Fashion brands beaten by tech firms in ranking list

Hugo Boss failed to make it to the Interbrand's 17^th annual list of the 100 most prestigious brands in the world, while Dior is the new entrant. The latter is listed at number 89. Hermès Paris rose to the 34^th position from its 41^st place in 2015.

“With Dior as a new entrant in 2016, and Hermès (+17 per cent) as the Top Growing Brand in the sector, luxury is one of the top growing sectors. Despite some declines, luxury businesses continue to work through an industry-wide reset and evolve their growth strategies,” says the 'Anatomy of Growth' report by Interbrand.

The list noted a fall in the ranking of multiple fashion brands compared to last year's rankings. Gucci fell down to the 53^rd position from 50^th position, while Cartier went on to be 62^nd on the list from 57^th. Prada lost 12 positions on the ranking and went from being 69^th in 2015 to 81^st in 2016.

Tiffany & Co., which was at the 66^th position in 2015, now takes up the 74^th place on the list. Burberry bagged the 83^rd position and Ralph Lauren acquired the 98^th position, both brands recording a loss of 10 and 7 positions, respectively.

While formulating the list, Interbrand takes into consideration the financial performance of brands' products and services, their roles in influencing customer choice and the strength of each brand to command a premium price or secure earnings for the company. (KD)

Fibre2Fashion News Desk – India