Brand Finance：2019全球最有價值高檔和奢侈品牌 50 強（英文版）（22頁）(22頁).pdf

1、Luxury those who could only ever aspire to wear Chanel clothing but who could own a perfume or lipstick. Whether Karls successor Virginie Viard can continue the brands journey is yet to be seen. Herms & Tom Ford reject A-list stars While celebrity endorsements are rife amongst luxury brands usually

2、in the form of advertisements and brand ambassadors 2 of the top 50 brands in the Brand Finance Luxury & Premium 2019 ranking notably do not use celebrities as part of their marketing strategies. Herms (up 14% to US$10.9 billion) aversion to celebrity endorsements can perhaps be summarised in a quot

3、e from former CEO, Jean-Louis Dumas: “We dont have a policy of image, we have a policy of product”. This policy still rings true, trickling down to the brands marketing strategy, as celebrities such as Kendall Jenner and Cara Delevigne who are so popular with Herms competitors, are absent from the b

4、rands advertisements and social media pages. Tom Ford (up 34% to US$633 million), follows a very similar marketing strategy, as the eponymous CEO has been famously quoted as saying that celebrities “cheapen” the brand. Save for the memorable Tom Ford show at New York Fashion Week in 2010, when stars

5、 such as Beyonc and Julianne Moore modelled on the designers catwalk, the brand has largely avoided using Hollywood stars in their marketing campaigns. The absence of orchestrated celebrity appearances in Herms and Tom Fords marketing campaigns does not invalidate either brand profiting from more in

6、formal celebrity endorsements. In the case of Hermes, the brands highly sought-after Birkin bags have famously been in the headlines, pictured on the arms of celebrities such as Kim Kardashian and Victoria Beckham. Undoubtedly, this media furore has contributed to consumer perceptions of Birkin bags

7、 as rare and collectable items, sparking five-year long waiting lists for the latest models. Similarly, Tom Fords brand has been viewed to benefit from informal celebrity endorsements, as the fashion mogul is frequently seen in the company of A-list celebrities, as per his recent interview with Juli

8、anne Moore for Vogue. Ferrari races ahead Aside from calculating overall brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Alongside revenue forecasts, bran

9、d strength is a crucial driver of brand value. According to these criteria, Ferrari (up 27% to US$8.3 billion) is the worlds strongest luxury and premium brand with a Brand Strength Index (BSI) score of 94.8 out of 100 and an elite AAA+ brand strength rating. Since its inception, Ferrari has remaine

10、d synonymous with style and performance, enabling the brand to successfully extend into other sectors from merchandise, such as hats and sunglasses, to theme parks, and even the Maranello Village, a Ferrari-themed hotel without losing its appeal as a luxury brand. Upmarket auto brands in general con

11、tinue to turn heads and win consumer approval. Executive Summary. Country Brand Value (USD bn) % of total Apparel116,68455.7% Auto50,60924.1% Cosmetics & Personal Care42,29420.2% Total 209.6100.0% Brand Value by Sector Brand Finance Luxury & Premium 50 October 2019 13 Brand Finance Luxury & Premium

12、50 (USD m). Top 50 most valuable luxury & premium brands 1-50 2019 Rank 2018 RankBrandCountrySector 2019 Brand Value Brand Value Change 2018 Brand Value 2019 Brand Rating 2018 Brand Rating 110PorscheGermanyAuto$29,347+54%$19,055AAAAAA 232CartierFranceApparel$13,642+39%$9,805AAA-AAA- 321Louis Vuitton

13、FranceApparel$13,576+29%$10,487AAAAAA 492ChanelFranceCosmetics & Personal Care$11,480+95%$5,884AA+AA+ 541HermesFranceApparel$10,920+14%$9,545AAAAAA 651GucciItalyApparel$10,192+19%$8,594AAAAAA 761FerrariItalyAuto$8,327+27%$6,537AAA+AAA+ 871RolexSwitzerlandApparel$8,047+27%$6,360AAA+AAA 981CoachUnited

14、 StatesApparel$7,544+22%$6,189AAA-AAA- 10162DiorFranceApparel$6,323+57%$4,035AAA-AAA- 11110Tiffany & Co.United StatesApparel 12152SHISEIDOJapanCosmetics & Personal Care 13101GuerlainFranceCosmetics & Personal Care 14131Este LauderUnited StatesCosmetics & Personal Care 15121BurberryUnited KingdomAppa

