Millward Brown Optimor released its annual report on the 100 most valuable brands in the world. In the list of top ten luxury brands, Chanel ranked as number four. The report noted: “Brands that protected their exclusivity – such as Chanel, Hermès, or Cartier – were better insulated from the recession than more accessible luxury brands.”
Fashionista interviewed Millward Brown vice president, Pierre Dupreelle, and his colleague Daniella Segal and this is what they had to say about Chanel:
This year’s ranking: 4
Last year’s ranking: 4
Overall Brand Value: Up 23% to $6.823 billion
Dupreelle thought this was one of the most interesting stories of the year. After an 11% decrease in value last year, Chanel came roaring back. While they were one of the last online hold-outs, when Chanel did take it digital they set the bar high for luxury brands in the future. They are very careful about how they sell (you won’t find a Chanel bag online), and have managed to keep the exclusivity of the brand intact while having a strong digital platform.
The report also noted that customers felt like they were buying into the exclusivity of the brand by purchasing aspirational products such as lipstick or sunglasses – I told you so! Though the luxury market grew 19% it still has not yet achieved pre-recession levels – though it is getting close.