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Kantar BrandZ 2021 Ranking: 8 of the 10 most valuable brands in the world are in Peru

With the opening of its first store in the Jockey Plaza, Louis Vuitton joins the list of the eight most valuable brands in the world present in the Peruvian market that appear in the latest Kantar BrandZ 2021 ranking.

Likewise, Chanel, Gucci, Rolex, Dior, Cartier, Yves Saint Laurent and Burberry are also in the country and continue this top 10, respectively.

Olivia Hernández, client management director of Kantar Brand, explained that Hermés and Prada also appear in its recent global ranking; however, they are the only two brands that have not yet reached the Peruvian market.

Kantar Brand, a consulting firm dedicated to market research, publishes each year a list of the most valuable brands globally in various areas. In the case of luxury items and clothing, there are these famous European brands.

“Peru has been an attractive country for luxury brands due to the economic growth of recent years. Peruvians are intelligent consumers, willing to pay more as long as brands are able to offer a proposal that generates value added, and these brands know how to do it very well, “said Hernández.

Likewise, he explained that although these luxurious fashion and article firms are already in PeruThey do not necessarily have their own boutique. On the contrary, they decided to bet on outsourcing or alliances with other companies that offer them a space in their store and be able to market their products.

The brand Burberry, for example, it only offers fragrances in the Peruvian market, but actually in the international market it also sells clothing and footwear.

“This tells us that we are in a growth process and that we expect future consolidation. Also, all those brands have different categories, from handbags, fragrances, cosmetics, clothing. It is important to see that, at least in Peru, not necessarily those brands are having their complete offer ”, he commented.

Kantar BrandZ 2021

Kantar BrandZ is the world currency when it comes to evaluating brand equity and quantifying its contribution to the financial results of companies. Every year they produce a global ranking of the 100 most valuable brands in the world, including various categories, and on the main ones they prepare the Top 10 for each of them.

This is how thanks to its recent study it is shown that the value of the brand Louis Vuitton It has allowed it to maintain leadership in its field, as well as being the brand that rose the fastest in the luxury category, with a growth of 46% and a brand value of US $ 75.73 billion in relation to the previous year.

Chanel, Hermés, Gucci and other internationally renowned brands have held their positions for at least the last three years. Likewise, in general, all these firms reported a growth in their brand value of 29% from 2018 to 2019. By 2020 the figure only grew 3% due to the pandemic; however, this year they exceeded the previous figures, reaching 34%.

“Exclusivity” no longer defines them

And it is not only the exclusivity that attracts the customers of these luxury brands, it is also the heritage they have created over the years. Thus, these stores have specific designs that are their personal hallmark, adding to this the innovation of the new generations betting on the famous term of “Sustainability”, a trend that is being seen globally and Peru is no exception.

Various initiatives motivated by the pandemic such as sustainable transformation and support for social movements such as Black Lives Matter were the factors that generated the increase in the values ​​of luxury brands, a strong construction of their corporate reputation.

In the case of Louis Vuitton, the brand maintains a solid relationship with its consumers around the world and continues to be the most culturally relevant luxury brand, being increasingly innovative, betting on collaborations with celebrities and their growing presence in the e-commerce.

But it is not only Louis Vuitton, various luxury brands have found other ways to connect with younger people, making use of the platforms that are on the rise such as Tik Tok, Instagram or even doing partnership with gaming and e-sport themes, managing to generate a greater bond with consumers.

The growth of these brands is mainly in Asia and Europe; on the contrary, Latin America is still growing, despite the fact that Mexico and Brazil lead in this region.

Luxury brands, like any company, had to adapt to a new market that originated due to the pandemic of the COVID-19. In Peru, customers are already observing these brands with more interest and, in turn, they are betting on the Peruvian market, even if it is, in some cases, through alliances with other stores.

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