Here are the top 10 luxury brands of the year 2020

The global economy has faced a severe hit since the onset of the Coronavirus pandemic.

The global economy has faced a severe hit since the onset of the Coronavirus pandemic. The outbreak of the infection has affected businesses across the world. With the change in the demand and supply patterns, the logistic of purchasing have also changed. People have been moving to online shopping instead of going to stores and that has helped business houses sustain themselves.

This change in strategy has been adopted by masses across the world and especially the Luxury brands who have shifted their sales focus to online platforms. Here is a list of luxury brands who have managed to maintain their position amongst the top 10 brands in the world, for the year 2020:

1. Louis Vuitton

The French fashion house and luxury retail company stands first in the list of luxury brands. Founded by Louis Vuitton in the year 1854, Louis Vuitton Malletier has maintained its position with a brand value of $51,777 million, as recorded so far in the year 2020. The brand is known for its range of products from luxury trunks to ready to wear watches, shoes, etc. to its iconic bags.

2. Chanel

The women’s high fashion french company specializes in couture, accessories and its perfumes. The fashion house was founded by Coco Chanel in the year 1910, in Paris, France. The company’s current brand value stands at $36,120 million, thus taking the second spot in the list.

3. Hermes

The French luxury fashion house was established in the year 1837. The company specialized in manufacturing leather, lifestyle accessories, perfumes, watches, etc. The women’s high fashion house has a brand value of $33,008 million as of 2020.

4. Gucci

The Italian luxury fashion brand has been the source of some of the most iconic trends in the fashion industry. Gucci was founded in the year 1921 in Florence, Tuscany. The brand is famous for its couture and accessories, especially the bags. Founded by Guccio Gucci, the company recorded a brand value of $27,238 million.

5. Rolex

The Geneva based Swiss watch manufacturer has always been leading the luxury watch industry. Founded in the year 1905, Rolex was ranked as the 71st most valuable brand in the world by Forbes, in the year 2018. The watchmaker has recorded a brand value of $7,433 million in the year 2020.

6. Cartier

The French luxury goods conglomerate was founded in Paris in the year 1847. The company designs, manufactures, distributes and sells jewelry and watches. The organization has been famous for designer jewelry of all kinds. Cartier recorded a brand value of $5,214 million.

7. Dior

Founded in the year 1946, Dior was a brainchild of the French fashion designer, Christian Dior. The luxury fashion house is known for its high end couture, bags, fragrances, accessories, and many more things. Dior, in 2020, has recorded a brand value of $ 5,117 million, thereby bagging the seventh place on the list.

8. Yves Saint Laurent

Another French luxury fashion brand, Yves Saint Laurent was founded in the year 1961 in Paris. The company is also known for its haute couture, leather, accessories, etc. In the year 2020, the brand value of the company amounted to $ 3,972 and hence it stands eighth on the list.

9. Burberry

A london based fashion house, Burberry was founded in the year 1856 as a British luxury fashion brand. It is known for a particular fabric pattern that signifies its unique appeal. The brand focuses on designing and distribution of ready-to-wear segment, trench coats, bags, fragrances and cosmetics. Burberry recorded a brand value of $ 3,847 in the year 2020.

10. Prada

The Italian luxury fashion house, since its inception, has focused on leather bags, travel bags and accessories, amongst other high end things. Prada was born in Milan, Italy in the year 1913 and was founded by the fashion designer, Mario Prada. In the year 2020, the company recorded a net worth of $ 3,059 million.