SOURCE: Luxury Institute

 

NEW YORK, NY--(Marketwire - September 3, 2008) - For the second year, high net-worth consumers rated Leiber the most prestigious luxury handbag brand in the 2009 Luxury Brand Status Index (LBSI) survey from the independent New York City-based Luxury Institute (www.LuxuryInstitute.com). Respondents who would recommend Leiber say, "They are works of art," are "very unique and collectible," and "can be passed down through the years." Hermes and Tod's tied for second, Jimmy Choo was rated third.

"As high net-worth consumers become more discerning about their investments in luxury goods, the coveted luxury handbag category players are raising the bar in uniqueness, exclusivity and artistic value to satisfy consumer demand for true luxury," said Milton Pedraza, CEO of the Luxury Institute.

"The Judith Leiber brand is rated as much for being a work of art as it is rated a luxury by the only pundits who count -- wealthy consumers who can buy the brands. Our impartial surveys are based on the principle that highly educated, discerning luxury consumers have the ultimate expertise and trustworthiness in luxury consumption. The Luxury Institute conducts its research with independent panels, and uses third party analytical firms to tabulate the results so that the true voice of luxury consumers is amplified for the benefit of their peers and industry executives alike."

Following are the 30 luxury handbag brands rated by wealthy consumers (alphabetical order):

Bottega Veneta
Burberry
Celine
Chanel
Chloe
Christian Louboutin
Coach
Cole Haan
Dior
Dolce & Gabbana
Fendi
Ferragamo
Gucci
Hermes
Jimmy Choo
Kate Spade
Leiber
Longchamp
Louis Vuitton
Lulu Guinness
Marc Jacobs
Michael Kors
Miu Miu
Mulberry
Prada
Ralph Lauren
Stella McCartney
Tod's
Valentino
Yves Saint Laurent

The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 1,883 wealthy American consumers was surveyed online. Of these interviews, 1,048 surveys were completed with women. Only females responded to this handbag survey. The average income was $348K and the average net-worth was $3.5 million. The LBSI asks respondents to rate the brands along four main "pillars" of brand stature:

--  Consistently superior quality
--  Unique and exclusive
--  Social status as a product consumed by people who are admired and
    respected
--  Self-enhancement, in that the brand makes the consumer "feel special"
    across all aspects of the customer experience
    

In addition, the survey also measures three key "outcome" metrics, which are compared to the category LBSI:

--  Worthiness of a significant price premium
--  Willingness to recommend the brands to people they care about and why,
    or why not
--  Brand preference as the brand most likely to be considered the next
    time a purchase is made
    

A new feature of the survey is the question: 'What is the one thing you would change about each brand, besides price, if you could?'

Survey results are weighted to match demographic and net-worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.

About the Luxury Institute

The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.LuxuryBoard.com), the world's first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.LuxuryInstitute.com.