What is the only Spanish firm among the 50 most valuable luxury brands in the world?

Bad times for luxury brands. On September 13, the 'Luxury and Premium 2021' report was published, a ranking prepared by the Brand Finance consultancy that each year collects which have been the most valuable high-end brands in the world and analyzes trends and changes in the industry.

As in 2020, this year the luxury brand sector has once again been marked by the Covid-19 pandemic. As the study collects, in this 2021 the world's big brands have once again suffered from the effects of the coronavirus and the social restrictions that have been imposed to stop their expansion. Specifically, the large companies in the premium industry analyzed by the consultancy have registered losses of more than 18,000 million euros in brand value, which represents a year-on-year reduction of 9% compared to the data, which is already poor, 2020, when, according to the calculations of the company's previous report, the brands were able to achieve losses of up to thirty million euros.

Teresa de Lemus, the managing director of Brand Finance in Spain, explains that the coronavirus pandemic fully affected this sector, in which "the exclusive shopping experience that it entails is irreplaceable by the digital world." "Luxury brands have the challenge of generating an exclusive experience in the online channel," she says, pointing to the future. “In a post-pandemic world where once-in-a-lifetime experiences are on the rise, luxury has great potential by properly blending online and offline experiences,” she adds.

In this 2021 ranking, Porsche repeats in first place for the fourth consecutive year, with a value of 29.2 billion euros. They are followed at the top by the Italian firm Gucci, with a value of 13.2 million, and the French Louis Vuitton, with 13.6 million. Chanel and Cartier, both French, exchange positions and complete this top 5, with a value of 11.2 million and 10.2 million, respectively.

Loewe, the only Spanish brand among the 50 most valued firms in the world

The 2021 list is dominated by French, Italian and German brands, which contribute 75% of the value of the ranking. Spain, for its part, has only managed to sneak in a single brand: Loewe.

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The luxury firm specializing in leather goods has become the only Spanish survivor on the list, ranking thirty-third, just behind the Italian clothing brand Valentino.

Despite having been able to stay within the ranking, Loewe, which belongs to the French group LVMH, has also been affected by the Covid-19 pandemic, and has fallen back compared to 2020, when, after registering a notable increase of 21 .5% of its brand value, climbed four positions to thirty-second place.

Specifically, this year the firm has lost 9.7% in value and 1.3 points in strength, according to the ranking. Even so, the Spanish company has had better luck than other big firms, such as Versace, Montblanc, Tom Ford, Miu Miu, or Fendi, which have directly disappeared from the classification.

With Loewe on the list, Spain contributes 1% of the value of the ranking, a small percentage that, however, allows it to remain within the ten countries that have the most valuable luxury and premium brands in the world.

Clothing brands dominate the ranking

If we look at the sectors to which the companies belong, the 2021 ranking has been dominated by companies in the textile sector, which, despite having been affected by the pandemic, represent 62% of the total value of the list.

Celine, the French ready-to-wear clothing and luxury leather goods brand of the LVMH group, has been the premium and luxury brand that has grown the most this year in brand value, signing a surprising increase of 105.5 % that has allowed him to climb thirteen positions to reach the thirty-fourth position. Worse luck has befallen the American Coach, which, with a drop of 34.7%, registers the largest drop in brand value in the clothing subsector.

The firms that are part of the list belong to just four sectors: textiles, automobiles, cosmetics and hotels, which appears for the first time in the ranking with two brands: Shangri-La, in 29th place, and Intercontinental, in position 35.

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