NEW YORK, NY— High net-worth female consumers rated Bottega Veneta the most prestigious women’s luxury fashion brand in the 2008 Luxury Brand Status Index (LBSI) survey from the independent New York City-based Luxury Institute (www.LuxuryInstitute.com). Respondents who would recommend Bottega Veneta say it is “very upscale and sleek looking,” “lasts forever and is timeless,” and “is very well made.” Hermes and Valentino ranked second and third, respectively.
“This year’s ratings indicate that wealthy women are highly discerning, perhaps to a fault,” said Milton Pedraza, CEO of the Luxury Institute. “Wealthy women rate Bottega Veneta a rare gem in a world of homogenizing brands. In a year when parting with your hard-earned money is carefully considered, wealthy women downgraded Vera Wang on prestige for its move to Kohl’s, although some saw this as smart business.”
“Quality is becoming an issue as many luxury brands accelerate outsourcing production to countries where the art of handcrafting is merely a production run, and in a world where Zara, H & M, and even Target have great styling and good quality,” said Pedraza. “If your brand had digressions in previous years, you need to know that wealthy women have long memories. They are the most informed consumers on the planet. Every brand rated has lessons to learn from the voices of high net-worth women.” Following are the 26 luxury women’s fashion brands that were rated (alphabetical order):
1. Armani 2. Bottega Veneta 3. Burberry 4. Calvin Klein 5. Carolina Herrera 6. Chanel 7. Christian Dior 8. Dolce & Gabbana 9. Donna Karan 10. Façonnable 11. Ferragamo 12. Fendi 13. Gucci 14. Hermes 15. Louis Vuitton 16. Marc Jacobs 17. Michael Kors 18. Oscar de la Renta 19. Polo Ralph Lauren 20. Prada 21. St. John Collection 22. Tory Burch 23. Valentino 24. Vera Wang 25. Versace 26. Yves Saint Laurent
The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 818 wealthy female American consumers, with an average income of $348K and average net-worth of $3.6 million, was surveyed online. Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.
About the Luxury Institute
The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates 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 the Luxury Board (www.LuxuryBoard.com), the world’s first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.LuxuryInstitute.com.