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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.

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.