The luxury fashion industry has been expanding for a very long time. Though still in its growing and expanding stages, it is known to have been grown for about $290 billions till last year,2016. Every year there is an expected growth of about 5-7% from luxury fashion brands and the industry that they make up.
The luxury fashion industry is largely dominated by Louis Vuitton globally. There are other luxury brand names emerging all over the world, to become the potential industry leaders. While, there are few fashionable brands like Braun Watches which are developing slowly as luxury brands but have reached a huge success in the local markets. The most common names for being potential leaders are Gucci and Prada. They have experienced a growth rate like no one else and have the capability, according to industry experts, to take over the market and stay at the top some day. Let’s take a look at other luxury fashion brands in accordance to their net worth in the market.
- Formed in the 1960’s Oscar de la Renta has been a popular brand in the luxury fashion industry. The prices of the products under the brand name are sky high, which are impossible for an average person to afford. Elite people love the brand and swear by it. Their products range from bridal dresses, formal dresses, dresses and outfits for children, shoes, handbags, accessories, etc.
- As we talked about just before this, Louis Vuitton is one of the global leaders in luxury fashion. Often abbreviated to be LV, has been a recognized brand name since 1984. The current brand net worth is approximate $30 billion and has been there in the top 10 list of the luxury brand in the world, on the Forbes list. Their bags can easily cost about $30,000, making them loved all over.
- The third brand in the list of luxury fashion brands is the 90-year-old Italian brand, Prada. The clothing items, their bags, their shoes, their leather goods, their watches, everything is loved by every fashion lover in the world. It is an extremely popular brand among the people in the elite and the posh societies.
- When it comes to perfumes, everyone knows the synonym- it is Chanel. Yes! The famous brand formed by COCO Chanel is the comfortable luxury fashion brand all over. Formed I the 1920’s, it is one of the global leaders in the luxury fashion industry. They have been stretching their arena to bags, which are being loved by the people.
- The 1946 formed company- Dior has had a nice reputation in the market among various luxury fashion brands. Their bags are adored by everyone in the elite club.
- Found in 1920 by Guccio Gucci, the luxury fashion brand Gucci has been the most famous fashion brand in a very short duration. Their range varies from shoes, clothes, leather products, bags, etc.
- Formed by both Giorgio and Sergio in 1975, Armani is a brand that is famous for its elegant dresses and other outfits. They have solutions to all your elite issues- be it clothing, or footwear, bags, or even household designer items.
- Thomas Burberry formed the brand Burberry in the year 1856. The most expensive and the most popular item from Burberry is the peacock feathered dress worth $35000.
- Elton John, Princess Diana, Tina Turner are some of the names who used to shop from the world famous luxury fashion brand Versace. The $79 billion worth company was formed in the year 1978.
- Fendi has been serving all kinds of luxury fashion brand problems since 1925. The Italian fashion brand has a wide range of products to suit the elitists.