Louis Vuitton, headed up by designer Marc Jacobs, ranked 17th out of the 100 Best Global Brands beating Gucci (38), Hermès (63) and Cartier (68) as the number one brand in the luxury sector.
The annual report ranks worldwide companies in terms of their estimated total annual value. Coca-Cola came out tops as the Best Global Brand with an estimated worth of $77.839 million, followed by Apple, IBM and Google.
Coming second to Louis Vuitton, valued at $23.577 million, in the fashion stakes was high street retailer H&M. The brand was placed 23rd overall with an estimated worth of $16.571 million. Zara followed close on its fashionable heels in third place ranking 37th at $9.488 million.
"Despite the current economic landscape, all of the luxury brands in this year's report increased their brand value," read a summary of the study. "As the meaning of luxury shifts, this year's top luxury brands reflect a changing global consciousness – with success dependent not only upon a portfolio of superior products and superb quality of service, but also a strong cohesive brand, a formidable digital presence, and reputation that is timeless, elevated, and refined."
Louis Vuitton increased its brand value by 2% this year. According to the report, the luxury brand's success can be attributed to "consistently upholding its core values and remaining loyal to its travel-centric heritage". The company has also improved its digital presence, which included charting its history on Facebook and launching an app that enables customers to share travel experiences. Remaining committed to engaging new markets has made LV the top brand for the Chinese luxury consumer in 2012.
According to Interbrand, the trick for luxury brands is striking the right balance between "scale and desirability". The "progressive expansion" of Louis Vuitton could prove successful or detrimental to the brand's perceived authenticity and exclusivity.
View pictures from the Louis Vuitton spring/summer 2013 collection which showed today, 3 October, the final day of Paris Fashion Week.
Sources: http://www.interbrand.com, http://www.vogue.co.uk