Gucci and Louis Vuitton are among the fastest-growing brands in the world, with the luxury fashion and accessories sector overall growing by 42 percent since 2017, according to a ranking by consultancy Interbrand.
Luxury apparel is the top-performing sector in a list of 100 companies that also includes the technology, consumer-goods, automotive and financial industries.
Gucci's brand value grew the most of any luxury fashion label on the list, up 30 percent to $12.9 billion, while Louis Vuitton grew 23 percent to $28.2 billion. The nine luxury brands featured had a combined brand value of $105.8 billion and also included Hermes, Tiffany & Co, Dior and Burberry.
Interbrand credits Gucci's Chief Executive Marco Bizzarri and its flamboyant Creative Director Alessandro Michele as the reason behind the firm's growth, with a "shadow committee" of young advisors who have helped the label appeal to a new generation. Meanwhile, Louis Vuitton appointed designer Virgil Abloh as its artistic director for menswear in March, a hire that will bring youth culture to the label.