-- Men's Fashion
- Ermenegildo Zegna - 7.89
- Canali - 7.81
- Armani - 7.59
-- Women's Fashion
- Hermes - 7.92
- Balenciaga - 7.84
- Prada - 7.78
"Repeatedly in 2009 we have found that brands perceived to deliver the best
combined luxury value are rated higher. Luxury brands perceived as
overpriced or not exclusive enough, or that deliver great products but
sub-par customer experiences, have been rated lower this year. Wealthy
consumers understand they have the power now, and they are voting with
their dollars," says Milton Pedraza,
CEO of the Luxury Institute. "In the 21st century, luxury brands will
still validate consumers, but luxury consumers will, in turn, validate
luxury brands. That is a marked departure from the 'good-old-days' of
luxury of 2007. The new rules of luxury are being written, and this time it
is high net-worth consumers, not brands or pundits, who are writing them.
"Here are some examples: Luxury brands that are snobby and arrogant are
out; welcoming and nurturing brands are in vogue. It used to be that luxury
brands could impose high prices; now they have to earn them. It used to be
that consumers had to adapt to the arcane and inconvenient business
processes that luxury brands chose for them; now luxury business processes
will adapt to customers. Customer dialogue and metrics used to be feared
and ridiculed by luxury executives. Now every luxury brand that wants to
survive this crisis will embrace customer dialogue and metrics, and take
positive action from continuous consumer feedback. There will be lots of
laggards, but by 2012 any major luxury brand that fails to adopt the new
rules of the 21st century luxury enterprise will disappear, or evolve into
a tiny museum version of itself. It may take new leadership for the luxury
revolution to take place, but it will happen."
The proprietary Luxury Brand
Status Index (LBSI) survey is the only unbiased measure of the stature
of leading brands among wealthy Americans. For the Women's Fashion survey,
a national sample of 818 wealthy American female consumers, with an average
income of $353,000 and average net worth of $2.6 million, was surveyed
online. For the Men's Fashion survey, a national sample of 608 wealthy
American men with an average income of $346,000 and average net worth of
$3.8 million, was surveyed online. Survey results are weighted to match
demographic and net-worth profiles of the same audience according to the
latest Survey of Consumer Finances from The Federal Reserve.
About the Luxury Institute (www.LuxuryInstitute.com)
The Luxury Institute is the
uniquely independent and impartial ratings and research institution that is
the trusted and respected voice of the high net-worth consumer. The
Institute provides a portfolio of proprietary publications and research and
consulting services that guides and educates high net-worth individuals and
the companies that cater to them on leading edge trends, high net-worth
consumer rankings and ratings of luxury brands, and best practices. The
Luxury Institute also operates the LuxuryBoard.com (www.LuxuryBoard.com),
the world's first global, membership-based online community for luxury
goods and services executives, professionals and entrepreneurs.
Contact Information: For Further Information, Please Contact: Evins Communications, Ltd. Dotty J. Giordano Director Enid Lewin Vice President Phone: (212) 688-8200 E-mail: dotty.giordano@evins.com E-mail: enid.lewin@evins.com The Luxury Institute, LLC Martin Swanson Business Development Phone: (914) 909-6350 E-mail: mswanson@luxuryinstitute.com