Hermes, Brioni & Versace Rank Highest in Prestige: Luxury Institute


hermes brioni versace rank highest in prestige luxury institute 2

hermes brioni versace rank highest in prestige luxury institute 3

Hermes, Brioni and Versace rank highest in reputation and
prestige, a survey by the Luxury Institute
has found. French luxury house Hermés scored the top ranking in the
women’s category among five luxury retailers in the survey of wealthy shoppers.
In the men’s fashion sector, Brioni earned the top ranking in the survey, while
Versace was the top brand in the women’s footwear category.

‘One key finding is that the classic brands have remained
strong,’ said Milton Pedraza, CEO of the Luxury Institute. ‘You can see that
these brands are not only classic luxury brands, but large. With size, you can
survive and thrive during a recession. What I would emphasize is that the
biggest and best got stronger during the recession.’

The Luxury Institute, a New York-based ratings and research think-tank, invited
respondents to rank luxury brands on the worthiness of a significant price
premium, their willingness to recommend it to friends and family and the
likelihood of consideration the next time they make a purchase.

Mr. Pedraza said luxury brands should focus on creating and
maintaining a pool of loyal clients, especially young affluent consumers. ‘That
is the Achilles’ heel of many brands,’ Mr. Pedraza said. ‘Luxury brands need to
make sure the up-and-coming tiers of younger consumers become loyal clients in
the future,’ he said.

Via [Luxury Daily]


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