NEW YORK, NY--(Marketwire - June 2, 2010) - The objective and independent New York City-based Luxury Institute reported today the results of the "Best of the Best" luxury fashion brands in Japan based on the 2010 Luxury Brand Status Index (LBSI) survey. This survey identifies the top brands that deliver true luxury based solely on the unbiased ratings of wealthy Japanese consumers. The following five luxury categories were rated: Women's Fashion, Women's Shoes, Women's Handbags, Men's Fashion, and Men's Shoes.
The LBSI asks high net-worth consumers to rate luxury brands by category across four equally weighted components: Consistently Superior Quality, Uniqueness and Exclusivity, Making the Customer Feel Special Across the Entire Experience and Being Consumed by People Who Are Admired and Respected.
The "Best of the Best" are: (LBSI score out of 10)
Women's Fashion (Ready-to-wear)
- Hermes-7.28
- Chanel-7.27
- Giorgio Armani-6.80
Women's Handbags
- Hermes-7.77
- Chanel-7.06
- Louis Vuitton-7.01
Women's Shoes
- Christian Louboutin-7.39
- Hermes-7.20
- Ferragamo-7.18
Men's Fashion (Ready-to-wear)
- Ermenegildo Zegna-7.17
- Hermes-7.01
- Giorgio Armani-6.89
Men's Shoes
- John Lobb-7.34
- Testoni-7.32
- Ferragamo-7.11
"Japan may be a challenging market for luxury, but it is still a huge market compared to most other geographies," said Milton Pedraza, CEO of the Luxury Institute. "We see major efforts on the part of our luxury brand clients to differentiate themselves by dramatically out-behaving their competition rather than merely outperforming on products. Extraordinary customer experiences will be the drivers of luxury success in Japan's large but stagnant market."
The proprietary Luxury Brand Status Index (LBSI) survey is the only unbiased measure of the prestige of leading brands among wealthy Japanese. A national sample of 600 wealthy Japanese consumers, half male/half female, with a minimum household income of 15 million Yen (approximately $165k) was surveyed online. Males rated only the men's categories and females rated only the women's categories.
About the Luxury Institute
The Luxury Institute is the uniquely independent and impartial ratings, research and Luxury CRM consulting institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications, research and consulting services that guide and educate high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates LuxuryBoard.com, the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs.
Contact Information:
Contact:
The Luxury Institute, LLC
Martin Swanson
Vice President Business Development
(914) 909-6350
mswanson@luxuryinstitute.com