Thursday, February 28, 2008
Gucci reigns as the world's most coveted luxury brand
Inside Retailing Online
A new global luxury brands survey conducted by The Nielsen Company reveals the world's most coveted luxury brands and finds that Gucci, the flagship brand of French luxury group PPR, is number one. One in five global consumers said they would choose to buy Gucci (over any other luxury brand) if money was no option, making the Italian fashion brand that was revived by Tom Ford in the 1990s the most coveted and aspirational luxury brand in the world today.
Chanel and Calvin Klein tied for second place in Nielsen’s 48-country online survey that was conducted in November 2007. In fourth place came Louis Vuitton, followed by Giorgio Armani, Christian Dior and Versace. Two years ago in the same survey, Gucci shared top honours in the survey with Giorgio Armani, which has since slipped to fourth place in current global rankings.
“It’s an incredible achievement for Gucci to remain at the top of the most coveted league table for luxury brands,” said Patrick Dodd, president Europe, The Nielsen Company. “In the past two years, Gucci has managed to maintain and even increase its brand equity in a very competitive and fickle industry. They have achieved this by consistently embedding their core brand values in all their branded products, which range from perfume and sunglasses to accessories, jewellery, handbags and ready-to-wear fashion,” noted Dodd.
While on a global ranking Gucci dominated overall, regional luxury brand preferences prevailed, reflecting fashion and lifestyle differences across the globe. Among the world’s most aspirational brands - if money was no object - two in five Chinese consumers would choose Chanel and 38 % of Russians would choose Christian Dior. One in three Russian consumers also said they would spend their money at Versace and Prada. Two in five Hong Kongers and Filipinos would choose Louis Vuitton while Giorgio Armani, Calvin Klein and Yves St Laurent are top picks for Latam consumers. 25% of Japanese consumers would buy Hermes if money was no object.
As a global region North America was the least interested in luxury brands, with 35% of consumers saying that they would “not buy any” luxury brands even if money was no object. Dutch consumers (43%) and Norwegians (37%) topped global rankings for not buying any luxury brands if money was no object. According to the Nielsen report, one in four global consumers said they currently buy designer brands. Currently, 31% of consumers in UAE and Hong Kong say they buy Gucci-branded products. The small nations of UAE and Hong Kong are the two most famous shopping meccas on earth and it’s no surprise that their shopaholic, image-conscious citizens are among the biggest fans of luxury goods today. Their geographical location also means they benefit directly from “shopping tourism” - Dubai attracts the wealthy shopping elite from neighboring Saudi Arabia and Hong Kong attracts the new wealth from China.
“Shopping is a way of life in these countries and luxury brands are an essential part of the population’s wardrobe, even if it comes in the form of a key chain,” said Dodd.
Consumers in Hong Kong are currently the most likely to buy Gucci, Burberry and Louis Vuitton more than any other country. UAE consumers topped global rankings for currently buying Christian Dior, Versace, YSL, Givenchy and Calvin Klein.
“The appeal of the luxury designer brand continues to grow - a luxury brand is simply something that consumers, especially those in emerging markets, are willing to pay a significant premium for”, said Dodd.
According to the Nielsen survey, 25 % of global consumers said designer brands are of significantly higher quality than standard products and 60 % said that people wear designer brands to project social status. While quality is certainly a key factor for buying luxury brands - it’s not enough. A luxury brand needs to sell its core brand values within its image; the “image” that is reflected in this design and lifestyle is what consumers are prepared to pay a premium to buy into. Calvin Klein, Ralph Lauren and Diesel top rankings for designer brands currently bought by global consumers. These brands are the most accessible and affordable to first-time luxury brand consumers. From perfume to underwear and a basic t-shirt, these brands offer a “designer” cache at a fraction of the price.
These brands also understand “it’s important to embed the brand values in smaller items to initially attract the consumer,” said Dodd, “because when the consumer has more disposable income, they will upgrade within the same brand to more expensive items.”
