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To the surprise of many, the luxury goods sector has remained resilient this past year in the face of everything 2023 has to offer. During this period of uncertainty, many top brands are reporting declines in revenue and more related to a variety of factors. One of these is the decline in engagement across multi-brand online shopping portals in the consumer purchase journey, particularly impacting the brands with which they are most dependent. wholesale. Price strategies are under pressure, despite currency fluctuations and consumer caution.
Despite all these difficulties, bright spots still exist. Brands such as Gucci, Miu Miu and Ferragamo are all benefiting from increased purchase intent due to pent-up demand. Investment products continue to garner the most attention, with handbags being the most purchased item, and luxury consumers in China, Japan and South Korea appear to be less daunted by rising prices than their global counterparts. .
in vogue business‘s 2023/24 Winter Index shows that the gap between the industry’s top three companies and the rest of the luxury lineup continues to widen, reducing the likelihood of disruption to these major brands across the index going forward. Gucci has overtaken Dior and returned to second place for the first time since winter 2021, regaining the number one brand position across omnichannel and ESG. In the previous Index, these pillars were led by Burberry and Bottega Veneta, respectively. Meanwhile, Prada moved up three places and Balenciaga once again entered the top ten.
1.Louis Vuitton
LVMH
Rank change: 0
Louis Vuitton maintains its stronghold at the top of the world vogue business Indexed 4 times in a row. Despite being the leader in just one pillar, Gucci and Dior are catching up, as the brand’s Spring/Summer edition has recorded stellar financial results and has consistently performed well in all other pillars. I’m having a hard time with it.
2. Gucci
kering
Rank change: +1
Despite weak sales last October, Gucci returned to second place in the rankings. vogue business For the first time since winter 2021, the brand regains the top spot in omnichannel and ESG, while the appointment of Sabato de Sarno as creative director begins to bear fruit in the digital pillar, with Gucci becoming the top performer. became the brand. vogue runway.
3. Dior
LVMH
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