Hugo Boss failed to make it to the Interbrand's 17th 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 34th position from its 41st 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 53rd position from 50th position, while Cartier went on to be 62nd on the list from 57th. Prada lost 12 positions on the ranking and went from being 69th in 2015 to 81st in 2016.
Tiffany & Co., which was at the 66th position in 2015, now takes up the 74th place on the list. Burberry bagged the 83rd position and Ralph Lauren acquired the 98th 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
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