Despite the uncertainty of the economy worldwide, luxury brands are experiencing steady growth globally, reports the Brand Channel.
Deluxe brands are holding strong across the board, according to the 2013 Harris Poll Equi Trend report, based upon three key factors: familiarity, quality, and purchase consideration.
Starwood Hotels & Resorts, which topped the luxury hotel chain category, anticipates having sufficient monies over the next three years to launch its tenth separate luxury brand. Mercedes-Benz and Saks garnered top honors in the luxury automotive brand and luxury retailer categories, respectively.
Global demand for luxury British brands such as Jimmy Choo and Burberry are giving the U.K. hope their economic gloom is clearing as exports are climbing and Business Secretary Vince Cable is eyeing China, Brazil and India to promote upscale British brands including Aspinal of London, Hackett London and Turnbull and Asser.