31 Jul '13, 3pm
Louis Vuitton tops 2013 global luxury brand list
PARIS (AFP) - Louis Vuitton, Hermes and Gucci were the top three global luxury brands of 2013, with Fendi and Coach entering the top 10 for the first time, a study said on Wednesday. The 2013 BrandZ Top 100, a ranking of the most valuable global brands compiled by research firm MillwardBrown, found luxury firms struggling with the need to balance exclusivity with attracting new customers through use of social media. "On Facebook, Instagram, Pinterest and other social media platforms, brands across the luxury spectrum mediated the tension between the exclusivity that protects brand desirability and the inclusivity needed to attract new customers," it said. The survey said luxury brands had become more "accessible, collaborative and experimental".