Interestingly, 23% of global consumers said they would shun international luxury brands in favour of buying a “local designer” from their country. The survey also indicated strong support for luxury brand names from local consumers. Italians topped global rankings for buying their own brands such as Prada and Max Mara. According to the Nielsen survey, 35% of global consumers said they would buy a mobile phone if it was co-branded with a luxury brand - a sector that fashion giants such as Prada and Armani have already taken advantage of. One in three global consumers said they would buy a co-branded luxury designer laptop, and one in four said they would buy a “designer” flat screen TV. One in six global consumers even said they would like to buy designer branded MP3’s and kitchen appliances.
“There seems to be huge market potential for luxury brands to evade every corner of the home and office,” said Dodd.
A new global luxury brands survey conducted by The Nielsen Company reveals the world's most coveted luxury brands and finds that Gucci, the flagship brand of French luxury group PPR, is number one. One in five global consumers said they would choose to buy Gucci (over any other luxury brand) if money was no option, making the Italian fashion brand that was revived by Tom Ford in the 1990s the most coveted and aspirational luxury brand in the world today.
Chanel and Calvin Klein tied for second place in Nielsen’s 48-country online survey that was conducted in November 2007. In fourth place came Louis Vuitton, followed by Giorgio Armani, Christian Dior and Versace. Two years ago in the same survey, Gucci shared top honours in the survey with Giorgio Armani, which has since slipped to fourth place in current global rankings.
“It’s an incredible achievement for Gucci to remain at the top of the most coveted league table for luxury brands,” said Patrick Dodd, president Europe, The Nielsen Company. “In the past two years, Gucci has managed to maintain and even increase its brand equity in a very competitive and fickle industry. They have achieved this by consistently embedding their core brand values in all their branded products, which range from perfume and sunglasses to accessories, jewellery, handbags and ready-to-wear fashion,” noted Dodd.
While on a global ranking Gucci dominated overall, regional luxury brand preferences prevailed, reflecting fashion and lifestyle differences across the globe. Among the world’s most aspirational brands - if money was no object - two in five Chinese consumers would choose Chanel and 38 % of Russians would choose Christian Dior. One in three Russian consumers also said they would spend their money at Versace and Prada. Two in five Hong Kongers and Filipinos would choose Louis Vuitton while Giorgio Armani, Calvin Klein and Yves St Laurent are top picks for Latam consumers. 25% of Japanese consumers would buy Hermes if money was no object.
As a global region North America was the least interested in luxury brands, with 35% of consumers saying that they would “not buy any” luxury brands even if money was no object. Dutch consumers (43%) and Norwegians (37%) topped global rankings for not buying any luxury brands if money was no object. According to the Nielsen report, one in four global consumers said they currently buy designer brands. Currently, 31% of consumers in UAE and Hong Kong say they buy Gucci-branded products. The small nations of UAE and Hong Kong are the two most famous shopping meccas on earth and it’s no surprise that their shopaholic, image-conscious citizens are among the biggest fans of luxury goods today. Their geographical location also means they benefit directly from “shopping tourism” - Dubai attracts the wealthy shopping elite from neighboring Saudi Arabia and Hong Kong attracts the new wealth from China.
“Shopping is a way of life in these countries and luxury brands are an essential part of the population’s wardrobe, even if it comes in the form of a key chain,” said Dodd.
Consumers in Hong Kong are currently the most likely to buy Gucci, Burberry and Louis Vuitton more than any other country. UAE consumers topped global rankings for currently buying Christian Dior, Versace, YSL, Givenchy and Calvin Klein.
“The appeal of the luxury designer brand continues to grow - a luxury brand is simply something that consumers, especially those in emerging markets, are willing to pay a significant premium for”, said Dodd.
