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Louis Vuitton maintains its stronghold for the fourth Index in a row, achieving first place through excellent consumer sentiment and impressive digital and financial performance. Gucci overtakes Dior in second place, while Balenciaga returns to the top 10, having previously dropped to 11th in the Spring/Summer 2023 edition.
Brand performance for the Winter 2023/24 Index was assessed using over 160 data points across consumer sentiment, digital, omnichannel, ESG, innovation and financial results. Financial data is updated annually (in the Spring/Summer Index editions) and consistently informs brand rankings.
The addition of social media platforms Douyin and Xiaohongshu in the Winter 2022/23 edition and TikTok in Spring/Summer 2023 allowed us to track movement within the fast-moving digital landscape, as well as opportunities in emerging markets.
The overall weightings of category pillars and their individual metrics were determined through industry relevance and importance to the consumer; allowing us to objectively assess a brand’s performance. The final weighting for each category was agreed upon following a review process with our data analysts and expert editors.
Sixty brands were assessed in total. Periodically, we review these select brands based on matters such as revenue, for example, so if a brand slips below the required threshold, it is omitted. In this Winter’s Index, Stone Island was assessed for the first time, marking the only addition to the line-up of brands since Spring/Summer 2023.
Consumer research remains fundamental to the Vogue Business Index, with readers across a number of Condé Nast titles — including Vogue, GQ, Vanity Fair and Condé Nast Traveller — participating in a bi-annual luxury consumer sentiment survey that enables us to achieve granularity when it comes to understanding awareness, customer challenges and beliefs about brands.
Future iterations of the Vogue Business Index will also continue to expand the brands, metrics and digital platforms assessed. Each new addition will be prioritised in line with industry needs and developments.
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