive Gauche, Bottega Veneta, Boucheron, Sergio Rossi, and, in part-ownership with Stella McCartney, Alexander McQueen and Balenciaga. By 2001 Ford and De Sole shared the responsibility for major business decisions, while Ford concurrently directed design at Yves Saint Laurent as well as at Gucci. The French conglomerate Pinault-Printemps-Redoute, however, gained ownership of 60 percent of the Gucci Group’s stock in 2003. Women’s Wear Daily then announced the departure of both Domenico De Sole and Tom Ford from the Gucci Group when their contracts expired in April 2004. The last spring collection under the direction of Ford and De Sole was a critical and commercial success. Amid widespread speculation in the fashion press about Ford’s heir, the company announced in March 2004 that he would be replaced by a team of younger designers promoted from the ranks of the company’s staff. In 2005, Frida Giannini was appointed as the creative director for women’s ready-to-wear and accessories, previously joining Gucci in 2002. In 2006, she also became the creative director for men's ready-to-wear and the entire Gucci label. Brand value: $9.45 billion.
Louis Vuitton flagship Store at Champs-Elysees
Louis Vuitton - a French fashion house founded in 1854 by Louis Vuitton. The label's LV monogram appears on most of its products, ranging from luxury trunks and leather goods to ready-to-wear, shoes, watches, jewelry, accessories, sunglasses, and books. Louis Vuitton is one of the world's leading international fashion houses; it sells its products through standalone boutiques, lease departments in high-end department stores, and through the e-commerce section of its website. For six consecutive years (2006–2012), Louis Vuitton has been named the world's most valuable luxury brand. The Louis Vuitton label was founded by Vuitton in 1854 on Rue Neuve des Capucines in Paris, France. Louis Vuitton had observed that the HJ Cave Osilite[9] trunk could be easily stacked and in 1858, Vuitton introduced his flat-bottom trunks with trianon canvas, making them lightweight and airtight. Before the introduction of Vuitton's trunks, rounded-top trunks were used, generally to promote water run off, and thus could not be stacked. It was Vuitton's gray Trianon canvas flat trunk that allowed the ability to stack with ease for voyages. Many other luggagemakers imitated LV's style and design. The Louis Vuitton brand and the famous LV monogram are among the world's most valuable brands. According to a Millward Brown 2010 study, Louis Vuitton is the world's 29th most valuable brand, right after Gillette and before Wells Fargo. The brand itself is estimated to be worth over USD $19 billion. For the sixth consecutive year, Louis Vuitton still at number one of ten most powerful brand published by the Millward Brown Optimor's 2011 BrandZ study with value of $24.3 billion. It was more than double value from the second rank. The Louis Vuitton company carefully cultivates a celebrity following and has used famous models, musicians, and actors such as Keith Richards, Madonna, Jennifer Lopez, Sean Connery, Hayden Christensen, Angelina Jolie, and most recently David Bowie in its marketing campaigns. Breaking from their usual traditions of employing supermodels and celebrities to advertise their products, on 2 August 2007, the company announced that the former USSR leader Mikhail Gorbachev would appear in an ad campaign along with Steffi Graf, Selena Gomez, and Catherine Deneuve. Many rappers, most notably Kanye West, Juicy J and Wiz Khalifa have mentioned the company in certain songs. The company commonly uses print ads in magazines and billboards in cosmopolitan cities. Louis Vuitton Posters by Razzia were popular in the 1980s. It previously relied on selected press for its advertising campaigns (frequently involving prestigious stars like Steffi Graf, Andre Agassi, Gisele Bündchen and Catherine Deneuve) shot by Annie Leibovitz. However, Antoine Arnault, director of the communication department, has recently decided to enter the world of television and cinema: The commercial (90 seconds) is exploring the theme "Where will life take you?" and is translated into 13 different languages. This is the first Vuitton commercial ad ever and was directed by renowned French ad director Bruno Aveillan. The Brand Value: $23.58 billion.
Souces:
Wikipedia
Forbes
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