China hosts the 'Luxury Oscar Awards'
In January, the World Luxury Brand Association, (WLA) www.worldluxuryassociation.org a non-profit organization, named the top 100 most valuable luxury brands at a glitzy event, dubbed the Luxury Oscar Awards, in Beijing, China. The criteria for the awards were based on luxury brand’s influence on a global scale, market share and consumer feedback amongst others, making it the most credible ranking worldwide.
There was no major surprises with most of the awards going to mainstream, long established brands such as Hermès, Chanel, Louis Vuitton, Christian Dior in fashion and the likes of Azimut, Sunseeker, Riva in yachts and Rolls-Royce, Bentley and Ferrari in the category of cars. Chanel and Dior were also listed in top 10 luxury brands for cosmetics, which also included American brand Helena Rubinstein and the skincare range La Mer.
Top of the list of the best vacation places in the world (to add to your wish list) is the private island in Fiji, The Wakaya Club and Spa boasting 10 waterfront Fijian cottage suites just a few steps from the Pacific Ocean with every imaginable amenity except a television and a telephone, by design.
No surprise with the names included for the top awards for liquors – Martell, Louis XIII and Hennessy.
The top 10 for Innovation brands is the only Chinese homegrown brand Sun Valley Icewine, other names in this category included Harley Davidson, Bose and telephone makers Vertu.
China will become the world’s biggest consumer market of luxury products this year, as the country’s market share rose a further 2 percent bringing it to 29 per cent according to the WLA. With the decline in the value of the euro and the significant appreciation of the RMB, in addition to the forecast number of Chinese travelling to Europe in 2012, the total consumption of luxury products is expected to reach 59 billion Euros – a record high. Europe currently accounts for 18 per cent of the global luxury goods sector, while the US accounts for 14 per cent according to WLA.
The categories included:
The top 10 luxury fashion brands
The top 10 luxury cosmetic brands
The top luxury aircraft brands
The top 10 luxury yacht brands
The top 10 luxury car brands
The top luxury jewellery brands
The top 10 luxury watches brands
The top 10 luxury liquor brands
The top luxury resorts brands
The top luxury innovation brands.