Porsche remains on track as world’s most valuable luxury brand

Porsche, maker of iconic luxury sports cars and other performance vehicles, saw its brand value rise by 17% to US$43.1-billion over the past year.

French apparel giants Louis Vuitton (brand value up 23% to $32.2-billion) and Chanel (brand value up 35% to $26.1-billion) retain second and third positions in the 2024 ranking.

“The rising cost of living and economic instability have reduced spending for many, yet affluent consumers have sustained their purchasing power in challenging economic conditions, translating into continued sales growth for the world’s most valuable luxury brands,” Brand Finance comments.

The report’s analysis of brand strength, which uses a different set of metrics to brand value, finds that Rolex has become the strongest Luxury and Premium brand in 2024, earning a brand strength index (BSI) score of 90.1/100 and an equivalent AAA+ rating.

Watchmaker Rolex is followed by Italian sports car manufacturer Ferrari, earning a BSI of 90.0/100 and a AAA+ rating. Chanel jumps up a considerable 16 places to third position for brand strength in 2024, scoring 88.9./100.

Says Annie Brown, Valuation Director at Brand Finance UK: “Strong brands are built on more than just sales. This year’s leading luxury brands are remarkable for their unique ability to preserve and enhance brand strength, even in times of economic uncertainty.

“Traditional players are now finding new and innovative ways to deliver premium experiences that resonate with the modern luxury consumer while staying true to their distinctive heritage and iconic legacies. This balance between embracing transformation while preserving a tradition is fundamental to their enduring brand power.”

You can find out more about the report here.