• Nielsen surveyed consumers around the world about their favorite luxury brands. Gucci made first place, followed by Chanel, Calvin Klein, Louis Vuitton, and Christian Dior.
• The study attributes much of Gucci’s success to CEO Mark Lee. Since he became president in 2004 and then CEO in 2005, sales have soared.
• Designer goods were found to be most desirable in emerging markets where consumers also hold knock-offs in very low regard. North Americans were found to be more indifferent to authenticity of designer-labeled products.

Facts & Figures

• 1/3 of consumers in the United Arab Emirates and Hong Kong buy designer brands, compared to only 7% of North Americans.
• On North Americans’ lack of interest in luxury brands, 35% said they wouldn’t want to buy designer goods even if cost were not an issue.
• More than ¼ of North Americans said they were fine with fakes while only 8% of Asians were comfortable with the idea.

Best Quote

“That red and green stripe is some of the most iconic luxury branding ever created, and people want a piece of it.” – Michael Macko, Fashion Director at Saks Fifth Avenue, on Gucci

Tags: consumer spending, designers, Gucci