The world of fashion is changing. Fast. Once upon a time, fashion was only accessible to the rich, now-a-days – with commercialism, capitalism and other economic and egotistical factors, fashion (now expected to be fast fashion) is touched by all. We, as a modern, metro and entitled people, want our products without delayed gratification. And companies are finding ways to get it to us at that speed.
But is that what we really want?
In the Forbes list of Top 20 Companies in the world rated on net brand worth, Louis Vuitton and H & M are almost head to head. LV sits in at #10 and H & M at #13. For those who are loyal and love luxury, did you ever think you would see the day, where an established quality driven, luxury brand like LV (now aged 160 years old) had a young, buzzy and enthusiastic brand clipping its heels? (Aged: 67) Surprised? Well H&M is not so young, is it.
It’s astounding when you see the figures. Louis Vuitton is the world’s most valuable luxury brand and is a division of LVMH. Its products include leather goods, handbags, trunks, shoes, watches, jewelry and accessories. Most of these are adorned with the LV monogram. It is one of the most profitable brands in the world with profit margins approaching 40%.
Louis Vuitton at a Glance
- Industry: Luxury
- Founded: 1854
- Country: France
- Website: www.louisvuitton.com/
- Sales: $9.4 B
- Headquarters: Paris
Then you have the #1 FAST FASHION giant, H & M, Hennes & Mauritz AB which is a Sweden-based company. It operates under such brand names, as H&M, H&M Home, COS, Monki, Weekday and Cheap Monday. The Company’s product range comprises clothing, including underwear and sportswear, for men, women, children and teenagers, as well as cosmetic products, accessories, footwear and home textiles. The Company outsources product manufacturing to around 700 independent suppliers through its local production offices in Asia and Europe. Company sells its products through 2,472 stores spread across 43 markets. Online and catalogue sales are offered in Sweden, Norway, Denmark, Finland, the Netherlands, Germany, Austria and the United Kingdom.
H&M at a Glance
- Industry: Apparel/Footwear Retail
- Founded: 1947
- Country: Sweden
- CEO: Karl-Johan Persson
- Website: www.hm.com
- Employees: 72,276
- Sales: $18.13 B