MILAN — The high 10 Italian luxurious manufacturers had been capable of enhance their model goal index regardless of the pandemic.
According to the BrandZ 2021 Top 10 Most Valuable Italian Luxury Brands rating revealed in the present day by Kantar in regards to the nation’s high luxurious firms, the primary 10 companies noticed their model goal index enhance within the high-single-digit vary on common year-over-year.
The model goal index considers the guiding rules of every model’s mission and particularly these having a optimistic influence on folks and the planet. This displays in the present day’s shopper demand, more and more influenced by the social accountability and sustainability practices of the manufacturers they buy.
Italy’s most precious luxurious model is Gucci with a model worth of $33.8 billion and a model goal index of 114, up from 104 final yr. Incidentally, the Florence-based firm additionally took the highest spot within the BrandZ 2021 Top 30 Most Valuable Italian Brands rating revealed final month, which takes under consideration firms throughout completely different classes, as reported.
Prada, the second most precious model amongst vogue and luxurious gamers with a worth of just about $4 billion, boasts a model goal index of 105, up 5 models in comparison with a yr earlier.
Dolce & Gabbana, ranked tenth with a model worth of $498 million, is the corporate with the very best model goal index at 120, adopted by Armani at 117, whereas Valentino, ranked eighth in line with its model worth of just about $700 million, was the quickest rising in 2020 by way of its model goal index, which stands at 114, up 14 models versus a yr earlier. Other manufacturers within the rating embrace Fendi, Bulgari, Versace, Bottega Veneta and Salvatore Ferragamo.
The larger model goal indices of the ranked manufacturers indicators these firms’ elevated social and environmental practices, which enhance belief and attraction inside their shopper base.
“Over the past years, luxury has made an important step, telegraphing a value that is not only economic but cultural,” mentioned Shiva Mohammadian, model affiliate director at Kantar. “The opportunity for luxury companies is to implement all those initiatives that can prove how the brand is taking responsibility for important cultural values and that it is acting to improve the world we live in.”
Mohammadian acknowledged that manufacturers are required to outline their goal clearly and have interaction with their group to draw trendy customers, particularly younger ones.
According to a examine performed by Kantar in partnership with media firm Class Editori and launched in tandem with the rating, the procuring expertise is a key element that manufacturers can leverage to showcase their purpose-driven mission throughout each the on- and offline channels. However, the examine careworn that luxurious manufacturers’ clients are extra inclined to purchase in-store, with the common on-line penetration standing at 24 %.