It’s a tight race to the top for the world’s luxury fashion labels. Deloitte’s third annual Global Powers of Luxury Goods that identifies the world’s top 100 largest luxury goods companies has just been released with some interesting results.
Coming it at number 1 is French-based LVMH (Louis Vuitton Moët Hennessy SE) who are the parent company for luxury staples like Louis Vuitton, Fendi, Bulgari, Acqua di Parma, Marc Jacobs and TAG Heuer with a mind-blowing $23,297 million USD in sales over FY14.
Following LVMH in second place was Richemont who are responsible for watchmaking experts Cartier, Montblanc, Vacheron Constantin, IWC, Piaget and Officine Panerai. Third place went to the U.S. parent company of grooming brands like Estée Lauder, Clinique, Aveda and Jo Malone and fifth went to the Italians behind Ray-Ban, Oakley, Persol and Oliver Peoples eyewear.
The report also found that sales for the world’s 100 largest luxury goods companies continues to grow despite economic challenges and with a whopping 29 companies in the Top 100, Italy is once again the leading luxury goods country. Time to take some style cues from the Italians, perhaps?