According to the Nielsen survey, 25 % of global consumers said designer brands are of significantly higher quality than standard products and 60 % said that people wear designer brands to project social status. While quality is certainly a key factor for buying luxury brands - it’s not enough. A luxury brand needs to sell its core brand values within its image; the “image” that is reflected in this design and lifestyle is what consumers are prepared to pay a premium to buy into. Calvin Klein, Ralph Lauren and Diesel top rankings for designer brands currently bought by global consumers. These brands are the most accessible and affordable to first-time luxury brand consumers. From perfume to underwear and a basic t-shirt, these brands offer a “designer” cache at a fraction of the price.
These brands also understand “it’s important to embed the brand values in smaller items to initially attract the consumer,” said Dodd, “because when the consumer has more disposable income, they will upgrade within the same brand to more expensive items.”
Interestingly, 23% of global consumers said they would shun international luxury brands in favour of buying a “local designer” from their country. The survey also indicated strong support for luxury brand names from local consumers. Italians topped global rankings for buying their own brands such as Prada and Max Mara. According to the Nielsen survey, 35% of global consumers said they would buy a mobile phone if it was co-branded with a luxury brand - a sector that fashion giants such as Prada and Armani have already taken advantage of. One in three global consumers said they would buy a co-branded luxury designer laptop, and one in four said they would buy a “designer” flat screen TV. One in six global consumers even said they would like to buy designer branded MP3’s and kitchen appliances.
“There seems to be huge market potential for luxury brands to evade every corner of the home and office,” said Dodd.
Labels: authentic designer handbags, gucci handbags, luxury handbags and accessories
# posted by Liz Wood @ 6:33 AM
Tuesday, November 13, 2007
The Family Feud over the Gucci Handbags
from factory outlet handbags
The Italian fashion design house of Gucci began in Florence, Italy in 1921 by a man named Guccio Gucci. When he opened his small, family owned leather and saddle goods store, he had no idea that the Gucci handbag would grow to become one of the best known symbols for wealth and luxury.
Italian Fashion History in the Making
In its initial phase, Gucci's work was known for its quality and craftsmanship. He hired skilled craftsmen to work with him and together they build a successful leather goods company. It was in 1938 that they opened a boutique in Rome and the business kept growing. Gucci, himself, was the designer for most of their products and in 1947 he introduced the bamboo handled Gucci handbag that is has become a company icon. In addition to the Gucci handbag, the company is well known for its family arguments, disputes and differences of opinion when it comes to company operations. The family conflicts over inheritances, stock holdings, business operations and other family issues have often threatened the overall success of the familyowned business.
The Height of Success
Even with the family disputes threatening the company's success, in the 1960's the Gucci logo GG, which were Guccio Gucci's initials, was supported by many famous women, such as Grace Kelly and Jackie Kennedy, the wife of the United States President, John F. Kennedy. This support increased the popularity of the Gucci handbag and other Gucci products.The company remained at the top of the design house establishments until the late 1970's when the family quarrels again threatened the company's survival. Soon the family members divided departments of the company between them and began to work independent of one another. Through mismanagement and disastrous business practices, the company declined in popularity and respect within the fashion industry in the 1980's. It was during this time that they also became the highest produced knockoffs on the counterfeit market. This fact caused even further decline in the high fashion industry.
The Turning Point for the Gucci Handbag
In the 1980's the company again experienced turmoil, confusion and reorganization. It was this reorganizing the saved the company and elevated it back to it's earlier standings in the fashion industry. Through the work of Tom Ford, a young fashion designer, Gucci was returned to a respectable high fashion design house. Today, the Gucci handbag is still a sought after status symbol. The company might never reach the same status it held in the 1960's but it still enjoys a popular standing in the world of wealth, celebrity and high fashion.
Labels: authentic designer handbags, authentic gucci, brandsboutique, discount gucci online, discount gucci purses, efashionhouse, gucci handbags, gucci online
# posted by Give Me Something to Blog About @ 8:50 AM
