Gucci has been named as the fastest-growing luxury brand in Interbrand’s Best Global Brands 2019 ranking, coming in at number 33 and growing 23 percent in value.
Amazon took the number three spot behind Apple and Google, growing 24 percent. Luxury brands Gucci, Louis Vuitton and Chanel, which increased its brand value by 11 percent, were highlighted as the most significant on the list of 200 companies across the luxury goods, technology, beverages, restaurants, and automotive sectors.
Rebecca Robins, Global Luxury Lead at Interbrand, said, “Gucci leapt ahead of the customer expectation curve with a maximalist creative vision and its irresistible reinvention of iconic products.
“They’re at the very edges of ‘the now and the next’ with everything they do, even experimenting with digital games and game-ification. Relevance is one thing. Maintaining it is another. By tapping into concepts of fluidity for Gen Z, and by incorporating a ‘Millennial shadow committee’ into its direction planning, Gucci has put young people at the very heart of its business […] got its cool back and is the fastest-growing luxury brand on our list.”
The report is significant in highlighting the importance luxury brands have had in consumerism over the past two decades, with Charles Trevail, Global Chief Executive officer at Interbrand, stating, “The fastest-growing brands are making what we call ‘iconic moves’ — the big bets that transform the way customers interact with brands.”
A large number of luxury brands made the list, including Burberry, Louis Vuitton, Prada and Dior.
Mass market beauty brands also featured, such as Gillette, Colgate-Palmolive and Johnson & Johnson, however, they failed to match the brand value growth of their luxury peers. Gillette came in at number 18, losing 18 percent, while Johnson & Johnson’s value fell 8 percent with the company sitting at number 86.