15、rel 16172PradaItalyApparel 17202OmegaSwitzerlandApparel 18141ClarinsFranceCosmetics & Personal Care 19190ArmaniItalyApparel 20222LancmeFranceCosmetics & Personal Care 21181Aston MartinUnited KingdomAuto 22252MonclerItalyApparel 23242BulgariItalyApparel 24301MaseratiItalyAuto 25292ValentinoItalyAppar

16、el 26231BentleyUnited KingdomAuto 27270Saint LaurentFranceApparel 28392SK-IIJapanCosmetics & Personal Care 29322TAG HeuerSwitzerlandApparel 30312SulwhasooSouth KoreaCosmetics & Personal Care 31332LamborghiniItalyAuto 32281Bottega VenetaItalyApparel 33372Rolls- RoyceUnited KingdomAuto 34261Salvatore

17、FerragamoItalyApparel 35412McLarenUnited KingdomAuto 36341LoeweSpainApparel 37351GivenchyFranceApparel 38-3MontblancSwitzerlandApparel 39422LonginesSwitzerlandApparel 40361VersaceItalyApparel 41432AUPRESJapanCosmetics & Personal Care 42381Dolce & GabbanaItalyApparel 43-3Bobbi BrownUnited StatesCosme

18、tics & Personal Care 44492Jaeger-LeCoultreSwitzerlandApparel 45401HeraSouth KoreaCosmetics & Personal Care 46451Giorgio ArmaniItalyCosmetics & Personal Care 47441Miu MiuItalyApparel 4846Cl de Peau BeautJapanCosmetics & Personal Care 49481Tom FordUnited StatesCosmetics & Personal Care 50-3FendiItalyA

19、pparel 14 Brand Finance Luxury & Premium 50 October 2019 Some companies can enhance their brand with an even closer association with the Monarchy. The Royal Warrant is granted on the recommendation of the Lord Chamberlain, to suppliers of goods or services who have had a trading relationship with th

20、e households of the Queen, the Duke of Edinburgh, or the Prince of Wales for at least five years. The award of a Royal Warrant allows the company or individual to display the Coat of Arms of the member of the Royal Family in question alongside their own Coat of Arms or the company logo. The Royal Wa

21、rrant Holders Association points to William Caxton as the first Warrant holder, following his appointment as the Kings printer in 1476. Tradesmen began displaying the Royal Arms in the late 18th century, but it was not until Queen Victorias reign that Royal Warrants gained the mass appeal and intern

22、ational renown they still confer today. Throughout her reign, the Queen has granted over 2000 Royal Warrants to companies that are still household names including Schweppes and Twinings. The Royal Warrant is both a matter of prestige and a commercial benefit. It is the most direct connection to the

23、Royal Family a firm can hope to achieve, highlighting both the enduring appeal of Royal associations and the use of heraldry in cementing them. It is worth noting that this is highly dependent on both the sector and size of the brand. Originally, the Royal Warrant was seen as a guarantee of acceptab

24、le quality as well as an indicator of prestige. The former function may no longer be quite as relevant since the shop or supermarket where a product is sold may be a sufficient guarantor of quality for the consumer. Tighter regulations on product quality and manufacturing will have helped to raise m

25、inimum standards. Therefore, for product categories where display and status do not feature in purchasing decisions and functionality is paramount, the financial benefit of the warrant may indeed be relatively small. Examples include Boots and DHL, which hold Royal Warrants but do not frequently adv

26、ertise the fact. On the other hand, for brands that trade on values or activities associated with the Monarchy, the added value can be very significant. Brand Finance research indicates that some companies may earn up to 5% of their revenue as a result of the Royal Warrant. Growing international dem

27、and for high quality British goods has contributed to a new surge of interest in the Royal Warrant. Firstly there is the recent surge in interest in everything to do with the British Royal Family, arising from the wedding of William and Kate and the Queens Diamond Jubilee in 2012. However, a second

28、and longer term trend may be even more beneficial. Increasing Asian affluence in the 21st century has already boosted demand for luxury goods. Asian consumers are said to be particularly impressed by the Royal Warrant and this has contributed to a resurgence of British fashion brands, such as Burber

29、ry and Barbour, both of which display their Royal Warrants prominently. David Haigh CEO, Brand Finance The Value of Royal Warrants. Brand Finance Luxury & Premium 50 October 2019 15 Individuals, organisations, and companies are keen to associate themselves with the notions of duty, service, consiste

30、ncy, and heritage that the Monarchy conveys. The fact that the British Monarchy is still a working institution and that the College of Arms has such close ties to it, means a grant of arms is the most relevant and direct way for British and Commonwealth brands to associate themselves with such noble

