Louis Vuitton was recently ranked the No. 1 luxury brand in the Millward Brown BrandZ ranking of the Top 100 Most Powerful Brands, a list that covers 50,000 brands worldwide according to Forbes.
So what's their brand secret? Well for one, they are revolutionary. Consider their newest endorser - Keith Richards of the Rolling Stones. He's not the typical celebrity endorser and they know it. But why pick him? They want trend-setters and jet-setters. People who will pay the extra grand to get the best in luxury.
The economy is already unstable as it is, why settle for the girl/ boy next door who might not even have enough money to spare? Louis Vuitton is going for class A, retirement age individuals who have money to burn.
Bold moves like this keep Louis Vuitton ahead of the pack currently with a brand value of $25.74 million. Sometimes it's just amazing how they started as a steamer trunks and luggage retailer in 1854 and eventually evolved into the marquee brand they are today.
No comments:
Post a Comment