Louis Vuitton has been named one of the top 20 most valuable brands in the world, according to Forbes. The French fashion house beat out competitors including Chanel, Prada and Gucci, taking the 14th spot in the final list of 100 companies.
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The Louis Vuitton show during Paris Fashion Week
Although the other fashion labels did feature in the top 100, Louis Vuitton was the only house to be included in the top 20 spots, in the list that comprises 15 countries worldwide and 20 industries.
A few places behind was sportswear giant Nike, who took the 18th spot, while Swedish retailer H&M came next at 33rd place – the high street brand has continued to gain a strong following for its affordable fashion and collaborations with high fashion designers, its latest being with Balmain. Some fashionistas were surprised to discover that major brands such as Prada and Chanel featured between the 60th-85th spots, despite being two of the most iconic fashion houses in the world.
The brand's creative director Nicholas Ghesquière
It comes as no surprise that Louis Vuitton's success has made it one of the world's most valulable brands – the label is reportedly worth around $28.1billion, and has seen major designers such as Marc Jacobs creating their world-famous collections. Their current creative director, Nicholas Ghesquière, was praised by the label in 2014 for having created an increased revenue.
"For Louis Vuitton, 2014 was characterised by strong creative momentum, dominated by the enthusiastic reception of Nicolas Ghesquière's first runway shows and of the new products," read a statement from the LVMH group last February.