31、 characteristics. The rigorous process conducted by the heralds at the College of Arms means that only those companies deemed to have sufficient standing will be awarded arms, so the public can have confidence that the desired associations are grounded in fact. A Coat of Arms is therefore a certific

32、ation of a brands dependability and longevity, reinforcing consumer perception and boosting brand value. Brand Finance Coat of Arms Brand Finance originally registered its Coat of Arms on its 10th anniversary in 2006. In 2016, we were able to apply for supporters. These are only granted to companies

33、 deemed highly reputable by the College of Arms. We have found that the usage of the Coat of Arms is helpful in our core Brand Finance business, particularly in the international market where the implied status is recognised, but also with regards to the Brand Finance Institute, Brand Finance Forums

34、, and Brand Exchange. All aspects of the full Brand Finance Coat of Arms have been specially created and have meaning related to our ethos and philosophy. We distinguish between the use of a full and a simplified Coat of Arms depending on the application. Simplified Coat of Arms Due to the modern de

35、mands of an organisations logo, some sectors may not be able to maximise the use of a full and intricate Coat of Arms. A simplified Coat of Arms can be created from the full heraldic version to allow for much more flexibility in terms of application strategy. The Brand Finance heraldic design was si

36、mplified to use it alongside our Brand Finance word mark whilst still retaining its status as an official Coat of Arms. Bridge Symbolises the companys mission: Bridging the gap between marketing and finance. Diagonal lines The heraldic symbol for branding. Circles The heraldic symbol for finance. Bo

37、ok The heraldic symbol for knowledge. Colours Blue: Strength, truth and loyalty. Gold: Understanding, respect, virtue and generosity. Dragons The heraldic symbol for strength and guardianship. Why Coats of Arms Matter to Brands. 16 Brand Finance Luxury & Premium 50 October 2019 E nt er pr is e Va lu

38、 e B r a n d e d B u s in e s s V al u e B r a n d C o n t r i b u t i o n Brand Value Definitions. Brand Value + Enterprise Value The value of the entire enterprise, made up of multiple branded businesses. Where a company has a purely mono- branded architecture, the enterprise value is the same as

39、branded business value. + Branded Business Value The value of a single branded business operating under the subject brand. A brand should be viewed in the context of the business in which it operates. Brand Finance always conducts a branded business valuation as part of any brand valuation. We evalu

40、ate the full brand value chain in order to understand the links between marketing investment, brand- tracking data, and stakeholder behaviour. + Brand Contribution The overall uplift in shareholder value that the business derives from owning the brand rather than operating a generic brand. The brand

41、 values contained in our league tables are those of the potentially transferable brand assets only, making brand contribution a wider concept. An assessment of overall brand contribution to a business provides additional insights to help optimise performance. + Brand Value The value of the trade mar

42、k and associated marketing IP within the branded business. Brand Finance helped to craft the internationally recognised standard on Brand Valuation ISO 10668. It defines brand as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, int

43、ended to identify goods, services or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits. LVMH MOET Louis Vuitton Louis Vuitton Louis Vuitton Brand Finance Luxury & Premium 50 October 2019 17 Brand Strength Index Marketing Investm

44、ent A brand that has high Marketing Investment but low Stakeholder Equity may be on a path to growth. This high investment is likely to lead to future performance in Stakeholder Equity which would in turn lead to better Business Performance in the future. However, high Marketing Investment over an e

45、xtended period with little improvement in Stakeholder Equity would imply that the brand is unable to shape customers preference. Stakeholder Equity The same is true for Stakeholder Equity. If a company has high Stakeholder Equity, it is likely that Business Performance will improve in the future. Ho

46、wever, if the brands poor Business Performance persists, it would suggest that the brand is inefficient compared to its competitors in transferring stakeholder sentiment to a volume or price premium. Business Performance Finally, if a brand has a strong Business Performance but scores poorly on Stak

47、eholder Equity, it would imply that, in the future, the brands ability to drive value will diminish. However, if it is able to sustain these higher outputs, it shows that the brand is particularly efficient at creating value from sentiment compared to its competitors. Brand Strength Brand Strength i

48、s the efficacy of a brands performance on intangible measures, relative to its competitors. In order to determine the strength of a brand, we look at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. Each brand is assigned a Brand Strength Index (BSI) score o

49、ut of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding rating up to AAA+ in a format similar to a credit rating. Analysing the three brand strength measures helps inform managers of a brands potential for future success. Investment Equity Performance Definitions. Marketing Investment Stakeholder Equity Business Performance Widely recognised factors deployed by marketers to create brand loyalty and market share. Perceptions of the brand among different stakeholder gr