Gucci has secured the top position in the BrandZ 2019 Top 30 Most Valuable Italian Brands list.
Prada, Giorgio Armani, Fendi, Bottega Veneta, Salvatore Ferragamo and Bulgari also made the list, signaling the relevance of Made in Italy luxury players on a global scale. The seven luxury brands accounted for 40 percent of the total $96.9 billion value generated by the 30 labels on the list.
Compiled annually for the past 13 years by London-based advertising and public relations agency WPP through its data management subsidiary Kantar, the list highlights the most valuable brands for a range of countries including the U.S., France, Spain, the U.K., Australia and Saudi Arabia, among others. A Top 100 Most Valuable Global Brands list is also issued each year but it has yet to be released.
Gucci generated a value worth $24.4 billion in 2018, according to the report, up 50 percent compared to the previous year. Despite dropping by 5 percent compared to the 2018 list, Prada is the second most-valuable brand among the fashion and luxury players with a $3.8 billion value, which secured the house the sixth position on the list, behind automotive company Ferrari. Armani is worth $2.5 billion, up 5 percent compared to the previous year, while Fendi registered a double-digit increase to $1.8 billion, up 22 percent. They are ranked 10th and 13th, respectively, followed by Bottega Veneta, 16th with a brand value of $1.7 billion; Salvatore Ferragamo, 19th valued at $1.4 billion, and Bulgari, 25th, generating a brand value of $1 billion.
The report underscores that Italy’s luxury labels included in the survey are perceived as “sexy, revolutionary, rebellious, playful and funny.” Exports at each company accounted for 90 percent of sales last year, signaling that a presence on international markets increases a brand’s opportunity to build on its name.
“Going beyond the borders of a brand’s relevant market requires ambition and guts and Italy’s leading labels distinguish themselves from those of other countries for resilience and innovation and for being able to offer an extraordinary consumer experience,” noted David Roth, chief executive officer EMEA and Asia of WPP’s The Store global retail division.
The Italian list is compiled by combining financial analysis of each label for the most recent fiscal year, with surveys distributed to over 60,000 Italian consumers. On a global scale, the lists are based on the opinions of more than 3.6 million consumers.
Overall, the report highlighted that the 30 Italian companies have increased their brands’ total values by 14 percent in the last 12 months; in addition to luxury brands, the ranking includes companies from the food, automotive, energy and telecommunication industries. “In our list there are a lot of ‘industry heroes,’ [such as] companies that represent a typically Italian business model, which is gaining extraordinary results on a global scale. The analysis reveals a group of agile and interconnected companies, led by a strong entrepreneurial spirit, [and they are] setting the growth and innovation pace for their respective businesses,” commented Massimo Costa, WPP Italy’s country manager.
This story was reported by WWD and originally appeared on WWD.com.