A brand study has named Louis Vuitton, Hermes and Gucci as the top three global luxury brands of 2013, while Fendi and Coach have entered the top 10 for the first time.
BrandZ Top 100, a ranking of the most valuable global brands, has declared Louis Vuitton, Hermes, Gucci, Prada, Rolex, Chanel, Cartier, Burberry, Fendi and Coach as the top ten brands.
According to News.com.au, luxury brands have become more accessible, collaborative and experimental with the help of social networking sites promoting them online.
The value of the luxury sector had risen six per cent in the past year, compared to a 15 per cent increase a year ago, the report added.
However, there is a tough competition between the luxury brands for balancing exclusivity and customer building through use of social media.
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