LUXURY BRANDS

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

By our African Marketing Confederation News Team | 2024

Maker of iconic luxury sports cars and other performance vehicles saw its brand value rise by 17% over the past year – Brand Finance report.

Auto company Porsche has retained its position as the world’s most valuable Luxury and Premium brand for the seventh consecutive year, according to new data from independent brand valuation and strategy consultancy, Brand Finance.

Photo: Porsche

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.

Pre-conference masterclass discusses taking African brands to the world

Participants challenged to identify, articulate and commercialise the cultural assets that make their brand ready for a global audience.

Three people stand side by side in front of a sports direct backdrop the woman in the middle holds a blue and orange 'sports direct' sign

Africa’s first Sports Direct retail store opens its doors in Nairobi

Second outlet planned for Nairobi before year end, with Nigeria, South Africa and Morocco said to be future target markets.

Person wearing a beige sweater holds a phone with a translucent search bar reading 'search' and microphonecamera icons in the foreground

Search is fragmenting – credibility and trust create the new visibility

Online search behaviour has changed significantly with the rise of AI. How can African brands adapt to this new marketing landscape?

Person shopping at a deli counter holding an orange shopping basket in a cheese section of a supermarket

The move toward future-ready food packaging where materials meet AI

Researchers propose a framework for packaging that senses, learns and acts – making packaging an active, AI-powered tool against food waste.

Conference stage with a woman in a patterned dress speaking to an audience large screens display '' logos and banners for a marketers conference with 'institute of marketing in malawi' branding on stage panels and backdrop

Malawi’s marketers urged to put trust at the heart of the profession

Country needs marketers to build recognition and consumer trust around Malawian products and national brand, says Deputy Minister.

Lingerie brand creates street-stopping advertising in Manhattan

Fashion brand suspends giant lingerie high above the city’s streets, using shadows to create a moving billboard for pedestrians and motorists.

We know AI influencers aren’t real – so why do we trust them?

Researchers describe AI influencers as having a ‘dual identity’. Consumers evaluate both ‘person’ and ‘technology’ identities at once.

Hotel receptionist assisting a guest at the check in counter with a gray suitcase nearby behind the desk

Why trust has become a critical asset for hotel industry marketers

Reputation and trust, once modest influences on hotel choice, have become some of the strongest predictors of patronage, study finds.

Three people in formal attire pose for a photo at an awards event a woman in a pink dress holds a trophy while two men in suits stand beside her against a gold confetti backdrop

FNB bank’s eBucks programme dominates the 2026 SA loyalty awards

South African brands are increasingly setting the global benchmark for customer loyalty strategies, organisers say.

Portrait of a man with short black hair and a beard wearing a black button down shirt against a light gray background

Zambia’s strongest creative ideas are emerging from local truths

Global influences among younger consumers are still present, but they are being filtered through a distinctly Zambian lens.

Yellow humanoid robot at a bakery counter inspecting a display of donuts on display in front of glass cases

Consumers have doubts about products when they’re designed by AI

Researchers find that lack of perceived ‘genuine care’ is the mechanism connecting AI involvement to lower trust ratings.