An Index Launched by Business Korea and Korea Reputation Center
A luxury brand reputation survey carried out in Korea in June 2021 ranked Louis Vuitton first, Gucci second and Chanel third.
The survey, based on a big data analysis, was jointly conducted by Business Korea and the Korea Reputation Center, which periodically publishes brand reputation indices on a wide range of products and services to convey consumer desires directly to corporations and institutions.
The two organizations selected 30 luxury brands and analyzed consumer desires through 45,014,023 pieces of data from May 23, 2021 to June 23, 2021.
The brand reputation survey divides consumer activities into five categories --participation value, communication value, social value, market value and financial value. The Brand Reputation Index is an indicator created through a big data analysis as consumers' online habits have a significant impact on brand consumption.
Business Korea and the Korea Reputation Center measured consumers’ positive and negative evaluations of the luxury brands, media interest in them, the volume of communication about them among consumers, the volume of conversations about them on social media channels, and the shares they take up in online communities. They built the luxury brand reputation index by dividing brand reputation big data into the participation index, the communication index and the community index.
The top 30 brands in the brand reputation rankings in June 2021 were Louis Vuitton, Gucci, Chanel, Prada, Dior, Burberry, Hermes, Bottega Veneta, Balenciaga, Tory Burch, Celine, Cartier, Coach, Fendi, Vivienne Westwood, Bulgari, Goyard, Rolex, MCM, Marc Jacobs, Chloe, Salvatore Ferragamo, Loewe, Couronne, Kangol, Paul Smith, Bao Bao, Longchamp, Mulberry and Givenchy.
Louis Vuitton ranked first with a participation index of 2,112,849, a communication Index of 2,109,946, a community index of 2,089,632, and a brand reputation index of 6,312,427.
Second-ranking Gucci logged a brand reputation index of 5,340,684, a participation index of 1,190,225, a communication index of 2,060,061 and a community index of 2,090,398.
Chanel came in third with a brand reputation index of 4,298,491, a participation index of 927,510, a communication Index of 1,653,383 and a community Index of 1,717,598.
Fourth place went to Prada which recorded a brand reputation index of 3,808,623, a participation index of 661,130, a communication Index of 1,761,139 and a community index of 1,386,354.
Dior claimed fifth place with a brand reputation index of 2,941,611, a participation index of 811,486, a communication index of 1,006,084 and a community index of 1,124,041.
“Louis Vuitton came in first in our first luxury brand reputation survey,” said Lee Song-hoon, marketing director of Business Korea. “Louis Vuitton is a French luxury brand founded in 1854. It opened its first store in Paris in that year. It is well known for destroying its excess products to preserve its reputation of exclusivity."
"Our luxury brand reputation analysis covered 45,014,023 pieces of luxury brand-related information from May 23, 2021 to June 23, 2021,” said Koo Chang-hwan, who runs the Korea Reputation Center. “The Brand Reputation Index is an indicator created by analyzing the relationships between consumers and brands using big data.”
Business Korea and the Korea Reputation Center will announce the Luxury Brand Reputation Index in Korea every month through a big data analysis.
