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Sorry, Marc: Louis Vuitton might be slipping off its luxury brand pedestal, which it's topped for eight years now. One consumer study is pointing to a value decline from last year of 12 percent to $22.7 billion as the main indication of the bag-maker's ground loss. Though it seems like not a day goes by when someone questions the sustainability of luxury brands in a global market, Business of Fashion reports that rival brands are "managing the trade-off between exclusivity and affordability" better than LV.
Namely, Gucci and Prada are making headway jumping to third and fourth, respectively, while Hermés remains number two. The rest of the top ten most valuable luxury brands are as follows: Rolex, Chanel, Cartier, Burberry, Fendi and Coach. So even though it's still number one, when did LV slippage begin? Somewhere between hiking up iconic bag prices, Michael Phelps bathtub bag ads, and this bathroom, we presume.
· Louis Vuitton Hikes Up Prices on Iconic Bags [Racked]
· Louis Vuitton Loses Ground as World's Most Valuable Luxury Brand [BoF]