NEW YORK — Ferragamo has been rated the most prestigious men’s luxury brand by high-net-worth males, according to the 2008 Luxury Brand Status Index survey revealed by the New York-based Luxury Institute Wednesday.
“Wealthy male customers look for maximum prestige, functionality and value, and Ferragamo delivered in 2008,” said Milton Pedraza, CEO of the Luxury Institute, in a statement. “One key insight from our survey is that brands that are specialists in one category tend to outperform jack-of-all-trade brands. It is also clear that when it comes to men’s luxury shoes, Italy dominates the category with nine of the top 10 brands, although they are rated differently across metrics, and consumers have different reasons for recommending or not recommending each brand.”
The institute’s survey was answered by 821 American male consumers with an average income of $348,000 and an average net worth of $3.6 million. Respondents to the survey ranked Tod’s and Prada as second and third, respectively.
According to Wednesday’s release, the institute identified 17 luxury men’s shoe brands, which also included Bally, Bruno Magli and Gucci.