Luxury Brand Rankings 2024 – Louis Vuitton Still Reigns, Hermès Surges

Top Rankings: Six of the top 10 global luxury brands are French, with Louis Vuitton leading, followed by Chanel, Hermès, Dior, Cartier, Gucci, Tiffany, Prada, Rolex, and Van Cleef & Arpels.
Louis Vuitton (LVMH):
- 2024 sales hit €22.2 billion, with €10.9 billion in operating profit (nearly 49% margin), easily outpacing Hermes and Chanel combined.
- However, it recorded a 1.5% sales decline, marking its first non-pandemic contraction, as earlier aggressive pricing (+60% increase since 2019) began to constrain demand.
Chanel:
- The second-largest brand, generating about €16.8 billion in sales, but experienced a 5% drop in 2024, especially in leather goods.
Hermès:
- The standout performer with 13% sales growth in 2024 to €14.8 billion, the fastest-paced among the top brands, due to stable pricing, limited supply, and affluent clientele.
- Its long-term trajectory continues upward, with a decade-long compound annual growth rate (CAGR) of ~14%.