Porsche scoops top spot as the world's most valuable luxury brand

Porsche has yet again scooped the top spot as the world’s most valuable luxury brand in a Brand Finance report.

The manufacturer recently turned into Europe's most valuable car company in an IPO on the Frankfurt Stock Exchange that gave it an €85bn valuation, more than parent company Volkswagen, which is valued at €77.7bn. 

"The report aims to survey products and services that are well known for high quality but are not widely considered or purchased due to price," said Brand Finance, a leading brand valuation consultancy. "This often manifests in high brand awareness and a strong reputation for quality but low purchase relevance and conversion, as most consumers do not consider the brands within their reach due to price, added the company."

Louis Vuitton took second place ahead of Gucci, Chanel, and Hermès in a list dominated by fashion apparel brands. Only two automotive brands cracked the top ten — Porsche at the top and Ferrari in ninth, with a further five vehicle brands listed in the top 50.

Italian Ferrari is ranked ninth in the world, down two points from seventh in 2021. The brand, which is lying second in the Formula One constructors’ championship, launched new products in 2022, the most important being the Purosangue, its first SUV. It also launched 599 units of the third and exclusive Icona series, the 296 GTB series, another one-off in the SP51 while some of its iconic vintage models found new homes through pricey auctions. 

This article is adapted from one originally published on Business Live. Visit Business Live for the latest in business and lifestyle news.