List of 2018's 100 top-performing sectors in the world consists of Luxury apparels at one of the highest spots including financial, automotive, technology and consumer goods industries.
The Gen Z youngsters have a great impact on turning luxury brands market globally. What was considered premium luxury brands and afforded by 10% of the total population a decade back has increased tremendously. Because the current generation has a completely different perspective of status, lifestyle and above all their exceeding guard of social media presence.
$29 billion value luxury brand Louis Vuitton has been rated and ranked as the most expensive label overall. Michael Burke is its CEO from 2012 and chairman of LVMH group. LVMH remains as the family-run group on long term basis for the in house development. He has been working in a managing role since 1986. Michael is associated with Louis Vuitton and Dior of America from its early stages. It helped him to guide Louis Vuitton as the leading brand internationally.
It is valued as $20 billion approximately. The privately held firm is co-owned by Alain Wertheimer and Gerard Wertheimer. Alain is chairman of the House of Chanel from 2012. This French businessman has been managing Chanel along with other family members. Chanel has entered the luxury brand list in the recent years but became competitive very soon. Recent loss of its ex-creative director Karl Lagerfeld who integrated Coco Chanel into the House of Chanel and bought global fame, Chanel faced huge changes but never let its rank down.
$13 billion is the approximate value of Gucci until last year. The Italian businessman Marco Bizzarri is the CEO and President of Gucci from 2015. Gucci is owned by the parent organization Kering. Marco started his career in Accenture then moved his way to become a CEO for Madarina Duck in late 1993-2003. From then his CEO role has been prominent in various firms before he joined Kering in 2012. Marco is known for his successful strategies to drive the company into achieving profitability. Within 1 year of his leadership in Gucci, the sales of the firm in 2016 increased by 13%. He takes giant decisions and brings changes in the company without hesitation.
Competitively challenged CEOs and managing leads have created luxury lifestyle as a more desirable image. As the display of flexing as known to these millennials, supreme brands have taken over the fashion world to pinnacle.