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COVID-19 could wipe US$ 35 billion from top brands
"The GVC could strip brand equity equal to US$ 35 billion from the world's 50 biggest luxury and premium brands."
According to a study published by Brand Finance, the GVC could strip brand equity equal to US$ 35 billion from the world's 50 biggest luxury and premium brands.
THE Specifics The Luxury & Premium 50 2020 analyst shows that clothing was the most affected, facing a loss of brand value of 20 percent, while cosmetics brands are expected to avoid any real harm.
For example, in 2020, Givenchy has named the fastest-growing company, jumping from 37th to 26th position, thanks to strong success and development, especially in its make-up division and through its L'Interdit fragrance.
Over the year, Lauder also saw it’s market worth increase, rising to 11th position from the 14th of last year. Once again, Guerlain was ranked 13th, while Shiseido fell to 14th and L'Oréal-owned Lancôme rose two positions to 17th. Clarins fell to 20th and SK-II of P&G added five positions to rank 24th.
The Chinese market, Brand Finance claims, has kept several luxury brands afloat. "The Chinese market's role in maintaining good health and success in the luxury & premium sector is undeniable," said Alex Haigh, Valuation Chief, Brand Finance.
Source:globalcosmeticsnews
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