It comes as no surprise that our beloved fashion powerhouses continue to dominate the fashion scene. In the Summer 2022 Vogue Business Index, which ranks the top 60 luxury fashion brands, the crème de la crème includes Louis Vuitton, Dior, Gucci, Chanel, Ralph Lauren, and Hermès, in that spectacular order. This ranking takes into account six key pillars: digital presence, ESG (environmental, social, and governance), omnichannel excellence, innovation, consumer sentiment, and financial performance. Interestingly, financial considerations have made a comeback in this report, which was absent in the previous December 2021 edition. 📈💃
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👜🥇 Reigning Supreme: Louis Vuitton Louis Vuitton reclaimed its throne as the numero uno luxury brand for this period, boasting the highest global sales figures and leaping up from the third position. It nudged aside its own sibling, Dior, which now sits comfortably in the second spot. Dior's prowess in the digital realm continues to drive its success.
💼🌐 Chanel's Remarkable Ascent Chanel, on the other hand, orchestrated a dazzling leap of six spots to secure the fourth position, showcasing its robust financial performance. In 2021, Chanel's revenues soared by nearly 50% (a jaw-dropping 49.6% to be precise), and its operating profit skyrocketed by 170.6%. It's safe to say that the nearly doubled sales of Chanel's classic flap handbags played a significant role, even in the face of pandemic-related economic challenges and restrictions. As a testament to the rich getting richer, the Wertheimer brothers, Alain and Gerard, the primary shareholders of Chanel, pocketed a staggering $5 billion in shareholder distributions.
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👛💰 Wealth Beyond Measure Explore more: Chanel Owners Receive a Whopping $5 Billion in Dividends Amidst a Luxury Boom Chanel's Financial Success - Read the Press Release And don't miss PurseBop's latest Chanel revelation: "Yes, Please, I'll Take a Classic Flap from 22A."
🧡💼 Hermès Ascends with Grace Hermès also saw a two-spot rise in its ranking on the Vogue Business Index, with speculations that financial metrics played a pivotal role in this ascension. The report also highlights that consumers regard Hermès as the pinnacle of customer service and in-store luxury experiences.
Do you concur with this exquisite ranking? Let us know your thoughts. 💭👠👜