Luxury analysts say consumers worldwide gravitated to the 'must-have' megabrands.
This financial might allows them to dominate the social media discussion and also to win the real estate battle within shopping malls and high streets.
Most of the brands mentioned above already generate more than 5 billion euros in revenues annually, with Gucci sales dipped to 7.44 billion euros in 2020 due to pandemic disruptions, but the brand could break the 10 billion euros barrier in 2021 as most brands were trending well about 2019 levels, when Gucci recorded 9.63 billion in revenues. The Italian brand reported revenues of 6.66 billion euros in the first nine months of the year.by director Ridley Scott are seen having a strong halo effect on the brand as it closes out the year.
LVMH Louis Vuitton Moët Hennessy achieved its highest market capitalization in 2021, surpassing 400 billion euros at one point and luxury chieftain Bernard Arnault at times becoming the world’s wealthiest man. Rambourg noted that within luxury conglomerates, some second-tier brands can thrive if they have a “very edgy positioning.”
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