Louis Vuitton Retains its Position at the top as the Most Valuable Luxury Brand
The year gone by has been a good year for the fashion and luxury industry. Practically all the major global brands recorded healthy growth and have sustained the momentum this year. But there have been subtle changes in the consumer behavior and his attitude. America and Europe disapprove of conspicuous consumption. Flaunting is not considered cool anymore. There is a growing concern about the origin of a product. The awareness about the impact of a luxury product on the environment has increased. The focus is more on craftsmanship. The appreciation for the skills involved in the creation of a product is much higher today. Anything mass produced becomes cheap. The world today is flooded with mass produced goods. Bespoke attention to individuality has become the ultimate luxury. The 2011 Brand Report released by the global research agency Millward Brown reveals some encouraging trend. Apparel industry increased its sales by 10%. The luxury industry was even...