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Louis Vuitton maintains its stronghold for the fifth Index in a row, achieving first place through excellent consumer sentiment and impressive digital performance. Gucci maintains its second place, having first taken over Dior in the H1 2024 edition of the Index. Meanwhile, Fendi returns to the top 10 this edition, while Loewe climbs five positions to enter the top 10 for the first time.
Brand performance for the H2 2024 Index was assessed using more than 160 data points across consumer sentiment, digital, omnichannel, ESG and innovation. While financial results are now only updated once every two years, due to limited movement in this area, financial metrics still provide a symbolic weighting for brands, with average revenue and revenue productivity ratios (i.e. revenue per store and revenue per employee count) enabling us to compare performance in other areas with commercial scale.
The addition of social media platforms Douyin and Xiaohongshu in the H1 2023 edition and TikTok in H2 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. H1 2024 saw Stone Island assessed for the first time, while no new additions were added to the brand line-up in this edition of the Index.
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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