Brand loyalty and iconic products propel Hermes to second place in Kantar BrandZ Ranking

Hermes ranked as the second most valuable luxury brand in Kantar BrandZ Top 100 Global Ranking, next only to Louis Vuitton.

The brand was valued at $76.299 billion which is a drop from last year’s $80.823 billion value. However, despite this, Hermès is still considered a winner for 2023.

According to Kantar, Hermès was ranked as the second most valuable luxury brand even though it did not sign on any brand ambassador.

What’s more, brand loyalty of its customers to its hero products such as its Birkin bag, was credited for its strong positioning.

“The highest-performing luxury brands in this year’s ranking have been supported by strong brand equity, leading to faster and higher returns for brand owners. Continuing to invest in high-quality marketing plays a critical role for luxury brands. The most valuable global luxury brands show that success remains possible for brands despite the current volatile environment and prove that even brands with much higher prices can continue to grow with the right strategy and focus,” said Martin Guerrieria, head of Kantar BrandZ.

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